DAMAC Group and MANTRA Tokenize $1 Billion Worth of Assets in the Middle East

Dubai-based developer DAMAC Group has announced a partnership with blockchain platform MANTRA to tokenize assets worth at least $1 billion in the Middle East.

This strategic collaboration will span multiple sectors, including real estate, hospitality, and data centers. The partnership aims to revolutionize these industries by leveraging blockchain technology to enhance transparency, security, and accessibility for investors.

Asset tokenization involves converting ownership rights of tangible assets into digital tokens, which are then recorded and traded on a blockchain.

This provides a more accessible and secure method for investors to engage with high-value assets, unlocking a new wave of investment opportunities.

Amira Sajwani, DAMAC’s Managing Director of Sales & Development, expressed excitement about the partnership, stating, “DAMAC is always exploring new technologies to enhance our product offerings. Partnering with MANTRA is a natural extension of our commitment to innovation and forward-thinking solutions.”

John Patrick Mullin, CEO of MANTRA, also shared his enthusiasm, noting that the collaboration marks a significant endorsement for the real-world asset (RWA) industry and its potential for growth in the blockchain space.

Dubai has been positioning itself as a global hub for digital assets, including cryptocurrencies.

The UAE government is actively developing regulations to attract major industry players, which aligns with its ambition to foster innovation in the digital and crypto asset sectors.

This landmark partnership is expected to reshape the investment landscape in the Middle East by offering a secure and transparent platform for tokenized asset investment, paving the way for future innovations in digital finance.