MANTRA, a blockchain platform dedicated to Real World Asset (RWA) tokenization, and Zand Bank PJSC, a licensed digital bank in the UAE, have signed a Memorandum of Understanding (MOU) to streamline the process of tokenizing real-world assets. This process includes identifying, listing, and distributing RWAs.
In line with the regulations set by the Virtual Asset Regulatory Authority of Dubai (VARA), the collaboration between MANTRA and Zand Bank will focus on establishing frameworks to simplify the tokenization and distribution of RWAs. These frameworks aim to provide clear guidelines for tokenizing RWAs, ensuring compliance with relevant regulatory requirements, investor protection measures, and compliance standards. Through this collaboration, the partners aim to build trust, confidence, and promote widespread adoption of RWA tokenization across the UAE.
John Patrick Mullin, CEO of MANTRA, expressed:
“We are excited to partner with Zand Bank to accelerate the tokenization of real-world assets. This collaboration will help us establish standardized processes to ensure compliance and investor protection.”
Michael Chan, CEO of Zand, commented:
“Our partnership with MANTRA marks a significant step towards enhancing the tokenization of RWAs in the UAE. By working together, we hope to create a framework that will benefit both investors and the industry as a whole.”
