MANTRA, a leading presence in the MENA region, has taken a significant step forward in the tokenization of RWAs. The platform has officially entered into a memorandum of understanding with Zand Bank, a licensed entity regulated by the Central Bank of the United Arab Emirates. This strategic move by MANTRA aims to streamline the process of tokenizing real-world assets.
MANTRA and Zand Bank Collaborate to Simplify RWA Tokenization
This partnership is expected to establish a robust regulatory framework in compliance with the Virtual Asset Regulatory Authority of Dubai. The focus of MANTRA’s cutting-edge L1 blockchain technology is to simplify the tokenization process of RWAs, including their distribution, listing, and identification.
Furthermore, the collaboration between these two platforms will prioritize the development of frameworks to support the distribution of RWAs. These frameworks will provide detailed guidelines for RWA tokenization, ensuring adherence to regulatory standards and investor protection. The partnership aims to build confidence, trust, and widespread adoption of real-world asset tokenization across the UAE.
John Patrick Mullin, the CEO of MANTRA, expressed his vision for the partnership, emphasizing its goal of facilitating the exchange and custody of RWAs. This initiative is designed to offer users greater transparency, security, and accessibility in their interactions with real-world assets.
The recent agreement between MANTRA and Zand Bank underscores their leadership in the digital finance sector in the Middle East. The collaboration seeks to elevate the importance of real-world assets in retail banking services within the region and establish market standards for tokenization processes.
Michael Chan, CEO of Zand Bank, highlighted the platform’s excitement to leverage MANTRA’s blockchain technology, specifically designed for real-world assets. This innovative blockchain is set to revolutionize the management of ownership and transactions of RWAs, ensuring transparency throughout the process.
Chan further emphasized that the partnership marks a significant step in the company’s evolution, aiming to merge sound financial investments with blockchain technology. This integration will empower consumers with greater control over their investments, enhanced transparency, and improved security measures.