Mantra Finance Obtains Dubai VASP License to Expand Asset Tokenization Services
Mantra Finance has received a Virtual Asset Service Provider (VASP) license from Dubai's digital asset regulator, supporting its focus on compliance and innovation in decentralized finance.
Key points include:
- Expansion plans in the Middle East with a focus on real-world asset tokenization
- CEO John Patrick Mullin commended Dubai for its comprehensive virtual asset framework
- The license allows Mantra to offer DeFi products connecting decentralized and traditional finance for institutional and qualified investors
- Initial focus on large-scale tokenization for institutional clients, with future plans for retail investor access
- Collaborations with UAE firms like Damac and Zand to bring billions in assets on-chain
- Future announcements on new asset tokenization projects across various sectors
- Partnership with DAMAC Group for token-based financing of real-world assets worth over $1 billion
Market performance shows the OM token trading at $7.60, with a 2% gain in the last 24 hours and over 100% increase in the past month. Trading volume rose by more than 70% recently, indicating active user engagement. The VASP license and expansion efforts may enhance the token’s accessibility and popularity in the region.