MANTRA Finance Secures VASP License in UAE
MANTRA Finance has recently obtained a Virtual Asset Service Provider (VASP) license from Dubai’s Virtual Assets Regulatory Authority (VARA). This significant milestone allows MANTRA to operate as a regulated trading platform in the United Arab Emirates (UAE).
Key Highlights
- MANTRA has secured a VASP license in UAE from VARA.
- MANTRA can now offer its DeFi products to both institutional clients and qualified investors within the UAE.
- The OM token, which has been on a strong bullish trend, jumped by 3% after the license announcement.
MANTRA Finance’s Expansion in the UAE Crypto Market
With the VASP license secured, MANTRA Finance is strategically positioning itself in the rapidly growing UAE crypto market. Known for bridging the gap between decentralized and traditional finance, MANTRA aims to offer innovative solutions to investors in the region.
Operational Capabilities and Compliance
The regulatory approval not only demonstrates MANTRA’s commitment to compliance but also enhances its operational capabilities in one of the world’s most dynamic financial hubs. The VASP license enables MANTRA to provide a range of DeFi products to institutional clients and qualified investors in the UAE.
Partnership with DAMAC Group
MANTRA had previously collaborated with Dubai-based DAMAC Group to introduce token-based financing for real-world assets valued at over $1 billion. This partnership showcases MANTRA’s dedication to revolutionizing traditional asset classes through blockchain technology.
MANTRA (OM) Token Price Surge
Following the VASP license announcement, the price of MANTRA’s native token, OM, experienced a surge, reaching an intraday high of $7.70. With a sustained bullish trend, the token has gained significant attention from investors and traders, rising by 102% in the past month and 3078.5% over the past twelve months.
Investors anticipate further growth for the OM token, with predictions of it reaching $10 in the near future.
