Mantra Partners with DAMAC Group to Tokenize $1 Billion in Assets

In a latest development, Mantra, a blockchain built for tokenized real-world assets (RWAs), signed a $1 billion agreement with Damac Group, an investment conglomerate, to enable token-based finance in the Middle East. Notably, DAMAC’s portfolio encompasses real estate developments firms, hospitality and data centers, and started accepting crypto payments in 2022. It will use Mantra to tokenize its extensive asset portfolio. The partnership aims to bring blockchain-powered transparency, security and access to Damac’s assets, which will be exclusively available on the Mantra chain early this year. The companies aim to streamline traditional investment processes and enhance accessibility for both retail and institutional investors by tokenizing assets.