MANTRA, a leading entity in the MENA region, has taken a significant step forward in the tokenization of RWAs. The platform has recently entered into a memorandum of understanding with Zand Bank, a licensed entity operating under the Central Bank of the United Arab Emirates. This strategic move by MANTRA aims to streamline the process of tokenizing real-world assets.
The partnership between MANTRA and Zand Bank is set to establish a robust regulatory framework in line with the Virtual Asset Regulatory Authority of Dubai. MANTRA’s L1 blockchain, with a focus on RWAs, is at the forefront of simplifying the tokenization process. This includes the distribution, listing, and identification of real-world assets.
The collaboration will also focus on creating frameworks to support the distribution of RWAs, providing detailed guidelines for tokenization while ensuring compliance with regulatory standards and investor protection. The goal of the partnership is to build confidence, trust, and widespread adoption of tokenized real-world assets in the UAE. John Patrick Mullin, CEO of MANTRA, highlighted the importance of this partnership in facilitating the exchange and custody of RWAs.
The initiative is expected to offer users more transparency, security, and accessibility. The partnership between MANTRA and Zand Bank underscores their leading positions in the digital finance landscape of the Middle East. The focus is on elevating the role of real-world assets in retail banking services and setting market standards for tokenization processes.
Michael Chan, CEO of Zand Bank, expressed excitement about leveraging MANTRA’s blockchain technology tailored for real-world assets. The blockchain is designed to redefine ownership and transaction management of RWAs, enhancing transparency. The partnership represents a significant step forward for Zand Bank in combining financial investments with blockchain technology to provide consumers with greater control, transparency, and security over their investments.
