DAMAC Group assets will be available in early 2025, exclusively on the MANTRA Chain
MANTRA, a purpose-built layer 1 blockchain for tokenized real-world assets (RWAs) has signed a US$ 1bn agreement with DAMAC Group, a prominent investment conglomerate, renowned for its diversified portfolio that spans across key sectors such as real estate development, hospitality, data centers, and more, to tokenize assets in the Middle East.
The collaboration between MANTRA and the DAMAC Group will enable token-based financing for a diverse range of assets within the group’s extensive portfolio of companies, with a minimum value of US$ 1 billion.
The DAMAC Group assets will be available in early 2025, exclusively on the MANTRA Chain, marking a bold step in leveraging blockchain technology to bring greater transparency, security, and accessibility to DAMAC Group’s wide-ranging assets.
Recently DAMAC Group’s chairman promised a US$ 20bn investment in the booming US data center industry in the coming years, the US President-elect Donald Trump announced in Palm Beach, Florida.
Financing opportunities
“This partnership with DAMAC Group is an endorsement for the RWA industry. We’re thrilled to partner with such a prestigious group of leaders that share our ambitions and see the incredible opportunities of bringing traditional financing opportunities on-chain,” stated John Patrick Mullin, CEO, MANTRA.
“Tokenizing our assets will provide investors with a secure, transparent, and convenient way to access a wide range of investment opportunities,” commented Amira Sajwani, Managing Director, Sales & Development at DAMAC.
“Together, we are creating a blueprint for innovation that will inspire industries and markets far beyond the region,” concluded Shane Shin, Founding Partner, Shorooq.
