Dubai, United Arab Emirates, March 19, 2024, Chainwire
MANTRA ($OM), a Layer 1 blockchain for Actual World Property (RWA), has introduced the completion of a brand new funding spherical. MENA’s prime enterprise and expertise investor, Shorooq Companions, led an $11 million funding spherical. Moreover, a various array of strategic traders joined the funding, together with Three Level Capital, Forte Securities, Virtuzone, Hex Belief, GameFi Ventures, Caladan, Token Bay Capital, BlackPine, Mapleblock, Fuse Capital, 280 Capital and others.
The contemporary capital injection will additional MANTRA’s purpose of enabling RWA tokenization that may function at scale. The funds will likely be used to realize three vital objectives: constructing a regulatory-compliant infrastructure that adheres to international requirements, empowering builders with the instruments wanted to construct RWA-centric protocols on the MANTRA Chain, and increasing real-world asset tokenization whereas making market alternatives seen. between the Center East and North Africa (MENA) in addition to Asia.
MANTRA ($OM) goals to make investing within the Center East and Asia extra accessible by rising market liquidity and supporting progress. This can enhance financial exercise and growth in these areas that beforehand confronted limitations to entry to monetary markets. Simplifying the method of shopping for and promoting property will create new funding avenues, enhance enterprise and appeal to international traders. That is consistent with the objectives of each areas to guide in monetary innovation, drive financial progress and prosperity within the area.
MANTRA ($OM) goals to speed up the adoption of tokenized RWAs by enabling billions of {dollars} in institutional capital to maneuver on-chain. MANTRA Chain offers a compliant framework for creating and buying and selling RWA and permits TradFi corporations to make the most of the various advantages that blockchain expertise presents. By providing a tangible, safe and secure software of blockchain expertise, MANTRA is nicely positioned to profit from the rising curiosity in digital property and blockchain options.
The $11 million funding spherical coincides with the discharge of Hongbai, the MANTRA Chain incentivized testnet. Its identify is a portmanteau of Hong Kong and Dubai, Hongbai indicators MANTRA’s intention to focus its onboarding efforts on these two monetary hotspots. The launch of the MANTRA Chain check community will aspire to construct bridges, each literal and metaphorical, between the Center East and Asia. This can set a brand new benchmark for RWA tokenization and promote cross-border financial cooperation. This can facilitate the change of concepts, sources and funding alternatives and enhance the financial scenario of each areas.
John Patrick MullinCEO of MANTRA, mentioned: “This funding not solely accelerates our imaginative and prescient of bringing the world’s monetary ecosystem on chain, but additionally solidifies our dedication to Hong Kong and the Center East markets, the place our bodily workplaces in Hong Kong and Dubai are beacons of innovation. We create an infrastructure designed for builders, establishments, companies and customers who wish to discover RWA. It’s a testomony to our mission to make asset tokenization a cornerstone of monetary inclusion and market growth.”
Shane Shinfounding associate of lead investor Shorooq Companions, added: “MANTRA stood out to us for its pioneering method to RWA tokenization and its dedication to compliance. Their strategic deal with main markets equivalent to Hong Kong and Dubai aligns with our imaginative and prescient for monetary innovation and inclusion. We make investments not solely in expertise, however in a future the place digital and conventional property converge seamlessly. MANTRA is poised to guide this transformation and we’re excited to help their journey.”
Shorooq Companions is a number one expertise investor in MENA and Asia. Centered on seed and early stage startups, Shorooq has deep experience in fintech, software program, video games and the web3 and helps main market disruptors together with Tamara, Pure Harvest Sensible Farms, TruKKer and NymCard.
Extra data: https://www.mantrachain.io/
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ABOUT MANTRAS
MANTRA is the primary RWA L1 blockchain able to complying with and imposing actual regulatory necessities. By accelerating the adoption of tokenized RWAs, MANTRA has the potential to unlock the $16 trillion RWA economic system with a regulation-ready blockchain. By a MANTRA Chain compliant framework, TradFi corporations can simply transition to and leverage asset tokenization and blockchain options, fueling RWA’s international progress.
MANTRA addresses key trade challenges, together with liquidity fragmentation and cross-chain interoperability, creating the inspiration for a safe and scalable infrastructure. MANTRA can even provide a DEX that gives customers with a diversified set of merchandise constructed round easy accessibility to real-world tokenized property.
About Shorooq Companions
Based in 2017, Shorooq Companions is a number one expertise investor within the MENA and Asia area. The agency has backed market-leading disruptors together with Pure Harvest Sensible Farms, Nymcard, Tamara, Sarwa, Lean Applied sciences, TruKKer, Mozn and Lendo.
Shorooq Companions has invested in over 60 corporations alongside prime international funds supporting the creation of regional powerhouses. Shorooq Companions is headquartered in Abu Dhabi, UAE and has workplaces all through the UAE, KSA, Egypt and Korea.
Shorooq Companions refers to a bunch of corporations which are related to one another and that commerce underneath this buying and selling identify, of which Shorooq Companions Ltd (regulated by ADGM Monetary Providers Regulatory Authority FSRA Registration No 190004) is a member.
ContactHead of Advertising and marketingChristopher Lidmanpress@mantrachain.io
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