MANTRA, the institutional-grade Layer 1 blockchain platform for tokenized Real-World Assets (RWAs), has tapped a partnership with DAMAC Group, an investment conglomerate.
Leveraging the partnership, MANTRA and DAMAC have signed a $1 billion agreement to boost RWA tokenization.
Scope of the MANTRA and DAMAC Partnership
As contained in a press release shared with The Coin Republic, the partnership will focus on tokenizing $1 billion worth of DAMAC’s varied portfolio of assets.
The firm noted that the tokenized assets will provide investors a secure, transparent, and convenient way to invest in DAMAC. Therefore, investors can tap into liquidity previously unavailable in the traditional market.
The DAMAC tokenized assets will be exclusively available on the MANTRA Chain in early 2025.
Notably, the partnership aligns with MANTRA’s vision to become the preferred record ledger for real-world assets.
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For DAMAC, it marks a new step towards leveraging blockchain technology to bring greater transparency, security, and accessibility to its expanding assets.
DAMAC is a Dubai-based firm know for a diverse portfolio. As listed, the firm’s portfolio spans key sectors like hospitality, real estate development, and data centers.
The Pursuit of Innovation
Amira Sajwani, DAMAC Managing Director of Sales & Development, noted that the partnership emphasizes the firm’s commitment to innovation and forward-thinking solutions.
MANTRA CEO John Patrick Mullin commented that the partnership with DAMAC is an endorsement of the RWA industry. Mullin added,
“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.”
It is important to note that MANTRA’s tokenization drive is not limited to Hong Kong and the UAE. The firm is consistently assisting entities in mastering the complexities of RWA tokenization.
Moreover, this tokenization agenda will also go beyond MANTRA and DAMAC. Other notable firms in traditional finance and Web3 are focusing on this niche.
Chainlink’s CEO Sergey Nazarov even forecasted that the RWA tokenization industry would eventually surpass the entire crypto market.
As a note to innovators, he further stated that Chainlink is strategically positioned and extensively utilized within the RWA sector.
Recent MANTRA Updates
Meanwhile, the MANTRA and DAMAC partnership comes on the heels of the former’s chain mainnet launch in October. This launch represents MANTRA’s move toward bringing RWAs onchain.
The MANTRA Chain Mainnet seeks to provide a customizable set of tools built with reliable network security and strict compliance. The platform provides an alternative route for onboarding traditional finance participants.
With the protocol, firms pursuing RWA innovations can streamline the transfer of real-world assets into the blockchain.
Before the mainnet launch, MANTRA partnered with Ondo Finance to unlock the trillion-dollar potential of real-world asset tokenization.
Subsequently, MANTRA launched its USDY vault, which offers users access to yield supported by short-term US Treasuries within the DeFi sector.
The MANTRA USDY vault, powered by Ondo Finance’s USDY yieldcoin, is an appealing alternative to traditional financial instruments.
It offers full transparency regarding its underlying asset portfolio, enhancing investor confidence through a secure and trustworthy framework.
Source: https://www.thecoinrepublic.com/2025/01/09/mantra-signs-1b-tokenized-real-world-assets-deal-with-damac/