#FRA
1 article tagged #FRA — curated RWA tokenization coverage.
GRANITE, Tarmiiz join FRA Sandbox to test money market fund tokenization
GRANITE Financial Holding and Tarmiiz Information Technology have been admitted to the Egyptian Financial Regulatory Authority (FRA) Regulatory Sandbox to pilot the tokenization of money market funds. This initiative marks a significant step for Egypt's non-banking financial sector as it explores blockchain for recording and managing asset ownership. By leveraging Tarmiiz’s blockchain infrastructure alongside GRANITE’s asset management expertise, the partners aim to identify the necessary regulatory and operational frameworks for future commercial viability. The project is one of nine initiatives granted preliminary approval within the Sandbox's first year, which saw over 50 total applications. This testing phase focuses on assessing how distributed ledger technology can improve liquidity management and transaction settlement efficiency. The collaboration underscores a growing institutional interest in modernizing capital market infrastructure through digital assets. Ultimately, the findings from this sandbox environment will inform the FRA’s approach to integrating tokenization into the broader Egyptian financial ecosystem.