Dubai, UAE – 25 June 2026 – Al Tamimi & Company has advised Binance on a groundbreaking digital assets transaction involving the offering of tokenized securities in the Abu Dhabi Global Market (ADGM) through a Binance group affiliate.
The transaction marks a significant milestone in the evolution of digital capital markets in the region, representing the offering of tokenized securities under a prospectus approved by the Financial Services Regulatory Authority (FSRA) in ADGM.
The tokenized securities, known as “bStocks” and structured as Certificates, were issued by a Binance group affiliate, BTECH Holdings Limited, and made available through Binance’s crypto exchange in ADGM. The Certificates represent beneficial interests in underlying equity securities in SpaceX, providing investors with blockchain-enabled exposure to one of the world’s most prominent technology companies through a blockchain-enabled structure.
This landmark offering was closely linked to the successful IPO of SpaceX, the largest IPO in history, which closed on 11 June 2026. The offering officially launched on 12 June 2026.
The Certificates are classified as Securities by the FSRA and are issued as Ledger-Based Securities on the BNB Chain blockchain. Each Certificate is fully asset-backed, with every issued token supported on a 1:1 basis by corresponding SpaceX shares held in BTECH’s segregated custody account, providing transparency and investor protection within a regulated framework.
Al Tamimi & Company advised on the preparation of the prospectus for FSRA approval and assisted with the application for admission of the Certificates to the Official List of the FSRA, as well as admission to trading on both the Recognised Investment Exchange and the Multilateral Trading Facility operated by Nest Exchange Limited within ADGM.
“This transaction represents a major step forward in the convergence of traditional capital markets and digital asset infrastructure,” said Andrew Tarbuck, Partner – Head of Corporate at Al Tamimi & Company “The successful structuring and regulatory approval of these tokenized securities demonstrates how innovative financial products can be brought to market within a robust and trusted regulatory framework.”
The Al Tamimi & Company team advising on the transaction was led by Andrew Tarbuck, Partner and Head of Corporate and Divya Gambhir, Partner and assisted by Ashish Banga, Senior Consultant.
About Al Tamimi and Company
Al Tamimi and Company is the leading full-service law firm in the UAE and MENA region, with 17 offices across 10 countries. Since 1989, the firm has delivered innovative, cost-effective legal solutions to address complex business challenges.
Our team of 580+ legal professionals combine deep expertise with practical insights, offering commercially focused advice that drives client success. With a commitment to diversity and inclusion, we foster a dynamic environment that attracts top talent and empowers us to deliver outstanding results across industries.