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**7M Tokens Claimed in First MBG Pre-Sale as MultiBank Prepares for Final Phase**
MultiBank Group has made headlines by selling out its initial MBG token pre-sale, with a staggering 7 million tokens claimed within an hour. The unprecedented demand marks a significant milestone in the Web3 capital formation process.
The pre-sale, priced at $0.35 per token, raised approximately $2.45 million. This impressive turnout is all the more remarkable given MultiBank’s 20-year history as a global TradFi institution, regulated across five continents and handling a daily trading volume of $35 billion with over $29 billion in managed assets.
The MBG token is set to serve as a utility token within the company’s digital ecosystem. As such, it will offer various benefits, including trading discounts, staking rewards, access to loyalty programs, and early product features. Furthermore, it will provide access to MultiBank’s highly anticipated $3 billion tokenized real estate initiative in Dubai.
Naser Taher, Chairman of MultiBank Group, has hailed the sale as a testament to confidence in a token specifically designed for long-term users, rather than speculators.
The company is now gearing up for its next phase, which includes a second pre-sale round. This move comes ahead of the highly anticipated token generation event (TGE) on July 22nd. The TGE marks the full rollout of MBG’s utility framework, allowing early adopters to stake their tokens for yield, leverage loyalty features, and gain access to MultiBank’s forthcoming product suite.
Some observers have attributed the strong demand to a shift in sentiment towards RWA-backed tokens. These tokens are anchored to tangible assets like real estate or commodities, providing an element of stability often lacking in purely speculative launches.
In contrast, MBG stands out as a token tied to an operational platform and an established financial framework. This hybrid approach could position the company as a model for traditional institutions seeking to enter the Web3 space without sacrificing compliance or functionality.
As MultiBank prepares for its final phase, the industry is keenly watching developments surrounding MBG’s integration into the broader MultiBank Exchange (MEX) infrastructure. If successful, this integration could transform MBG into a default utility token across a full-service crypto-tradfi exchange.
The outcome of these events will undoubtedly be closely monitored by market participants and investors alike.
Source: blockonomi.com
