MANTRA continues to affirm its pioneering position in the RWA sector on blockchain after recently successfully raising $11 million from prominent investors.
This funding round saw the participation of Shorooq Partners – one of the leading investment funds in the Middle East – North Africa (MENA) region, along with many renowned startup funds such as Three Point Capital, Forte Securities, Virtuzone.
Introduction to MANTRA and upcoming plans
The new capital will be efficiently utilized by MANTRA to further expand its influence in MENA and Asia. The strategic goals are to develop infrastructure compliant with local regulations and international standards, build utility tools for decentralized application (dApp) developers, and broaden the scope of RWA token application in key geographic regions.
With the prospect of building a safe, stable, and user-friendly ecosystem for trading real-world assets, MANTRA is actively deploying the incentivized Hongbai testnet along with plans to officially launch in the financial hubs of Hong Kong and Dubai in the near future.
Launched in 2020, MANTRA is a pioneering vertically-integrated blockchain ecosystem. Initially known as MANTRA DAO, the project has established a reputation for transparency and dynamism in the fields of cryptocurrency trading, fund management, and innovative solutions – all aimed at transforming cryptocurrencies into a personal, safe, and secure exploratory journey. Subsequently, MANTRA has gradually shifted its focus towards real-world asset tokenization (RWA).
Related: Exploring Real-World Assets (RWA) in Cryptocurrency
Growth Potential of RWA
The tokenization of real-world assets is no longer unfamiliar in the modern cryptocurrency market, albeit still underexploited. Essentially, tangible real-world assets such as real estate, securities, and commodities will be encoded and brought onto the blockchain for decentralized and transparent trading.
Just at the beginning of this week, the Canton Network project – a collaborative effort between the blockchain company Digital Asset and 45 major financial institutions, completed a pilot program on RWA trading focused on the interoperability between 22 separate blockchains.
Meanwhile, industry giants such as Brevan Howard and Hamilton Lane have also announced their intentions to tokenize assets on the Libre Web3 platform since the start of this year.
According to forecasts by asset manager 21co, the increasing integration between blockchain architecture and traditional financial platforms could push the RWA market size to a record $10 trillion within this decade.
I can’t wait to be part of this project.