MANTRA partnership with DAMAC merges blockchain with traditional financial systems, paving the way for secure, transparent, and accessible tokenized investment opportunities.
By Bena Ilyas
Edited by Marco T. Lanz
Updated
3 mins read
MANTRA, the Layer 1 blockchain for Real World Assets (RWA), has teamed up with the prominent DAMAC Group to make waves in the financial and technological sectors, according to a press release shared with Coinspeaker. The duo sealed a groundbreaking $1 billion deal to tokenize DAMAC’s diverse portfolio of assets, setting a new benchmark for blockchain integration in the Middle East.
The DAMAC Group, a UAE-based powerhouse known for its ventures in real estate, hospitality, data centers, and fashion, is paving the way for blockchain-driven investment opportunities. By early 2025, its tokenized assets will be exclusively available on MANTRA Chain, opening the door for secure, transparent, and accessible investments.
“This partnership with DAMAC Group is an endorsement for the RWA industry. We’re thrilled to partner with such a prestigious group of leaders that share our ambitions and see the incredible opportunities of bringing traditional financing opportunities onchain,” said John Patrick Mullin, CEO of MANTRA.
MANTRA’s partnership with DAMAC marks a pivotal step following the Mainnet launch in October, underscoring efforts to merge blockchain with traditional financial systems. DAMAC, known for its diverse portfolio spanning real estate, high-fashion labels like Roberto Cavalli, and luxury ventures such as a Maldives resort, showcases the immense opportunities in tokenized investments.
Amira Sajwani, Managing Director of Sales & Development at DAMAC, expressed the group’s forward-thinking approach:
“DAMAC is always exploring new technologies to enhance our product offerings. Partnering with MANTRA is a natural extension of our commitment to innovation and forward-thinking solutions. Tokenizing our assets will provide investors with a secure, transparent, and convenient way to access a wide range of investment opportunities.”
The initiative strengthens MANTRA’s position as a leader in integrating blockchain with real-world assets. Enhanced by cross-chain interoperability and robust compliance measures, MANTRA equips businesses to adapt seamlessly to the dynamic tokenization ecosystem.
In March 2024, MANTRA secured $11 million in a funding round led by Shorooq Partners, with participation from industry giants like Virtuzone and Hex Trust, as Coinspeaker previously reported. That momentum continued in July 2024 when MANTRA joined forces with MAG, a leading UAE real estate developer, to tokenize $500 million worth of MAG’s assets.
DAMAC’s global footprint and ambitious projects further underscore the potential impact of the partnership. The group’s presence spans North America, Europe, Asia, and Africa, with ventures ranging from the iconic DAMAC Towers Nine Elms in London to data centers developed under EDGNEX Data Centers by DAMAC.
Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.
With over 3 years of crypto writing experience, Bena strives to make crypto, blockchain, Web3, and fintech accessible to all. Beyond cryptocurrencies, Bena also enjoys reading books in her spare time.
