Outside Source
[PRESS RELEASE – Dubai, UAE, March 14th, 2024]
MANTRA has announced a major step towards mainstreaming Real World Asset (RWA) tokenization with its application for its first essential financial licenses. Its expected receipt of licensing in the UAE will allow MANTRA to target a global customer base, and empower businesses to capitalize on RWA asset tokenization.
MANTRA’s layer1 blockchain, known as MANTRA Chain, is designed to facilitate the issuance and trading of tokenized RWAs. In 2024, MANTRA is on a mission to onboard financial organizations and other commercial enterprises that seek to tap into the many benefits tokenized RWAs have to offer.
To support the establishment of fully compliant RWA infrastructure, MANTRA’s dedicated teams located in Hong Kong and UAE have developed deep understanding of the evolving regulatory frameworks in key regions. By obtaining its first financial licenses in the UAE, MANTRA aims to position itself at the forefront of the rapidly evolving RWA sector throughout the Middle East and Asia. MANTRA’s 2024 goal is to tokenize a diverse portfolio of assets including real estate, private market funds, private equity, art, and treasuries.
MANTRA CEO John Patrick Mullin said: “Our vision is to spearhead the tokenization of Real World Assets and set a global standard for security, compliance, and innovation. This will create a sustainable ecosystem for developers and institutions. By securing our foothold in strategic, crypto-friendly markets like Asia and the UAE, we’re not just navigating the future but actively building it. MANTRA will bridge the longstanding divide between traditional financial systems and the blockchain space, democratizing access to wealth and opportunity on a scale never seen before.”
Through establishing a solid legal foundation, MANTRA is primely positioned to help enterprises master the complexities of RWA tokenization. In the process, MANTRA aims to set new benchmarks for security and regulatory compliance. In particular, security is a fundamental component of MANTRA’s RWA tokenization strategy, where its comprehensive licensing framework and security-first layer1 blockchain will stand it in good stead. This ensures adherence to stringent security protocols, which are crucial for platform adoption and the safeguarding of tokenized assets.
In recent weeks, MANTRA has made headway in decentralizing its network, securing worldwide validator support. The imminent launch of the final MANTRA testnet, known as Hongbai, symbolizes a synergistic blend of Hong Kong and Dubai influences. Its deployment will be a pivotal step towards MANTRA Chain becoming the first RWA layer 1 on Cosmos.
####
About MANTRA
MANTRA aims to be the first RWA L1 blockchain capable of adherence and enforcement of real world regulatory requirements. By accelerating the adoption of tokenized RWAs, MANTRA has the potential to unlock the $16 trillion RWA economy with a regulatory-ready blockchain. Through MANTRA Chain’s compliant framework, TradFi companies can easily switch to and leverage asset tokenization and blockchain solutions, boosting global RWA growth.
MANTRA addresses key industry challenges, including liquidity fragmentation and cross-chain interoperability, setting the foundation for a secure, scalable infrastructure. MANTRA will also offer a DEX that provides users with a diversified product suite built around easy access to tokenized real world assets.
Website | X | LinkedIn | Telegram | Medium | Instagram
This article first appeared at CryptoPotato
