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Alpha Ladder Group and Abu Dhabi-based Maqam International Holding said on April 2 that they had established a joint venture to develop real world asset tokenization and digital payments infrastructure across the Middle East and North Africa. The vehicle will be domiciled in Abu Dhabi Global Market, according to the companies' announcement. The platform will combine Maqam's regional asset and institutional relationships with Alpha Ladder's tokenization and compliance infrastructure. Real estate and infrastructure are among the target asset classes.
Payments stack: MetaComp
The payments side runs through MetaComp, which will provide settlement and compliance through its StableX Network, StableX Engine, and VisionX Engine. MetaComp is listed by the Monetary Authority of Singapore as a Major Payment Institution authorized for cross-border money transfer and digital payment token services. Alpha Ladder Finance is separately listed by MAS as a capital markets services licensee and recognized market operator.
Regulatory path in ADGM
The JV intends to apply for a licence from ADGM's Financial Services Regulatory Authority, which oversees financial services within the centre. FSRA guidance treats tokenized securities as "Digital Securities" under ADGM's framework, and they can be offered, listed, and traded in the jurisdiction subject to the applicable requirements. ADGM also updated its digital asset rules in June 2025, including changes to accepted virtual assets and restrictions on privacy tokens and algorithmic stablecoins. None of this is new regulation created by the JV announcement. The companies are working within what already exists.
What has actually happened so far
There is no live regulated market or approved tokenized real estate issuance in ADGM as a result of this announcement. What exists today is a corporate formation and a stated intent to apply for a licence. Any market access, investor eligibility, or specific asset issuance terms will depend on subsequent filings, approvals, and offering documents.
The deal is relevant to issuers looking at tokenized property or infrastructure offerings in the region, to payments providers linking fiat and on-chain settlement across the Singapore-UAE corridor, and to regulators watching how existing securities and digital asset rules apply to cross-border RWA structures. But for now, it is a plan, not a product.
