Keeta Network, a layer-1 blockchain backed by former Google CEO Eric Schmidt, has partnered with UAE-based ASK Group to build a platform for tokenizing Gulf commodities like oil, gold, and silver.
The project aims to bring tens of billions of dollars in real-world assets onto blockchain and improve cross-border payments in the Gulf and beyond. The partners hope to launch publicly by 2027, depending on regulatory approval and infrastructure progress.
The project would let physical commodities be represented as digital tokens on Keeta’s blockchain. In theory, investors could buy, sell, and hold tokenized assets like barrels of oil or ounces of gold at any time.
Keeta and ASK Group also plan to use the network to improve cross-border payments, especially on major routes like UAE to India.
While the opportunity is big, there are still major challenges. The project needs verified custody, independent reserve audits, and regulatory approval in several countries.
Industry watchers say that tokenizing real-world assets is now one of the fastest-growing parts of blockchain, drawing interest from both traditional financial firms and crypto companies.
For now, this project is still a long-term goal, not an active platform. Still, having a UAE investment group with strong local ties and a blockchain backed by well-known investors has attracted a lot of industry attention..
(1/9) Keeta and ASK Group @askgroupae, a UAE-based investment group led by His Highness Sheikh Ahmed bin Sultan bin Khalifa bin Zayed Al Nahyan @asknahyan, have created a joint venture aiming to tokenize tens of billions of dollars of commodities and modernize cross-border… pic.twitter.com/QtFd31uhZ0
— Keeta (@KeetaNetwork) June 9, 2026
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