At Expand North Star’s Blockchain Stage, thought leaders gathered to explore “The UAE’s Role in the Tokenized Asset Race.” Moderated by Walid Abdou Zaki, co-founder and CEO of Unlock Blockchain, the session featured Kevin Lee (Chief Business Officer, Gate), Robert Farquhar (Chief Compliance Officer, CTRL ALT), and Mehtap Önder (Managing Director, Fasset).
Regulatory sandboxes: Opportunity and oversight
The panel opened with a look at regulatory sandboxes — a proving ground for blockchain innovation.
Robert described them as “spaces for opportunity and benefits,” while noting that they also come with risks of misuse if not properly supervised. His company, he added, focuses on securing investors’ ownership rights so that “if you go to court, they will say you own that asset.”
Bridging traditional finance and innovation
Mehtap shifted the discussion beyond technology, arguing that tokenization’s real power lies in accessibility.
“It’s less about tech,” she said, “and more about allowing access — giving traditional finance a bridge into innovation.” Through tokenization, legacy investors can safely participate in new markets, driving practical use cases rather than speculation.
Hype vs. genuine innovation
When the moderator asked how to distinguish between hype and substance, Kevin made a key distinction: “Tokenization is only a vehicle. Hype won’t create demand — demand and interest will.”
Robert added that the focus should be on enabling new financial instruments for a broader base of investors, not just the top of the market.
Infrastructure and liquidity: The missing links
Turning to regulation and infrastructure, Tim noted that while VARA and other authorities have laid strong foundations, adoption remains slow. “The tracks are built,” he said, “but no one wants to get on the train.”
Robert emphasized that for tokenization to thrive, liquidity and secondary markets are crucial: “You must be able to bring your assets back and liquidate them — that’s where real value lies.”
Closing the session, Kevin highlighted that the UAE’s approach isn’t about racing other nations but working alongside them. “It’s not a competition but a collaboration.”
