Saudi Arabia“One of the pioneering firms in web3 solutions, digital assets and tokenization, recognized for its innovation and solid reputation across Spain and Latin America.”
Jorge CorredorLawyer, Rincón Cuéllar & Asociados
Asset tokenization in Saudi Arabia
We build the platform to tokenize sukuk, shares and fund units in Saudi Arabia when the issuance holds a CMA experimental permit: investor onboarding, ERC-3643 tokens and the limits of the test, coordinated with the law firm that prepares the application.
Tokenize your asset
They trust Metlabs to tokenize their assets
Why Saudi Arabia
Why tokenize assets in Saudi Arabia?
Saudi Arabia has no general regime for tokenized securities and no crypto-asset licenses. Since 2022 the CMA has accepted security token models in its FinTech Lab, under an experimental permit and with an entity incorporated in the country, and sukuk offerings through platforms already run under an ordinary license. That permit has to be secured before the issuance is designed.
SAR 3.4B
in sukuk issued in 2024 through the FinTech Lab's debt platforms, before the activity moved to an ordinary license
CMA · Sep 2025What gets tokenized
Debt, equity and revenue: what gets tokenized in Saudi Arabia
Almost every tokenized issuance represents one of these three rights against the issuer. In Saudi Arabia, the CMA test only accepts securities with the features of traditional ones, so the right first determines whether it fits the permit, and then the vehicle and the applicable law.
| Right | Debt | Equity | Revenue |
|---|---|---|---|
| What is issued | Sukuk and debt instruments | Shares | Fund units |
| The investor receives | The investor funds the issuer and receives a periodic profit or coupon payment and, at maturity, the principal. | The investor joins the share capital: dividends, voting rights and a share of any sale or liquidation. | The investor buys units in a fund, for example a real estate fund, and receives its share of the income the fund distributes. |
| The token enforces |
|
|
|
| Issuer | Joint stock company or LLC | Joint stock company (JSC) | Investment fund |
| Register | Custody under a CMA permit | Custody under a CMA permit | Custody under a CMA permit |
| Law | Capital Market Law | Capital Market Law | Capital Market Law |
| How it is issued | The 2022 Companies Law allows joint stock companies and LLCs to issue negotiable sukuk and debt instruments under the Capital Market Law. On DLT, they can only be issued inside the FinTech Lab, under a permit to arrange the offering and provide custody. | Equity stakes in an LLC are indivisible and non-negotiable, and assigning one to a third party triggers a 30-day purchase right for the other partners. The CMA lists transferable shares among the securities its security token test accepts. | A direct revenue right has no established route of its own. The CMA test is limited to securities with traditional features, including investment fund units, so an asset's income is channeled through a fund. |
Regulation
Regulation guide for Saudi ArabiaWhich regulation applies to tokenization in Saudi Arabia?
It depends on whether the token is a security. If it is, it follows the Capital Market Law and the CMA supervises it, testing the issuance and offering of DLT securities only inside its FinTech Lab, under an experimental permit. The central bank, SAMA, runs its own sandbox, and neither route amounts to a general crypto-asset license.
The security token test is limited to securities with the features of the traditional ones listed in the Capital Market Law, such as transferable shares or fund units, and requires the entity to be incorporated in the country before operating. The CMA permit list read on October 12, 2026 shows no active permit for arranging offerings and custody on DLT.
Outside the lab, since 2025 entities licensed for arranging can offer sukuk and debt instruments on crowdfunding platforms as an exempt offering. Where real estate is involved, title stays in the register of the Real Estate General Authority (REGA). We coordinate the structure with specialist law firms, and authorized entities provide the regulated services.
Saudi Arabia
- Authorities
- Saudi Central Bank (SAMA); Capital Market Authority (CMA); REGA for property rights
- Latest regulatory change
- Sep 2021
Key authorisations
- CMA experimental permission according to model and conditions
- Temporary SAMA permission for admitted tests
- Activity-specific permissions; general VASP licence not established
Our legal partners
Methodology
How we tokenize an asset in Saudi Arabia, step by step
The four phases of our methodology, with the parties involved in Saudi Arabia. The law firm and our engineering team work in parallel from the asset review to investor acquisition.
