Asset-Referenced Virtual Asset. Dedicated VARA category for tokens representing ownership in real-world assets.
ARVA (Asset-Referenced Virtual Asset) is the category introduced by VARA Rulebook 2.0 (19 May 2025, mandatory from 19 June 2025) for any virtual asset that represents, directly or indirectly, present or future ownership of a real-world asset. The definition covers financial instruments, physical assets, and intangibles (real estate, commodities, fund units, private credit, receivables, collectibles). Issuers need a Category 1 VA Issuance licence, with reserve custody, monthly public disclosure, and six-month independent audit obligations.
Dubai's Virtual Assets Regulatory Authority, the world's first dedicated regulator for virtual asset service providers.
Dubai International Financial Centre, an independent common-law financial free zone with its own regulator (DFSA).
Crypto-asset designed to maintain a stable value by referencing a fiat currency, asset, or basket of assets.
Real-World Asset. Any off-chain asset (real estate, funds, commodities, credit) represented on-chain via tokenization.