MANTRA closes $1b RWA deal with UAE-based DAMAC Group
Tokenized real-world values platform MANTRA has entered into a landmark $1 billion deal with DAMAC Group, the Middle East's leading investment conglomerate.
On January 9, L1 blockchain announced a $1 billion deal that will allow partners to tokenize assets in the region. DAMAC Group's businesses include real estate, hospitality and data centers. MANTRA is a real world assets blockchain platform and cryptocurrency.
MANTRA eyes $1 billion tokenized RWA market
MANTRA and DAMAC Group will work together to bring token-based financing to many of the group's assets. The partnership is targeting a token drive of at least $1 billion. Assets in the DAMAC Group portfolio will go live on the MANTRA Chain as early as 2025.
“This collaboration with the DAMAC Group is a support for the RWA industry. “We are thrilled to partner with such a distinguished group of leaders who share our ambitions and see the incredible opportunity to bring traditional financing opportunities on-chain,” MANTRA CEO John Patrick Mullin said in a statement.
Amira Sajavani, Managing Director of Sales and Development at Dimac, added that the partnership will enable investors to access investment opportunities that benefit from security, transparency and convenience.
MANTRA's mainnet went live in October, the L1 network saw notable integrations of traditional finance and decentralized finance players embracing blockchain technology.
The platform has achieved significant milestones for its native OM with major exchange listings. Mantra has hit development benchmarks in bridges, stocks and swaps and liquidity pools.