We review the asset's title, encumbrances and cash flows, and decide with the issuer whether the token will be a sukuk, a share or a fund unit. That sets the vehicle (a joint stock company, an LLC for debt, or a fund) and the rules of the issuance.
The law firm classifies the token as a security under the Capital Market Law and prepares the application for the CMA experimental permit, which must explain what will be tested, with which investors and how the test will close. The offering follows the securities offering rules.
We configure the white label platform with your brand: investor onboarding with KYC, signature, payment and ERC-3643 tokens that enforce the permit's limits on investors, amounts and transfers. Custody and payment schedules are adapted to the conditions the CMA sets.
With the issuer and the authorized entity placing the issuance, we prepare the offer page within the limits of the test and measure the journey to a paid subscription. After the issuance, the platform handles distributions, permitted transfers and reporting.
Reviews in Saudi Arabia
What do our clients think of Metlabs?
“We structured the tokenization of real estate projects with them, and I value the team's ability to understand our corporate needs and genuinely solve them.”
Joan MejíaManager, GLOBYNE
“They advised us on the feasibility of tokenizing real estate assets in Uruguay with direct, cordial treatment. A professional team, responsive and always available.”
Álvaro Silva SantamaríaCEO, Sp Inmuebles
“Great professionals at structuring tokenized projects, with technical command and attention to detail that inspire full confidence at every stage of the work.”
Francisco BetancourtVerified Google review
“As a blockchain lawyer, I value their experience and professionalism in consulting and executing tokenization projects. Technology partners you can fully trust.”
Vanessa RivasBlockchain lawyer, El Salvador
“Great professionals, very attentive to their clients and always mindful of every detail. Working with their team has been a genuine pleasure from start to finish.”
CriptorentVerified Google review
“A very professional yet approachable company that empathizes with your doubts and needs. Highly recommended for entrepreneurs with a tokenization project.”
Javier EspasaTokenization entrepreneur
“Exceptional in every sense. From legal support I value their rigor and transparency: working with Metlabs means professionalism, innovation and security.”
Pedro A. Agúndez MéndezGoogle Local Guide
“Excellent service across blockchain development, asset tokenization and consulting. A very professional team that I recommend wholeheartedly, without reservation.”
José Luis DíazVerified Google review
“I have worked with them on several projects and they are very professional. A guarantee that everything turns out perfectly. Without a doubt, 100% recommended.”
Ignacio Fernández JiménezVerified Google review
“One of the pioneering firms in web3 solutions, digital assets and tokenization, recognized for its innovation and solid reputation across Spain and Latin America.”
Jorge CorredorLawyer, Rincón Cuéllar & Asociados
“Great professionals at structuring tokenized projects, with technical command and attention to detail that inspire full confidence at every stage of the work.”
Francisco BetancourtVerified Google review
“A very professional yet approachable company that empathizes with your doubts and needs. Highly recommended for entrepreneurs with a tokenization project.”
Javier EspasaTokenization entrepreneur
“I have worked with them on several projects and they are very professional. A guarantee that everything turns out perfectly. Without a doubt, 100% recommended.”
Ignacio Fernández JiménezVerified Google review
“We structured the tokenization of real estate projects with them, and I value the team's ability to understand our corporate needs and genuinely solve them.”
Joan MejíaManager, GLOBYNE
“As a blockchain lawyer, I value their experience and professionalism in consulting and executing tokenization projects. Technology partners you can fully trust.”
Vanessa RivasBlockchain lawyer, El Salvador
“Exceptional in every sense. From legal support I value their rigor and transparency: working with Metlabs means professionalism, innovation and security.”
Pedro A. Agúndez MéndezGoogle Local Guide
“They advised us on the feasibility of tokenizing real estate assets in Uruguay with direct, cordial treatment. A professional team, responsive and always available.”
Álvaro Silva SantamaríaCEO, Sp Inmuebles
“Great professionals, very attentive to their clients and always mindful of every detail. Working with their team has been a genuine pleasure from start to finish.”
CriptorentVerified Google review
“Excellent service across blockchain development, asset tokenization and consulting. A very professional team that I recommend wholeheartedly, without reservation.”
