MANTRA Secures $1 Billion Agreement with DAMAC Group
MANTRA, a tokenized real-world assets platform, has announced a groundbreaking $1 billion collaboration with DAMAC Group, a prominent investment conglomerate based in the Middle East.
Partnership Details
On January 9th, the L1 blockchain revealed the partnership that will involve tokenizing assets within the region. DAMAC Group’s diverse business operations span across real estate, hospitality, data centers, and more, while MANTRA operates as a real-world assets blockchain platform and cryptocurrency.
Market Expansion
- MANTRA and DAMAC Group aim to introduce token-based financing for various assets.
- The collaboration targets a minimum $1 billion tokenization initiative.
- Assets from DAMAC Group’s portfolio will be tokenized on MANTRA Chain by early 2025.
John Patrick Mullin, CEO of MANTRA, expressed excitement about the partnership, emphasizing its significance for the real-world assets industry.
Amira Sajwani, the managing director of sales & development at DAMAC, highlighted the benefits the partnership will offer investors in terms of security, transparency, and convenience.
MANTRA’s mainnet was launched in October, witnessing integrations from both traditional finance and decentralized finance sectors as they embrace its blockchain technology. The platform has achieved milestones with its native token OM, securing listings on major exchanges and reaching development goals with features like bridge, staking, and swap & liquidity pools.
