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cryptonews 2025-01-09 17:02:33

Layer-1 Blockchain MANTRA to Tokenize $1B RWA for UAE-Based DAMAC Group

Layer-1 Blockchain MANTRA to Tokenize $1B RWA for UAE-Based DAMAC Group

Layer-1 blockchain MANTRA has entered into a $1 billion agreement with investment conglomerate DAMAC Group, aiming to revolutionize tokenized real-world assets ( RWA ) in the Middle East. With the partnership, DAMAC Group will leverage MANTRA blockchain to tokenize its at least $1 billion assets. “This partnership with DAMAC Group is an endorsement for the RWA industry,” said John Patrick Mullin, CEO of MANTRA. The Group will enable token-based financing for a wide range of assets. These assets will be available for the Group’s portfolio of companies, a release shared with Cryptonews, noted. Further, the Group aims to bring greater transparency, security, and accessibility to its assets through MANTRA blockchain. DAMAC Group comprise of real estate developments firms, hospitality and data centres. The Group started accepting crypto payments in 2022. “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.” The MANTRA Chain officially launched its Mainnet in October 2024, marking a significant step forward in bringing RWAs on-chain. Following the launch, its native OM token’s market cap surged by nearly 200% in the past three months to $3.6 billion, CoinGecko data noted. MANTRA Becomes Preferred Blockchain for RWAs The Layer-1 blockchain offers advanced tech modules, compliance mechanisms, and cross-chain interoperability. It empowers developers to seamlessly participate in the evolving RWA tokenization space. MANTRA implements regulatory mechanisms at the protocol level through its chain with its ‘compliance’ feature, pioneering compliance and innovation in RWA tokenization. Further, according to Boston Consulting Group, the RWA market will grow up to $16 trillion by 2030 . Additionally, BlackRock CEO Larry Fink earlier predicted that “the next generation of markets is tokenization.” The post Layer-1 Blockchain MANTRA to Tokenize $1B RWA for UAE-Based DAMAC Group appeared first on Cryptonews .

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