José Luis DíazVerified Google review
Platform
What does our white label tokenization platform include in Saudi Arabia?
The investor portal, ERC-3643 tokens and issuer console, under your brand. Out of the box it handles onboarding, signing, payment and distributions; anything else your issuance needs, such as a local payment method or a connection to your bank or custodian, we build on the same platform.
Request a demo
- Your brand and domainYour visual identity and legal notices across the investor portal.
- Investor onboardingSign-up, KYC with national ID or Iqama, KYB, AML/CTF and a custodial wallet.
- End-to-end investmentElectronic signature and payment in Saudi riyals by bank transfer.
- ERC-3643 tokensEvery subscription is issued under the CMA private placement rules.
- Issuer consoleProjects, investors, riyal reconciliation, distributions and reporting.
- Compliance and audit trailKYC file, sanctions screening and AML/CTF per investor, and an exportable audit log.
Institutional custody, integrated
We integrate custody and key management providers through their APIs, including Fireblocks, BitGo, Coinbase Prime, Anchorage Digital, Copper and Ledger Enterprise. Depending on the provider and model, keys are managed with MPC or multisig so that none depends on a single device. If the token is a security, custody on behalf of clients is provided by an authorized entity.
FAQ
Frequently asked questions about tokenization in Saudi Arabia
What we are asked before a project starts.
Talk to our teamIs asset tokenization legal in Saudi Arabia?
Only through a narrow route. The CMA accepts the issuance and offering of security tokens inside its FinTech Lab, under an experimental permit and with an entity incorporated in the country; there is no general crypto-asset license. Outside that test, a security follows the Capital Market Law and its offering rules.
Can a Saudi LLC issue tokens?
It can issue negotiable sukuk and debt instruments under the Capital Market Law, with the partners' approval required to amend its articles. Its equity stakes, however, are indivisible and non-negotiable, so they cannot be the token: tokenizing equity requires a joint stock company.
Can a foreign company apply for the CMA experimental permit?
Yes. The CMA's FAQ accepts applications from foreign companies, but to start operating after the permit is granted, the entity must be incorporated in the country. The permit covers the model assessed: changing the instrument, the custody or the type of investor requires checking it again with the CMA.
Does the token give ownership of the property?
No. Title to a property is recorded in the REGA register, and the token represents a security against the issuer: a debt instrument, a share in the owning company or a fund unit. A tokenization announcement does not, by itself, evidence any change in the real estate register.
Asset tokenization
Assets we tokenize in Saudi Arabia.
Asset tokenization
Articles on tokenization
Real Asset Tokenization: How RWA Tokenization Works
How to structure an RWA project: holder rights, issuance, recordkeeping, payments and recovery. What blockchain adds and what depends on the legal arrangement.
What are the differences between security tokens and utility tokens?
How to distinguish financial rights from service access, what legal classification examines and why a token’s name does not determine its regulation.
OpenZeppelin and ERC-3643: how a security token is built
What OpenZeppelin libraries and ERC-3643 controls provide, and what a securities issuance also requires: rights, permissions, operations and review.
Tokenize your asset in Saudi Arabia
Tell us which right you want to issue and we will propose the technical structure, timeline and phased budget.
Where we are
We're your tokenization company in:
Metlabs Offices
Av. García Sabell, 1, Edificio Proa 15009 A Coruña, Spain
We tokenize assets in
SpainUnited StatesUAEUnited KingdomMexicoSingaporeAustraliaSwitzerlandColombiaArgentinaChilePeruPortugalGermanyHong KongBrazilEcuadorFranceIndiaPanamaAndorraAustriaBahrainBelgiumBoliviaCanadaCosta RicaCubaCyprusCzechiaDenmarkDominican RepublicEl SalvadorEstoniaFinlandGreeceGuatemalaHondurasHungaryIrelandIsraelItalyJapanKuwaitLiechtensteinLithuaniaLuxembourgMaltaMonacoMoroccoNetherlandsNew ZealandNicaraguaNigeriaNorwayOmanParaguayPolandPuerto RicoQatarRomaniaSan MarinoSeychellesSouth AfricaSouth KoreaSwedenTurkeyUruguayVenezuela
