Tokenized real-world belongings platform MANTRA has struck a notable $1 billion settlement with DAMAC Group, a prime funding conglomerate within the Center East.
On Jan. 9, the L1 blockchain introduced that it had sealed the $1 billion deal in a collaboration that can see the companions tokenize belongings within the area. DAMAC Group’s enterprise operations embrace in actual property, hospitality and knowledge centres amongst others. MANTRA is a real-world belongings blockchain platform and cryptocurrency.
MANTRA eyes $1 billion tokenized RWA market
MANTRA and DAMAC Group will work collectively to convey token-based financing to a number of of the group’s belongings. The partnership targets a tokenization drive with a minimal $1 billion. Belongings in DAMAC Group’s portfolio will go stay on MANTRA Chain in early 2025.
“This partnership with DAMAC Group is an endorsement for the RWA business. We’re thrilled to associate with such a prestigious group of leaders that share our ambitions and see the unbelievable alternatives of bringing conventional financing alternatives on-chain,” John Patrick Mullin, chief govt officer of MANTRA stated in an announcement.
Amira Sajwani, managing director of gross sales & improvement at DAMAC, added that the partnership will supply buyers entry to funding alternatives that profit from safety, transparency and comfort.
MANTRA’s mainnet went stay in October, with the L1 community seeing notable integrations as conventional finance and decentralized finance gamers embrace its blockchain expertise.
The platform has recorded important milestones for its native token OM with main trade listings. Mantra additionally hit improvement landmarks with bridge, staking and swap & liquidity swimming pools.
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