MANTRA to Tokenize $1B RWA for UAE-Based DAMAC Group
Layer-1 blockchain MANTRA announced on Thursday a $1 billion partnership with the UAE-based DAMAC Group to tokenize real-world assets (RWA) in the Middle East.
DAMAC Group plans to tokenize assets worth $1 billion using the MANTRA blockchain. “This partnership with DAMAC Group highlights the growing potential of the RWA industry,” said John Patrick Mullin, CEO of MANTRA.
🕉️🚨𝗕𝗥𝗘𝗔𝗞𝗜𝗡𝗚: MANTRA and DAMAC Group @DAMACOfficial Revolutionize Tokenized Real-World Assets with US$1 Billion Deal.#MANTRA and #DAMAC Group will collaborate to enable token-based financing for a diverse range of assets, spanning real estate, hospitality, data centers,… pic.twitter.com/AblEjLgoWH
— MANTRA | Mainnet Live (@MANTRA_Chain) January 9, 2025
The partnership will allow DAMAC Group to introduce token-based financing for a diverse range of assets, benefiting its portfolio of companies, according to a release shared with Cryptonews.
The Group is focused on improving transparency and securing investor access to its tokenized assets through the MANTRA blockchain.
DAMAC Group includes companies in real estate development, hospitality, and data centers.
The company, which began accepting cryptocurrency payments in 2022, is now expanding its digital asset initiatives through tokenization.
“Partnering with MANTRA is a natural extension of our commitment to innovation and forward-thinking solutions,” Amira Sajwani, Managing Director of Sales & Development at DAMAC, noted.
“Tokenizing our assets will provide investors with a secure, transparent, and convenient way to access a wide-range of investment opportunities,” she added.
MANTRA Blockchain Advances RWA Tokenization
The MANTRA Chain launched its Mainnet in October 2024, facilitating the on-chain tokenization of RWAs.
⛓️Mantra Chain mainnet will comprise “customisable suite of tools” built with regulatory compliance and network security.#MANTRA #Layer1Blockchain #RWAhttps://t.co/h3ZuLGOxb2
— Cryptonews.com (@cryptonews) October 23, 2024
MANTRA provides advanced technology modules, regulatory mechanisms, and cross-chain interoperability to support developers in the RWA tokenization sector.
The blockchain incorporates compliance mechanisms at the protocol level to address regulatory requirements in RWA tokenization.
This ensures a secure and transparent approach to integrating real-world assets into blockchain-based systems.
The partnership aligns with projections by Boston Consulting Group, which estimates the RWA market could reach $16 trillion by 2030.
Additionally, BlackRock CEO Larry Fink earlier predicted that “the next generation of markets is tokenization.”
Source: cryptonews.com
