PANews reported on March 19 that according to Cryptoslate, the Dubai Financial Services Authority (DFSA) announced that it is inviting companies to apply to join its tokenized regulatory sandbox, with the application deadline being April 24, 2025. The DFSA is an independent agency responsible for regulating the Dubai International Financial Center (DIFC). In an announcement on March 17, the DFSA stated that the sandbox program aims to attract companies that want to provide tokenized investment products and services. The sandbox provides a controlled environment for companies to test tokenized financial solutions under the supervision of regulators.

The DFSA has clarified that eligible services include tokenized stocks, bonds, Islamic bonds, and collective investment fund units. Both existing companies that have been authorized by the DFSA and want to expand their tokenization business, as well as eligible new applicants, can submit applications. After submitting the application, the company will enter the evaluation process. Successfully selected companies will have structured testing opportunities within the sandbox and receive tailored regulatory guidance. The DFSA emphasizes that only companies with strong business models and solid compliance capabilities will be selected. The sandbox program is part of the DFSA's broader innovative testing license project, which aims to help companies improve their financial products and prepare for full authorization.