MANTRA, a well-known entity in the Middle East and North Africa (MENA) region, has taken a significant step forward in the tokenization of Real-World Assets (RWAs). According to reports, the platform has entered into a memorandum of understanding with Zand Bank, a licensed entity regulated by the Central Bank of the United Arab Emirates. This strategic move aims to simplify the process of tokenizing real-world assets.
MANTRA and Zand Bank Join Forces to Facilitate RWA Tokenization
This partnership is expected to establish a robust regulatory framework that aligns with the Virtual Asset Regulatory Authority of Dubai. The focus of MANTRA’s L1 blockchain on RWAs is aimed at streamlining the tokenization process by addressing the distribution, listing, and identification of real-world assets.
Furthermore, the collaboration between the two platforms will focus on creating frameworks that support the distribution of RWAs. These frameworks will provide detailed guidelines for RWA tokenization, ensuring compliance with regulatory standards and investor protection.
In an effort to promote confidence and widespread adoption of real-world asset tokenization in the UAE, the partnership aims to enhance transparency, security, and accessibility for users. John Patrick Mullin, CEO of MANTRA, expressed his vision for the partnership, emphasizing its focus on facilitating the exchange and custody of RWAs.
The Initiative Enhances Transparency, Security, and Accessibility for Users, Note Executives
The recent agreement between MANTRA and Zand Bank underscores their leadership in the digital finance sector in the Middle East. The collaboration aims to elevate the role of real-world assets in retail banking services in the region and establish market standards for tokenization procedures.
Michael Chan, CEO of Zand Bank, expressed excitement about leveraging MANTRA’s blockchain technology tailored for real-world assets. He highlighted the platform’s ability to redefine ownership and transaction management of RWAs with enhanced transparency.
Chan further mentioned that the partnership signifies a significant step in the company’s growth, combining robust financial investments with blockchain technology to empower consumers with greater control over their investments, along with improved transparency and security measures.