Dubai Grants MANTRA a VASP License to Lead Asset Tokenization

• MANTRA’s VASP license offers virtual asset services and expands in the Middle East.  
• The company partners with firms to bring tokenized assets into various industries.  
• Dubai’s regulations back MANTRA’s goal of uniting decentralized and traditional finance.

MANTRA has obtained Dubai’s first Virtual Asset Service Provider (VASP) license from the Virtual Assets Regulatory Authority (VARA). This license allows the platform to operate as a virtual asset exchange and offer broker-dealer, investment, and management services across the UAE. It also strengthens MANTRA’s global expansion strategy by enabling the launch of legally compliant financial products tailored to institutional and qualified investors. 

Global and Regional Expansion

MANTRA’s newly acquired VASP license positions the firm to scale its operations in the Middle East, focusing on the tokenization of real-world assets. This approval reaffirms its commitment to innovation, security, and transparency while adhering to strict compliance standards.

Dubai has come out as a leading hub for crypto regulation, with VARA pioneering a comprehensive framework for virtual assets and Web3. John Patrick Mullin, CEO of MANTRA, acknowledged the significance of this development, stating, 

By establishing the most timely, comprehensive, and built-from-the-ground-up framework for virtual assets and Web3, Dubai and VARA have become world leaders in crypto regulation. This license was a crucial step for MANTRA and a key step in our journey towards global expansion.

In addition to strengthening its footprint in the UAE, MANTRA is set to introduce several regulatory-compliant financial solutions. These products aim to bridge the gap between decentralized finance and traditional finance, providing new opportunities for investors.

Tokenization and Institutional Collaborations

As part of its expansion efforts, MANTRA is collaborating with entities across the UAE in order to tokenize billions of dollars in assets on-chain. The company’s partnerships include organizations such as Damac, Libre, MAG, Novus Aviation, and Zand. These collaborations aim to accelerate asset tokenization across various industries in the coming months.

Dubai ranks among the world’s top destinations for crypto businesses, alongside Switzerland and South Korea. Despite its progressive regulatory environment, VARA introduced stricter marketing regulations for virtual assets on October 1, 2024 These guidelines ensure transparency and prevent misleading promotions for both local and foreign firms targeting UAE residents.

MANTRA’s expansion into the Middle East raises a critical question: How will the tokenization of real-world assets reshape global financial markets in the years ahead? 

Related: MANTRA (OM) Up 530% Since October – Correction or New Highs?

Bridging DeFi and Traditional Finance

Obtaining regulatory approval strengthens the company’s position in the DeFi sector, which prioritizes transparency, security, and regulatory compliance. Mullin observed the seriousness of this approval, stating, 

The UAE and the MENA region have fast become a progressive global hub and thriving ecosystem for Web3 and virtual assets, owing to their regulatory initiatives and frameworks. This license not only strengthens our presence regionally but also positions us internationally to deliver unique DeFi products that bridge the gap between decentralized finance and traditional finance.

By using Dubai’s framework, MANTRA aims to shape the future of financing while ensuring security and compliance. Its growth shows the institutional interest in DeFi and the environment of tokenized assets.

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