MANTRA, a blockchain platform focused on Real-World Assets (RWA), and Zand Bank PJSC, a licensed digital bank in the United Arab Emirates, have signed a Memorandum of Understanding (MOU) to accelerate the process of tokenizing real-world assets. This process includes the identification, listing, and distribution of RWAs.
In line with the guidelines provided by the Virtual Asset Regulatory Authority of Dubai (VARA), the collaboration between MANTRA and Zand Bank will also focus on developing frameworks to facilitate the tokenization and distribution of RWAs. These frameworks aim to provide clear guidelines for the tokenization of RWAs, ensuring compliance with relevant regulatory rules, investor protection measures, and compliance standards. The objective of this partnership is to build confidence, trust, and widespread adoption of RWA tokenization across the United Arab Emirates.
John Patrick Mullin, CEO of MANTRA, commented on the collaboration:
“We are excited to partner with Zand Bank to enhance the process of tokenizing real-world assets. By working together, we aim to create a robust framework that ensures the compliance and security of RWA tokenization, ultimately fostering trust and confidence in the market.”
Michael Chan, CEO of Zand Bank, also expressed his thoughts on the partnership:
“Our collaboration with MANTRA aligns with our vision of leveraging blockchain technology to drive innovation in the digital banking sector. By tokenizing real-world assets, we aim to unlock new opportunities for investors and promote the growth of the digital economy in the United Arab Emirates.”
