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MANTRA Secures Virtual Asset Service Provider (VASP) License from Dubai’s Virtual Assets Regulatory Authority (VARA)

Decentralized Finance (DeFi) Platform Expands Global Reach

MANTRA, a decentralized finance (DeFi) platform, has secured a Virtual Asset Service Provider (VASP) license from Dubai’s Virtual Assets Regulatory Authority (VARA). This milestone enables MANTRA to operate as a virtual asset exchange and offer broker-dealer and investment management services in the region.

The license positions MANTRA for global expansion, reinforcing its focus on tokenizing real-world assets (RWAs). According to John Patrick Mullin, the firm’s Chief Executive Officer, Dubai is a leader in crypto regulation, and the approval is a “crucial step” in the platform’s strategy to bridge decentralized and traditional finance.

Regulatory Compliance and Global Expansion

“Regulatory compliance is fundamental to the trust we build with users,” Mullin emphasized. “This license reflects our long-term vision of driving responsible growth in the digital asset space.”

MANTRA plans to roll out DeFi products designed to meet both regional and international regulatory standards. The company’s goal is to offer regulatory-compliant financial products tailored to institutional investors, benefiting from Dubai’s progressive stance on Web3 and digital assets.

Partnership with DAMAC Group

Last month, MANTRA entered an agreement with United Arab Emirates-based property conglomerate DAMAC Group to bring at least $1 billion of the firm’s assets to blockchain rails.

Collaboration with Google

In 2024, MANTRA added Google as a primary validator and infrastructure partner for its blockchain, collaborating on an accelerator program for RWAs to encourage more development and innovation.

FAQs

Q: What is MANTRA’s goal with the VASP license?

A: The license enables MANTRA to operate as a virtual asset exchange and offer broker-dealer and investment management services in the region, positioning the platform for global expansion.

Q: What does the license mean for MANTRA’s focus on tokenizing real-world assets (RWAs)?

A: The license reinforces MANTRA’s focus on tokenizing RWAs, allowing the platform to expand its capabilities and offerings.

Q: How does Dubai’s Virtual Assets Regulatory Authority (VARA) contribute to the growth of the digital asset space?

A: VARA’s progressive stance on Web3 and digital assets has established Dubai as a leader in crypto regulation, attracting innovative companies like MANTRA to the region.

Q: What is the significance of MANTRA’s partnership with Google?

A: The partnership with Google enables MANTRA to leverage the tech giant’s infrastructure and expertise, accelerating the development and adoption of decentralized finance (DeFi) solutions.

Q: What is MANTRA’s vision for the future of finance?

A: MANTRA envisions a future where decentralized and traditional finance converge, enabled by regulatory-compliant DeFi products and solutions that benefit both institutional investors and the broader digital asset community.

Conclusion:
MANTRA’s VASP license from Dubai’s VARA marks a significant milestone in the platform’s global expansion, solidifying its position as a leading player in the decentralized finance (DeFi) space. With its focus on tokenizing real-world assets (RWAs) and commitment to regulatory compliance, MANTRA is poised to bridge the gap between decentralized and traditional finance, driving responsible growth and innovation in the digital asset space.