MANTRA, a prominent player in the MENA region, has taken a significant step in the tokenization of Real World Assets (RWAs). The platform has recently 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 aims to streamline the process of tokenizing real-world assets.
MANTRA and Zand Bank Join Forces to Simplify RWA Tokenization
This partnership is expected to establish a robust regulatory framework in alignment with the Virtual Asset Regulatory Authority of Dubai. MANTRA’s L1 blockchain, with a focus on RWAs, is set to simplify the tokenization process by facilitating the distribution, listing, and identification of real-world assets.
Furthermore, the collaboration between the two platforms will focus on creating frameworks that support the distribution of RWAs. These frameworks will provide detailed guidelines for RWA tokenization, ensuring compliance with regulatory standards and investor protection. The partnership aims to instill confidence, trust, and widespread adoption of real-world asset tokenization in the UAE.
John Patrick Mullin, the CEO of MANTRA, expressed his vision for the partnership, emphasizing its goal of enabling the exchange and custody of RWAs. The initiative aims to offer users increased transparency, security, and accessibility.
The agreement between MANTRA and Zand Bank underscores their leadership in the digital finance landscape of the Middle East. The collaboration aims 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, shared his excitement about leveraging MANTRA’s blockchain technology, which is specifically designed for real-world assets. He highlighted the platform’s ability to redefine the management of ownership and transactions of RWAs with enhanced transparency.
Chan further emphasized that the partnership represents a significant step in the company’s growth strategy, combining robust financial investments with blockchain technology. This approach will empower consumers with greater control over their investments, while enhancing transparency and security.