Revolutionizing Real-World Asset Tokenization in the UAE
Zand Bank PJSC and MANTRA recently signed a memorandum of understanding to enhance the process of real-world asset tokenization. This strategic partnership aims to simplify the identification, listing, and distribution of RWAs, aligning with the regulations set forth by the Virtual Asset Regulatory Authority of Dubai (VARA).
The collaboration between Zand Bank PJSC, a digital bank authorized by the Central Bank of the UAE, and MANTRA, a layer 1 blockchain platform focusing on RWAs, will also concentrate on creating frameworks that facilitate the tokenization and distribution of RWAs while ensuring compliance with regulatory standards and safeguarding investor interests. The goal is to establish transparent guidelines for the tokenization process, ensuring it complies with all legal requirements and regulatory frameworks. Through this joint effort, the partnership aims to build trust, confidence, and wider acceptance of RWA tokenization in the UAE.
John Patrick Mullin, MANTRA's CEO, emphasized the significance of the agreement, stating that it underscores the leading roles both Zand and MANTRA play in digital finance in the Middle East. The shared vision is centered on advancing the custody and exchange of real-world assets within the realm of retail banking services in the region, with a focus on setting industry standards for tokenization.
Michael Chan, the CEO of Zand, expressed enthusiasm about integrating MANTRA's blockchain technology designed specifically for RWAs. This integration marks a significant step forward in merging blockchain innovation with Zand's financial products, providing clients with enhanced control over their investments, increased security, and greater clarity about transaction processes. The primary objectives include simplifying operations, strengthening trust, ensuring asset legality, and expanding market access.
About Zand Bank
Zand Bank is committed to revolutionizing the financial landscape through innovation, AI, blockchain technology, and client-centric solutions. By bridging traditional finance and decentralized finance, Zand empowers corporate, institutional, and wealth clients in the UAE and globally to thrive in the digital economy.
For media queries, contact Mays Talib, Head of Marketing, at mays.t@zand.ae.
About MANTRA
MANTRA is a premier RWA Layer 1 Blockchain that upholds real-world regulatory requirements. As a permissionless chain, MANTRA enables developers and institutions to seamlessly participate in the evolving RWA tokenization space by offering advanced tech modules, compliance mechanisms, and cross-chain interoperability.
For more information about Zand Bank and MANTRA, you can visit their websites. If you have any media inquiries regarding MANTRA, reach out to Christoph Lidman, the Marketing Lead, at press@mantrachain.io.
