By
Steve Muchoki
April 17th, 2024
The imminent launch of the final MANTRA testnet, known as Hongbai, represents a synergistic blend of Hong Kong and Dubai influences and an important step towards MANTRA Chain becoming the first RWA Layer 1 on Cosmos.
MANTRA has announced its application for essential financial licenses in Hong Kong and the United Arab Emirates (UAE) in a move towards mainstreaming Real World Asset (RWA) tokenization.
MANTRA’s Vision for RWA Tokenization
According to a press release shared with Coinspeaker, these licenses will enable MANTRA to operate within these crypto-friendly regions and facilitate businesses in exploring the benefits of asset tokenization.
With dedicated teams in Hong Kong and the UAE, MANTRA is working on regulatory and compliance frameworks tailored to these markets. This strategic localization ensures that MANTRA’s platform is optimally designed for tokenizing a diverse portfolio of assets, ranging from real estate and private market funds to art and treasuries.
John Patrick Mullin, CEO of MANTRA, articulated the company’s vision, stating:
“Our vision is to spearhead the tokenization of Real World Assets and set a global standard for security, compliance, and innovation. This will create a sustainable ecosystem for developers and institutions. By securing our foothold in strategic, crypto-friendly markets like Hong Kong and the UAE, we’re not just navigating the future but actively building it.”
Through the establishment of a solid legal foundation, MANTRA is well-positioned to assist enterprises in mastering the complexities of RWA tokenization. In doing so, the company aims to set new benchmarks for security and regulatory compliance, crucial components in the realm of RWA tokenization.
MANTRA Aims Towards Decentralization and Global Adoption
MANTRA’s comprehensive licensing framework and security-first Layer 1 blockchain will ensure adherence to stringent security protocols, thus supporting the platform’s adoption and safeguarding tokenized assets.
As the first RWA Layer 1 blockchain capable of adhering to and enforcing real-world regulatory requirements, MANTRA is tailored to support the tokenization of various traditional financial products.
These include private equity funds, listed equity securities, and securities backed by governments, among others. With its focus on addressing liquidity fragmentation and cross-chain interoperability, MANTRA sets the foundation for a secure and scalable infrastructure in the world of asset tokenization.
At the heart of MANTRA’s ecosystem lies its layer 1 blockchain, MANTRA Chain. Designed to facilitate the issuance and trading of tokenized RWAs, MANTRA Chain is set to onboard financial organizations seeking to leverage the benefits of tokenized assets in 2024. To support the establishment of fully compliant RWA infrastructure, MANTRA has proactively engaged with evolving regulatory frameworks in key regions.
The imminent launch of the final MANTRA testnet, known as Hongbai, represents a synergistic blend of Hong Kong and Dubai influences and an important step towards MANTRA Chain becoming the first RWA Layer 1 on Cosmos.
Moreover, the Genesis Drop, a key opportunity for early supporters of the MANTRA Chain, demonstrates the protocol’s dedication to its community and early adopters. With a 6% allotment of the overall supply as a reward for their first support and trust, the Genesis Drop is a smart step to build loyalty and participation among MANTRA’s supporters, setting the groundwork for a strong ecosystem as the platform grows.