The blockchain platform MANTRA has entered into a significant partnership with DAMAC Group, aimed at the tokenization of real-world assets worth $1 billion.
Scope of the MANTRA and DAMAC Partnership
According to a press release shared with The Coin Republic, the partnership will focus on tokenizing $1 billion worth of DAMAC's portfolio. The tokenized assets will offer investors a secure and transparent method to invest, providing liquidity previously unavailable in traditional markets. These assets will be available on the MANTRA Chain in early 2025. The partnership aligns with MANTRA's vision of becoming the preferred ledger for real-world assets, marking a new step for DAMAC in leveraging blockchain technology.
The Pursuit of Innovation
Amira Sajwani, DAMAC Managing Director of Sales & Development, noted that the partnership emphasizes their commitment to innovation. MANTRA CEO John Patrick Mullin commented that the collaboration supports the RWA industry. Quote: CITE_NA
Recent MANTRA Updates
The partnership with DAMAC follows the launch of MANTRA's mainnet chain in October, marking a significant move towards onchaining real-world assets and offering new pathways for traditional finance participants to integrate onto the blockchain. Previously, MANTRA partnered with Ondo Finance, unlocking the trillion-dollar potential of RWA tokenization. MANTRA also launched its USDY vault, backed by short-term US Treasuries, within the DeFi sector.
The deal with DAMAC underscores MANTRA's efforts to transform its blockchain platform into the leading ledger for real-world assets, highlighting both companies' commitment to innovation and transparency in asset management.
