MANTRA Finance Secures Dubai VASP License, Partners with DAMAC for $1B Asset Tokenization

February 19, 2025
MANTRA Finance Secures Dubai VASP License, Partners with DAMAC for $1B Asset Tokenization
  • Mullin emphasized that Dubai's regulatory clarity has fostered a thriving Web3 ecosystem in the UAE, driving institutional adoption of crypto assets.

  • In January 2025, MANTRA announced a partnership with Dubai's DAMAC Group to tokenize at least $1 billion of the company's assets on the blockchain.

  • Plans for the future include focusing on the tokenization of real-world assets, with these tokenized assets expected to be available on the MANTRA chain by early 2025.

  • In 2024, MANTRA partnered with Google to serve as a primary validator and infrastructure provider for its blockchain, also collaborating on an accelerator program for real-world assets.

  • The OM token has seen a remarkable surge, increasing by 102% over the past month and 3078.5% over the past year, attracting significant investor interest.

  • Following the announcement of the VASP license, the price of MANTRA's OM token rose by 3%, reaching an intraday high of $7.70.

  • MANTRA aims to provide users in the UAE with a blend of decentralized finance and traditional finance protections, including transparency and rapid trade settlement.

  • John Patrick Mullin, CEO of MANTRA, described the VARA license as a critical milestone for the company, essential for building user trust through regulatory compliance.

  • Overall, MANTRA Finance is positioned to bridge decentralized and traditional finance, enhancing its operational capabilities in a major financial hub.

  • MANTRA Finance has successfully obtained a Virtual Asset Service Provider (VASP) license from Dubai regulators, enabling it to operate as a trading platform in the UAE.

  • This license is a crucial step in MANTRA's global expansion strategy, allowing the company to deliver decentralized finance products that integrate traditional finance with DeFi.

  • With the VASP license, MANTRA aims to enhance its operations in the Middle East, particularly focusing on the tokenization of real-world assets.

Summary based on 4 sources


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