Tarmiiz in collaboration with GRANITE Financial Holding, has received initial approval from the Financial Regulatory Authority FRA to join the FRA Sandbox with its fund platform for money market services.

The project introduces a digital platform for the tokenization of a regulated money market fund, leveraging blockchain technology to transform the management of digital asset ownership. The platform provides trusted infrastructure for the tokenization of regulated financial assets (money market, real estate, precious metals and many more) and serves as the technology layer on which the tokenized fund model will be built and tested within the FRA Sandbox. The platform enhances transparency, operational efficiency, and governance while improving the lifecycle management of regulated financial assets.
Highlighting the significance of the project, H.E. Dr. Islam Abdel Azim Azzam, Chairman of the FRA said, “The initial approval reflects the FRA’s continued support for innovative technologies, including asset tokenization, while ensuring a secure regulatory environment that safeguards market stability and the rights of market participants.”
Eng. Ahmed Khalifa— Executive Director of the FRA Sandbox & Chief Data Officer said, " The project marks an important step in exploring the practical applications of asset tokenization and its potential to enhance efficiency, transparency, and innovation across Egypt’s non-bank financial sector.”
Commenting on the initial approval, Eng. Amr Soliman, Chairman of Tarmiiz, said: "This project marks an important milestone for Tarmiiz and reflects our commitment to advancing asset tokenization in Egypt. We look forward to working with the FRA and Granite to demonstrate the commercial potential of blockchain-powered financial market infrastructure."
Mr. Hisham Akram, CEO of Granite, added: "This collaboration reflects our commitment to leveraging technology to modernize investment and asset management. We believe asset tokenization will play an important role in enhancing the efficiency and competitiveness of Egypt's capital markets."
The initial approval announcement was made in the presence of:
From the Financial Regulatory Authority (FRA):
H.E. Dr. Islam Abdel Azim Azzam — Chairman of the FRA
Eng. Ahmed Khalifa — Executive Director of the FRA Sandbox & Chief Data Officer
Mr. Hamdy Badawy — Assistant to the Chairman of the FRA
Eng. Ahmed Attia — Deputy Assistant to the Chairman at the FRA
Ms. Sally George — Chairman Associate & Head of Mutual Funds at the FRA
From Tarmiiz :
· Eng. Amr Soliman — (Chairman)
· Mr.Seif El Kilany — (CEO)
· Mr. Adel Megahed — (CTO)
From Granite:
· Mr. Hisham Akram — (CEO)
· Mr. Hussein El-Sheikh — (COO)
· Mr. Yahya Ahmed — (Chief of Staff)

At the FRA Sandbox, we are proud to support tokenization-powered solutions advancing financial innovation, strengthening digital financial market infrastructure, and accelerating Egypt's digital transformation in the non-bank financial sector.

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