The Dubai International Financial Centre (DIFC) Courts have unveiled an innovative suite of digital public services featuring the Digital Assets Will. At GITEX Global 2024, live demonstrations highlighted new service platforms, enhanced accessibility, robust functionality, and advanced security features.
UAE, through DIFC, continues to build a global crypto hub
According to the official announcement, the Digital Assets Will allows individuals to distribute their digital assets using a non-custodial DIFC Courts wallet. This wallet gives individuals complete control over their assets over their lifetime and allows them to transfer assets to recipients as ‘specific gifts.’
His Excellency Justice Omar Al Mheiri, Director of DIFC Courts, said, “The strong growth momentum arising from the implementation of the Dubai Economic Agenda D33 and the Dubai Digital Strategy has touched a diverse range of sectors, including government legal services. Our obligation is to deploy the latest emerging technologies to facilitate this growth and demand.”
The wallet supports digital assets such as ETH, BTC, MATIC, USDC, USDT, and HBAR. Future updates will include support NFT standards ERC 721, ERC 115, Ordinals, and Hedera Token Service (HTS).
This new Will template joins the existing DIFC Courts Will types, which include Full Will, Property Will, Financial Assets Will, Business Owners Will, and Guardianship Will.
The DIFC Courts also provide an online automated Will drafting service and a Virtual Registry, allowing persons globally to design and register a DIFC Court’s Will. Investors and residents can use it through a video link to a compliance officer in Dubai.
Wills can also be saved in the global digital vault, Tejouri. Tejouri, which was launched in 2022, serves as a cloud vault and online data secure, with backing from DIFC’s data centers.
