Dubai, UAE, March nineteenth, 2024, Chainwire
MANTRA ($OM), the Layer 1 blockchain for Actual World Property (RWA), has introduced the completion of a brand new funding spherical. High enterprise and expertise investor within the MENA area, Shorooq Partners, led the $11M funding spherical. Moreover, a various vary of strategic buyers comparable to Three Point Capital, Forte Securities, Virtuzone, Hex Trust, GameFi Ventures, Caladan, Token Bay Capital, BlackPine, Mapleblock, Fuse Capital, 280 Capital and others, joined the funding.
The contemporary capital injection will improve MANTRA’s purpose of enabling RWA tokenization to function at scale. Funds will probably be used to obtain three important targets: constructing regulatory-compliant infrastructure that adheres to international requirements, empowering builders with the instruments wanted to create RWA-focused protocols on MANTRA Chain, and increasing the tokenization of real-world property whereas spotlighting market alternatives between the Center East and North Africa (MENA) in addition to Asia.
MANTRA ($OM) goals to make investing extra accessible within the Center East and Asia by boosting market liquidity and fostering development. This may stimulate financial exercise and improvement in these areas, which have beforehand confronted boundaries to getting into monetary markets. Simplifying the method of shopping for and promoting property will create new funding avenues, promote entrepreneurship, and appeal to international buyers. This aligns with the targets of each areas to lead in monetary innovation, driving financial development and prosperity within the area.
MANTRA ($OM) is on a mission to speed up the adoption of tokenized RWAs by enabling billions of {dollars} in institutional capital to transfer onchain. MANTRA Chain supplies a compliant framework for the creation and buying and selling of RWAs, empowering TradFi corporations to faucet into the numerous advantages afforded by blockchain expertise. By providing a tangible, safe, and steady utility of blockchain expertise, MANTRA is well-positioned to capitalize on the rising curiosity in digital property and blockchain options.
The $11M funding spherical coincides with the discharge of Hongbai, MANTRA Chain’s incentivized testnet. Its identify a portmanteau of Hong Kong and Dubai, Hongbai indicators MANTRA’s intent to focus its onboarding efforts in these two monetary hotspots. The launch of the MANTRA Chain testnet will aspire to construct bridges, each literal and metaphorical, between the Center East and Asia. In doing so, it would set a brand new benchmark for RWA tokenization and encourage cross-border financial collaboration. This may facilitate the change of concepts, assets, and funding alternatives, enhancing the financial panorama of each areas.
John Patrick Mullin, MANTRA’s CEO, mentioned: “This funding not only accelerates our vision of bringing the world’s financial ecosystem onchain, but also solidifies our commitment to the Hong Kong and Middle Eastern markets, where our physical offices in Hong Kong and Dubai stand as beacons of innovation. We’re crafting an infrastructure designed for builders, institutions, enterprises, and users keen on exploring RWAs. It’s a testament to our mission of making asset tokenization a cornerstone of financial inclusivity and market development.”
Shane Shin, Founding Accomplice of lead investor Shorooq Partners, added: “MANTRA stood out to us for its pioneering approach to RWA tokenization and its commitment to regulatory compliance. Their strategic focus on significant markets like Hong Kong and Dubai aligns with our vision for financial innovation and inclusion. We’re investing not just in technology, but in a future where digital and traditional assets converge seamlessly. MANTRA is set to lead this transformation, and we’re thrilled to support their journey.”
Shorooq Partners is a number one tech investor in MENA and Asia. Centered on seed and early-stage startups, Shorooq has deep experience in fintech, software program, gaming, and web3 and has backed market-leading disruptors, together with Tamara, Pure Harvest Sensible Farms, TruKKer and NymCard.
Study extra: https://www.mantrachain.io/
About MANTRA
MANTRA is the primary RWA L1 blockchain able to adherence and enforcement of actual world regulatory necessities. By accelerating the adoption of tokenized RWAs, MANTRA has the potential to unlock the $16 trillion RWA economic system with a regulatory-ready blockchain. Via MANTRA Chain’s compliant framework, TradFi corporations can simply change to and leverage asset tokenization and blockchain options, boosting international RWA development.
MANTRA addresses key trade challenges, together with liquidity fragmentation and cross-chain interoperability, setting the inspiration for a safe, scalable infrastructure. MANTRA will even provide a DEX that gives customers with a diversified product suite constructed round quick access to tokenized actual world property.
About Shorooq Partners
Based in 2017, Shorooq Partners is the main tech investor throughout MENA and Asia. The agency has backed market-leading disruptors, together with Pure Harvest Sensible Farms, Nymcard, Tamara, Sarwa, Lean Applied sciences, TruKKer, Mozn and Lendo.
Shorooq Partners has invested in 60+ corporations alongside international top-tier funds supporting the creation of regional powerhouses. Shorooq Partners is headquartered in Abu Dhabi, UAE and has places of work throughout the UAE, KSA, Egypt, and Korea.
Shorooq Partners refers to a gaggle of corporations which are affiliates of one another and which function underneath this enterprise identify of which Shorooq Partners Ltd (regulated by the ADGM Monetary Companies Regulatory Authority FSRA Registration No 190004) is a member.
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