DeFi Platform MANTRA Receives Dubai License to Expand Its Global Operations
MANTRA has secured a VASP license from Dubai's regulatory authority, aiming to enhance its services and expand in the Middle East.
DeFi Platform MANTRA Receives Dubai License to Expand Its Global Operations
The platform recently added Google as a primary validator and infrastructure to its blockchain.
What to know:
- DeFi platform MANTRA has obtained a Virtual Asset Service Provider (VASP) license from Dubai’s Virtual Assets Regulatory Authority (VARA).
- The license strengthens MANTRA’s presence in the Middle East and supports its focus on tokenizing real-world assets (RWAs).
- The platform aims to bridge decentralized and traditional finance with regulatory-compliant investment products for institutional and qualified investors.
HONG KONG - Decentralized finance (DeFi) platform MANTRA announced it successfully secured a Virtual Asset Service Provider (VASP) license from Dubai’s Virtual Assets Regulatory Authority (VARA). This authorization enables the platform to operate as a virtual asset exchange and to provide broker-dealer and investment management services in the region. As a result, MANTRA, which is focusing on the Middle Eastern market, is positioned for global expansion while reinforcing its emphasis on tokenizing real-world assets.
The firm’s Chief Executive Officer, John Patrick Mullin, noted that Dubai has emerged as a leader in the realm of cryptocurrency regulation. He described the approval as a “crucial step” in the platform’s strategy aimed at connecting decentralized and traditional finance. With this new license, MANTRA intends to offer regulatory-compliant financial products tailored for institutional investors, benefiting from Dubai’s progressive approach towards Web3 and digital assets.
Additionally, the company plans to introduce DeFi products that meet local and international regulatory standards. “Regulatory compliance is fundamental to the trust we build with users,” Mullin stated. “This license reflects our long-term vision of driving responsible growth in the digital asset space.”
Recently, the platform also entered an agreement with DAMAC Group, a prominent property firm in the UAE, to tokenize assets worth at least $1 billion.
In 2024, MANTRA integrated Google as a primary validator to its blockchain and collaborated with the tech giant on an accelerator program aimed at fostering innovation related to RWAs.
Disclaimer: Parts of this article were generated with the assistance of AI tools and reviewed for accuracy.
