Dubai, UAE, June fifth, 2024, Chainwire
Zand Bank PJSC, the digital financial institution licensed by the Central Bank of the UAE, and MANTRA, an RWA-focused Layer 1 blockchain, have signed a Memorandum of Understanding (MOU) to streamline the method of real-world asset tokenization, together with the identification, itemizing and distribution of RWAs.
The collaboration between these two entities may even give attention to creating frameworks to assist tokenization and distribution of RWA, in compliance with the Digital Asset Regulatory Authority of Dubai (VARA). The frameworks purpose to offer clear pointers for the tokenization of RWAs, guaranteeing the method adheres to related compliance requirements, investor safety measures, and regulatory necessities. In doing so, the collaboration seeks to foster belief, confidence, and widespread adoption of RWA tokenization throughout the UAE.
“The agreement between Zand and MANTRA is a testament to both companies’ position at the vanguard of digital finance in the Middle East. The vision behind the collaboration aims to catapult both the custody and exchange of real world assets as a permanent fixture in the suite of retail banking services in the region, as well as to establish industry standards for tokenization,” acknowledged John Patrick Mullin, CEO of MANTRA.
“We are excited to leverage MANTRA’s blockchain, which is purpose-built for RWA to redefine the way we transact and manage ownership as well as transparency. This collaboration represents a step forward in our journey to amalgamate blockchain technology with our robust financial offerings to give our clients greater control over their investments, enhanced security, and more clarity into the lifecycle of their transactions. We aim to simplify operations, reinforce trust and authenticity in the assets’ legality, and broaden access to the wider market.” stated Michael Chan, CEO of Zand.
About Zand Bank
Digital is our DNA. Zand goals to revolutionize the finance world with innovation, AI, Blockchain know-how and Consumer-centric options that bridge TradFi and DeFi, empowering our UAE and world Company, Establishment and Wealth purchasers to thrive within the evolving digital financial system. For extra info, go to www.zand.ae
About MANTRA
MANTRA is a security-first RWA Layer 1 Blockchain able to adherence and enforcement of actual world regulatory necessities. As a permissionless chain, MANTRA empowers builders and establishments to seamlessly take part within the evolving RWA tokenization area by providing superior tech modules, compliance mechanisms, and cross-chain interoperability.
Website | X | LinkedIn | Telegram | Medium | Instagram
Advertising Lead
Christoph Lidman
[email protected]
