Dubai Pushes Region’s First Digital Security Capital Raise

Dubai Pushes Region’s First Digital Security Capital Raise

Dubai International Financial Centre (DIFC) has announced that investment banking and wealth management firm GRIP is undertaking a fully digital capital raise for Lead Real Estate, a Tokyo headquartered residential and commercial developer, this month.

DIFC’s regulations, laws and structures has enabled GRIP to establish, manage and distribute an international multi-million dollar capital raise using digital securities as a medium of issuance.

The strategic move could have been due to the fact that Lead Real Estate has some of their projects developed to leverage on the opportunities arising out of the 2021 Tokyo Olympics.

The issuance is the first major globally-compliant digital securities offering in MEASA, marking a key milestone for DIFC and Dubai. It involves a collaborative effort by reputed lawyers, service providers, technology providers and regulated firms from across the world, including UAE, the US, Japan, Hong Kong and the Cayman Islands.

Arif Amiri

Arif Amiri

Commenting on the announcement, Arif Amiri, Chief Executive Officer of DIFC Authority, said:

“Congratulations to GRIP for launching this innovative digital security capital raise. We are pleased that DIFC’s robust yet forward looking legal and regulatory framework is providing GRIP with a platform to deliver a first for the centre and MEASA region. Innovation like this will propel economic development in the region and illustrates how DIFC is driving the future of finance.”

“We are excited, and believe this will be the first of many issuances to come to market using this innovative technology”,

states Tony Pettipiece, Chairman of GRIP,

GRIP is also on course to establish a private securities marketplace within DIFC which claims to be a first for the region.

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