Atlas AI Labs to Launch First Ever Permissionless Asset-Backed Token from Dubai
- Atlas AI Labs secures In-Principle Approval to operate from VARA - the first ever approval to launch an asset-backed token issued and traded in a fully permissionless environment
- Atlas' USAF+ token establishes a new class of asset-backed token: real assets, open architecture, 24/7 access
- Backed by the Atlas America Fund ETF (NASDAQ: USAF), whose Investment Committee is chaired by Dr. Nouriel Roubini
DUBAI, UAE, May 12, 2026 /PRNewswire/ -- Atlas AI Labs FZE (Atlas), the Dubai-incorporated subsidiary of Atlas Capital Team Inc., a U.S.-based financial technology business, is set to issue the first asset-referenced virtual asset available in a fully permissionless environment, marking a landmark moment for both traditional and digital finance. This follows In-Principle Approval (IPA) from Dubai's Virtual Assets Regulatory Authority (VARA) to operate token issuance services under its Asset-Referenced Virtual Asset (ARVA) Rulebook.
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 with assets custodied by Bank of New York. The net asset value (NAV) of the token is referenced directly to the underlying NAV of the USAF ETF. Transparency and reporting of USAF+ reserve backing follow the same disclosure schedule and format as the traditional ETF, and will be attested by a third-party verifier. The portfolio holds short-duration U.S. Treasuries, TIPS and municipal bonds, gold, climate-resilient real estate and real estate investment trusts (REITs), defense and cybersecurity equities, and agricultural and energy commodities.
Asset allocation is actively managed under a regime-aware framework, which dynamically adjusts in real time to changing market environments. This is enabled through continuous research and execution support from Atlas AI Labs and under oversight from the Atlas Capital Team Inc. Investment Committee. This architecture is designed to deliver institutional-grade stability, verifiability, and liquidity across macroeconomic regimes.
What sets USAF+ apart is its open architecture. As a token backed by real assets and built to be issued in a permissionless environment, it will be accessible, tradeable, and settleable 24/7 without gatekeepers. This democratizes access to tokenized real-world assets for a global audience, whilst preserving the regulatory oversight institutional markets require. USAF+ will be the first digital asset simultaneously collateralized by an SEC-registered, NASDAQ-listed ETF and VARA-approved for permissionless issuance.
Reza Bundy, CEO and Chairman of Atlas Capital Team Inc., said: "This milestone marks a structural breakthrough for digital finance. For the first time, anyone, anywhere, will be able to hold and trade a regulated, real-asset-backed token in a permissionless environment. The architecture exists because Dubai built the regulatory framework for it. VARA's ARVA Rulebook is the first regime anywhere to authorize asset-referenced virtual assets for permissionless issuance, and the UAE has paired that regulatory clarity with operational openness no other financial center matches."
A Spokesperson for VARA, adds: "This approval signals VARA's commitment to enabling a new class of regulated, asset-backed digital finance and further cements the UAE's position as a global hub for regulated digital asset innovation. Such commitment represents a significant step forward for both capital markets and the virtual asset ecosystem."
The news also represents the first foray into digital assets for Dr. Nouriel Roubini, the former U.S. Treasury Senior Advisor and White House Senior Economist. USAF+ is collateralized by the Atlas America Fund ETF, where Dr. Roubini chairs the Investment Committee, bringing the credibility of a world-class macroeconomist to the tokenized asset space.
Dr. 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 that work can run in production. The Atlas America Fund and its tokenization embody this thesis. At a time of elevated macro volatility, investors need collateral that is designed to hold its value across regimes, generate yield from real assets, and move with the speed digital markets demand. Atlas seeks to deliver all three, under a regulatory framework which the UAE has built 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 U.S.-based financial technology business co-founded by Mr. Reza Bundy and Dr. Nouriel Roubini.
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SOURCE Atlas Capital Team Inc.
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