mb.io, the crypto arm of MultiBank Group, has launched an institutional gold tokenization program with Kings Orbis, EON3 Group Ghana Ltd, and Mavryk. The announcement, distributed via Chainwire on May 11, 2026, formalizes a partnership that puts West African physical gold on-chain through a single regulated stack. Each token represents direct institutional ownership of bullion vaulted in Dubai under LBMA-approved custody.
The disclosure follows a multilateral meeting at the World Peace Summit in Kumasi, Ghana on April 24, 2026, where senior representatives of all four partners signed off on the structure.
A four-party stack with one product
The architecture splits responsibilities across four institutional roles. mb.io RWA is the regulated tokenization marketplace. Kings Orbis is the program coordinator across the partner network. EON3 Group is the dedicated institutional supply partner, sourcing gold from West Africa through licensed refining channels. Mavryk provides the Layer 1 blockchain and the RWA-specific tech infrastructure.
The structure mirrors how institutional tokenization deals have started to look in 2026: separate issuer, custodian, supplier, and chain, each operating under its own license and jurisdiction. That separation matters for compliance. Regulators in different markets can review each leg independently rather than as a single bundled fund.
Dubai custody and VARA oversight
mb.io is operated by MEX Digital FZE and licensed by Dubai's Virtual Assets Regulatory Authority. The physical bullion sits in Dubai under LBMA-approved institutional custody, the same accreditation standard used by sovereign reserve managers and major bullion ETFs.
VARA has positioned itself as one of the most active crypto regulators for tokenization use cases. Recent licensing milestones in the emirate include Crypto.com securing the first VASP-issued Stored Value Facility license from the UAE Central Bank, which we covered earlier this month. The MultiBank deal extends that pattern from payments into commodities.
Mavryk as the issuance chain
Mavryk is the Layer 1 chosen to host the gold tokens. It bills itself as a next-generation chain purpose-built for real-world assets, with tokenization primitives, DeFi integrations, and institutional TradFi partnerships at the base layer rather than bolted on later.
For this program, that means the gold tokens can settle alongside other tokenized assets on the same network without bridging out to Ethereum or a general-purpose L1. Issuance, transfer, and compliance hooks all run natively. The broader category context is stronger than the headline suggests: tokenized gold spot volume in Q1 2026 already topped the entire 2025 figure, a point we mapped in our tokenized gold market update.
African supply meets institutional buyers
EON3 Group is headquartered in Accra and works across licensed African refining and supply networks to deliver investment-grade gold to international markets. Putting an African supplier directly inside an institutional tokenization stack is the part of the announcement that breaks new ground. Most existing tokenized gold products source from Swiss or London refiners, with the underlying supply chain abstracted away from the buyer.
The on-chain wrapper here keeps provenance attached to the token. A buyer holding mb.io's gold token can trace the bullion back through EON3's refining process to its West African origin. That provenance layer is the part regulators in both the EU and the Gulf have been pushing on, as the broader tokenized RWA market crossed $30 billion and grew tenfold in two years, per our coverage.
A regional read-through
For the UAE, the deal reinforces Dubai's role as the institutional custody hub for tokenized commodities. For Ghana, it positions a domestic refining business inside a regulated international product, with the local supply leg sitting upstream of a Dubai-licensed issuer. No issuance volume, hard cap, or first-mint date was disclosed in the announcement.
Overview
mb.io's gold tokenization program is a four-party institutional stack: MultiBank's regulated marketplace, Kings Orbis as coordinator, EON3 as the West African gold supplier, and Mavryk as the Layer 1 chain. Bullion is vaulted in Dubai under LBMA custody, with VARA as the lead regulator on the issuance side. No mint volume has been published yet. As of May 12, 2026, BTC trades at $81,203 with crypto market sentiment at a neutral 51 on the Fear & Greed index. A flat tape, against which institutional RWA pipelines keep expanding.
