MANTRA is set to enhance its real-world asset tokenization capabilities with new funding.
MANTRA, a Layer 1 blockchain dedicated to the tokenization of Real-World Assets (RWA), has successfully closed a new round of financing. The investment round, totaling $11 million, was led by Shorooq Partners, a leading venture and technology investor in the MENA region.
Other strategic investors, including Three Point Capital, Forte Securities, Virtuzone, Hex Trust, GameFi Ventures, and more, also participated in the funding round.
Boost to MANTRA’s Funding
The press release shared with CryptoPotato indicates that the new funding is expected to propel MANTRA’s mission to enable scalable tokenization of RWAs. The funds will be directed towards several key areas.
These areas include the establishment of a regulatory-friendly infrastructure that meets global standards, equipping developers with the tools necessary to create RWA-focused protocols on the MANTRA Chain, and promoting the expansion of real-world asset tokenization, particularly in the MENA and Asia regions.
The Layer 1 blockchain’s team also intends to enhance investment opportunities in the Middle East and Asia by focusing on market liquidity and fostering growth. This strategy aims to boost economic activity and development in these areas, historically limited in financial market access.
Facilitating smoother asset transactions will create new avenues for investment, encourage entrepreneurship, and draw in international investors. MANTRA believes this approach supports the goal of these regions to become leaders in financial innovation, contributing to economic expansion.
MANTRA’s CEO, John Patrick Mullin, commented on the funding,
“The investment accelerates our goal to integrate the global financial ecosystem on-chain and reaffirms our dedication to the Hong Kong and Middle Eastern markets. Our offices in Hong Kong and Dubai symbolize innovation hubs. We’re building an infrastructure for creators, institutions, businesses, and users interested in RWA opportunities.”
Growth in RWA TokenizationDespite initial doubts about the viability of the tokenized real-world asset (RWA) market, it has seen substantial growth recently.
Research by the Boston Consulting Group predicts the market for tokenized assets could reach $16 trillion by 2030. This growth implies the tokenization of assets might represent around 10% of global GDP by that time.
Blockchain company Ripple earlier this year partnered with the Axelar Foundation to enhance the interoperability of the XRP Ledger (XRPL) blockchain, focusing especially on advancing the tokenization of RWAs.