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DMCC Completes Land Sale Transaction in JLT with Reit Development to Build a Blockchain Enabled Precious Metals Refinery in Dubai


News
DMCC Completes Land Sale Transaction in JLT with Reit Development to Build a Blockchain Enabled Precious Metals Refinery in Dubai
The agreement brings the largest Blockchain-enabled precious metals refinery and storage facility in the GCC
By:
Diamond World News Service
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Reference:
25533  
DMCC – the world’s flagship Free Zone and Government of Dubai Authority on commodities trade and enterprise – announced the signing of a sale and purchase agreement (SPA) with 
REIT Development to establish the largest precious metals refinery and storage facility across the GCC and the first to be completely enabled by blockchain in the GCC.
As part of the agreement, REIT Development acquired industrial land strategically located in DMCC’s ....

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GCC's first blockchain-enabled precious metals refinery to open in Dubai in 2022 - News


GCC’s first blockchain-enabled precious metals refinery to open in Dubai in 2022
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Filed on April 21, 2021
The free zone said it has signed a sale and purchase agreement with Reit Development to establish the facility.
Supplied photo
The first-of-its-kind facility will refine and store gold, silver, platinum, palladium, rhodium; The innovative refinery to be completed in the last quarter of 2022
The largest precious metals refinery and storage facility in the GCC, which will be the first in the region totally enabled by blockchain, will open in Dubai by the last quarter of 2022.
The first-of-its-kind facility by Reit Development – a leading organisation specialised in precious metals and blockchain technologies – will refine and store precious metals including gold, silver, platinum, palladium and rhodium, which will be tokenised on goldexchange.com, DMCC, a leading global free zone for commodities trade ....

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