Mantra signs $1 billion deal to tokenize assets in the Middle East

Mantra, a layer-1 blockchain focused on real-world assets (RWAs), recently entered into a significant agreement with DAMAC Group, an investment conglomerate, to expand access to tokenized assets in the Middle East.

“We are pleased to announce a strategic partnership with DAMAC Group to tokenize real-world assets (RWAs) in the Middle East. DAMAC Group is a leading real estate development conglomerate known for its diversified investment portfolio in the UAE,” it said in its statement. release official.

The partnership, valued at $1 billion, will enable users to tokenize DAMAC Group assets from early 2025 using the Mantra blockchain. This collaboration marks an important milestone for the adoption of blockchain technology in real estate and other sectors covered by DAMAC Group. “This strategic alliance aims to rapidly drive the adoption of RWA through fractional ownership and tokenization of real estate in the Middle East.”

Mantra’s collaboration with DAMAC Group will enable token-based financing for a wide range of assets, spanning real estate, hospitality, data centers and other critical sectors. Headquartered in the United Arab Emirates (UAE), DAMAC Group has offices across North America, Africa, Asia and Europe. Amira Sajwani, General Manager of Sales and Development at DAMAC, expressed excitement about the partnership, saying:

“DAMAC is always exploring new technologies to enhance our product offerings. The partnership with MANTRA is a natural extension of our commitment to innovation and groundbreaking solutions. Tokenizing our assets will provide investors with a secure, transparent and convenient way to access a wide range of investment opportunities.”

The partnership aims to address traditional limitations in real estate investment, as well as open up investment opportunities in the Middle East real estate market, according to the vision explained by Mantra in its official statement.

A MANTRA (OM) cryptocurrency has been gaining increasing popularity in the cryptocurrency market. Launched in 2020, MANTRA is a vertically integrated blockchain ecosystem known for its open and honest approach to cryptocurrency trading, fundraising, and innovation.