The DIFC Innovation Hub Hub, is teaming up with the global Swiss wealth management company Julius Baer and the Financial Market Infrastructure Euroclear. Together, they aim to address issues in the digital asset estate planning sector. In line with the UAE's vision to assist family businesses in maximizing their economic impact, this collaborative project, overseen by the DIFC Innovation Hub, will unite innovators, investors, and experts from the wealth management field. The focus is on exploring how technology can be leveraged by families to effectively manage growing portfolios of tokenized and digital assets.

DIFC’s Innovation Hub experts will collaborate with Julius Baer's global innovation team and Euroclear's innovation center for a three-month initiative. The outcome will be a white paper outlining a forward-thinking solution for succession planning, specifically applying tokenization to multi-generational inheritance. The insights derived from this analysis will serve as a guide for other regions facing similar challenges, offering a framework to turn these challenges into opportunities.

It is projected that assets worth AED 3.67 trillion (USD 1 trillion) will be transferred to the next generation in the Middle East in the next decade. However, only 24 percent of High-Net-Worth Individuals currently have a comprehensive estate plan. The swift adoption of various digital asset classes by individuals and businesses adds complexity to the seamless execution of existing estate plans. Through the collaboration of DIFC Innovation Hub, Julius Baer, and Euroclear, practical solutions will be developed to address this global challenge.