- Atlas AI Labs Obtains Approval in Principle from VARA to operate, the first approval ever to launch an asset-backed token issued and traded in a fully permissionless environment.
- Atlas’ USAF+ token creates a new category of asset-backed tokens: real assets, open architecture, 24/7 access
- Supported by the Atlas America Fund ETF (NASDAQ: USAF), whose investment committee is chaired by Mr. Nouriel Roubini
/PRNewswire/ –Atlas AI Labs FZE (Atlas), the Dubai-incorporated subsidiary of Atlas Capital Team Inc, a US-based financial technology company, is set to issue the first referenced virtual asset available in a completely permissionless environment, marking a watershed moment for traditional and digital finance. This follows approval in principle from the Dubai Virtual Assets Regulatory Authority (BE) to operate token issuance services as part of its regulation on referenced virtual assets (GUESS).
The token, which will be issued under the name USAF+, is a fully collateralized digital expression of the Atlas America Fund (NASDAQ: USAF), an SEC-registered ETF whose assets are held by the Bank of New York. The token’s net asset value (NAV) is referenced directly to the underlying NAV of the USAF ETF. USAF+ transparency and reserve reporting follows the same timeline and information format as the traditional ETF, and will be attested by a third-party verifier. The portfolio includes short-duration U.S. Treasuries, TIPS and municipal bonds, gold, climate-resilient real estate and real estate investment trusts (REITs), defense and cybersecurity stocks, and agricultural and energy commodities.
Asset allocation is actively managed within a regime-sensitive framework, which dynamically adapts in real time to changes in the market environment. This is possible through the continued research and execution support of Atlas AI Labs and under the supervision of the Atlas Capital Team Inc. Investment Committee. This architecture is designed to provide institutional-grade stability, verifiability, and liquidity across all macroeconomic regimes.
USAF+ stands out for its open architecture. As a token backed by real assets and designed to be issued in a permissionless environment, it will be accessible, tradable and adjustable 24/7, without requiring gatekeepers. This approach democratizes access to tokenized real assets for a global audience, while preserving the regulatory oversight that institutional markets require. USAF+ will be the first digital asset simultaneously collateralized by an ETF registered with the SEC, listed on NASDAQ and approved by VARA for unauthorized issuance.
Reza Bundy, CEO et président d’Atlas Capital Team Inc, déclare : “This step marks a structural break for digital finance. For the first time, anyone, anywhere will be able to hold and trade a regulated token, backed by a real asset, in a permissionless environment. The architecture exists because Dubai has the necessary regulatory framework in place. VARA’s ARVA Regulations are the first regime to allow the unauthorized issuance of referenced virtual assets, and the UAE has combined this regulatory clarity with operational openness that no other financial center can match.”
A VARA spokesperson adds: “This approval signals VARA’s commitment to enabling a new class of regulated, asset-backed digital finance and cements the UAE’s position as a global hub for innovation in regulated digital assets. This commitment represents a significant step forward for both the capital markets and the virtual asset ecosystem.”
Nouriel Roubini, former senior advisor to the US Treasury and senior White House economist, is making his first foray into the field of digital assets. USAF+ is underwritten by the Atlas America Fund ETF, whose investment committee Roubini chairs, bringing the credibility of a world-class macroeconomist to the tokenized asset space.
Nouriel Roubini, chief economist and co-founder of Atlas Capital Team Inc, comments : “The intersection of macroeconomic rigor and digital innovation is where the next generation of financial infrastructure will be built, and Dubai has positioned itself as one of the few jurisdictions where this work can be done in production. The Atlas America Fund and its token system embody this thesis. In a context of high macroeconomic volatility, investors need collateral designed to retain their value regardless of regime, to generate yield from real assets and to move at the speed demanded by digital markets. Atlas aims to provide all three elements, within a regulatory framework that the UAE has developed specifically for this category.
Notes to editors
About Atlas AI Labs FZE
Atlas AI Labs FZE, incorporated in the Dubai World Trade Centre, is a wholly-owned subsidiary of Atlas Capital Team Inc, a US-based fintech co-founded by Messrs. Reza Bundy and Nouriel Roubini.
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