Mantra Partners with DAMAC for $1B Tokenized Asset Deal

Mantra’s team has partnered with the DAMAC Group to improve accessibility for tokenized assets in the MENA region. It’s a multi-faceted investment company and they’ve agreed to a staggering $1 billion dollar deal with Mantra for this purpose. Starting from early 2025, users would be able to tokenize the assets of the DAMAC Group via the Mantra’s Blockchain.

Modern Asset Tokenization

The DAMAC Group is a global conglomerate in sectors of fashion, manufacturing, hospitality, catering and more with numerous flagship companies worth billions. The group has its base in the UAE and is spread globally with offices in almost continents. Looking into the future, DAMAC will take a step further by exploring asset tokenization with hopes to attach additional use cases, while also enabling token lending for their existing assets.

In the words of DAMAC ‘s spokesperson, “ It is a simple decision to partner with Mantra as we always look ahead into the future. Tokenizing our assets will offer our clients amazing opportunities in investment openings as we will also partner with trusted investment firms while they get guaranteed segmentation.”

John Patrick Mullin, the CEO of Mantra appreciates the collaboration as he said the following, “Tokenization of assets and bringing them on the blockchain is the future. Traditional financing methods are about to boom in the future, and we can’t be more excited to be partnering up with the DAMAC Group. We hope this collaboration will serve as a beacon for the RWA industry.”

Mantra Starts Growing

Mantra has taken the crypto market by surprise by parterning with major firms like Chainlink, Google Cloud, Hex Trust and Anchorage in its mainnet launch back in October 2024.

Those partnerships have taken Mantra’s native token, OM, to a whole other level. Even though Mantra has barely risen above $4 lately, that has placed it as the 42nd biggest primary market of all the cryptocurrencies with a worth of $3.7 billion.