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Feb 19, 2025
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DeFi Platform MANTRA Obtains VASP License from Dubai’s VARA

1 min

MANTRA, a decentralized finance (DeFi) platform, obtained a Virtual Asset Service Provider (VASP) license from Dubai's Virtual Assets Regulatory Authority (VARA). Key points include:

  • The license enables MANTRA to operate as a virtual asset exchange and provide broker-dealer and investment management services.
  • This positions MANTRA for global expansion, focusing on tokenizing real-world assets (RWAs).
  • CEO John Patrick Mullin emphasized Dubai's leadership in crypto regulation, viewing the approval as critical for integrating decentralized and traditional finance.
  • MANTRA plans to launch regulatory-compliant financial products aimed at institutional investors.
  • The firm recently partnered with DAMAC Group to tokenize $1 billion of assets and added Google as a primary validator and infrastructure partner.

This move reflects MANTRA's commitment to responsible growth in the digital asset sector.