By
Steve Muchoki
April 17th, 2024
The new capital infusion will bolster MANTRA’s efforts to facilitate the widespread tokenization of Real World Assets (RWA).
In a major development, MANTRA, the Layer 1 blockchain for Real World Assets (RWA), announced the successful completion of a 411 million funding round. Shorooq Partners led this funding round along with contributions from other big players like Three Point Capital, Virtuzone, Forte Securities, GameFi Ventures, Hex Trust, and others.
The new capital infusion will bolster MANTRA’s efforts to facilitate the widespread tokenization of Real World Assets. These funds will be allocated to three key initiatives. The first involves building regulatory-compliant infrastructure following global standards.
The second initiative aims at providing developers with the necessary tools to develop RWA-centric protocols on the MANTRA Chain. Lastly, the third one is expanding the tokenization of real-world assets while exploring market potentials in the Middle East and North Africa (MENA) and Asia regions.
The $11 million funding round aligns with the debut of Hongbai, the incentivized testnet of MANTRA Chain. The introduction of the MANTRA Chain testnet aims to establish connections, both physical and symbolic, between the Middle East and Asia. It also paves the way for enhanced RWA tokenization and fostering cross-border economic cooperation. Speaking on the development, John Patrick Mullin, MANTRA CEO, said:
“This funding not only accelerates our vision of bringing the world’s financial ecosystem onchain, but also solidifies our commitment to the Hong Kong and Middle Eastern markets, where our physical offices in Hong Kong and Dubai stand as beacons of innovation. We’re crafting an infrastructure designed for builders, institutions, enterprises, and users keen on exploring RWAs. It’s a testament to our mission of making asset tokenization a cornerstone of financial inclusivity and market development.”
Empowering TradFi with MANTRA Chain
MANTRA is dedicated to expediting the acceptance of tokenized RWAs, facilitating the migration of billions of dollars in institutional capital onto the blockchain. Through MANTRA Chain, a compliant platform for RWAs’ creation and exchange, TradFi (Traditional Finance) firms can harness the advantages of blockchain technology. With its reliable and secure blockchain application, MANTRA will leverage the escalating interest in digital assets and blockchain innovations.
By expediting the integration of tokenized RWAs, MANTRA aims to tap into the $16 trillion RWA economy using a blockchain platform ready for regulatory compliance. With MANTRA Chain’s compliant structure, Traditional Finance (TradFi) entities can seamlessly transition to asset tokenization and blockchain solutions, fostering global RWA expansion.
MANTRA tackles industry obstacles such as liquidity fragmentation and cross-chain interoperability, establishing a robust and scalable foundation. Additionally, MANTRA will introduce a decentralized exchange (DEX) offering users a diverse product range focused on convenient access to tokenized real-world assets.