MultiBank, Khabib Nurmagomedov launch tokenized sports venture: Global derivatives broker MultiBank Group and former UFC champion Khabib Nurmagomedov launched a multi-bn-USD joint venture to build a regulated tokenized sports ecosystem in Dubai, according to a statement. The new entity, MultiBank Khabib, will develop digital assets linked to sports-related ventures, including some 30 Khabib-branded gyms set to be rolled out.

The ecosystem will use MultiBank’s USDMBG token to support the trading and investment of tokenized sports assets.

The rationale: The venture looks to link regulated finance with the sports industry by issuing tradable digital assets backed by real-world sports ventures, MultiBank said. The model targets institutional and retail investors seeking exposure to alternative assets through UAE-built blockchain infrastructure.

REMEMBER- Multibank opened an Abu Dhabi office in August to serve regional clients following the launch of CFDs on ADX- and DFM-listed shares via its app.

More tokenization on the way: In May, MultiBank signed a USD 3 bn real estate tokenization agreement with Dubai-based developer MAG and blockchain firm Mavryk, and later led a USD 10 mn funding round for Mavryk to develop blockchain infrastructure for real-world asset tokenization worth up to USD 10 bn.

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