Zand Bank, MANTRA partner to streamline real-world asset tokenisation

Zand Bank and MANTRA, a blockchain platform focused on real-world assets (RWA), recently inked a memorandum of understanding (MOU) to simplify the process of tokenising real-world assets.

The collaboration aims to streamline the identification, listing  and distribution of tokenised RWAs.

The digital bank and MANTRA will also work together to develop frameworks for RWA tokenisation that comply with regulations set by the Dubai Virtual Asset Regulatory Authority (VARA).

These frameworks will provide clear guidelines to ensure adherence to investor protection measures and regulatory requirements.

“This agreement positions Zand and MANTRA at the forefront of digital finance in the Middle East,” said John Patrick Mullin, CEO of MANTRA.

“Our collaboration will make RWA custody and exchange a standard feature of retail banking services in the region, while also establishing industry standards for tokenisation,” he added.

Zand looks at integrating blockchain technology with products

By leveraging MANTRA’s RWA-focused blockchain, the digital bank aims to enhance transparency and redefine how ownership and transactions are managed.

“This partnership allows us to integrate blockchain technology with our existing financial offerings,” said Michael Chan, CEO of Zand.

“We believe this will give our clients more control over their investments, improve security, and provide greater clarity throughout the transaction lifecycle,” he added.

 Read: Abu Dhabi Global Market, Zand Bank join hands to support SMEs

In other news, in March, Mantra completed an $11m funding round led by Shorooq Partners. The round also saw participation from strategic investors including Three Point Capital, Forte Securities, and Virtuzone.

The funds will be used to bolster MANTRA’s efforts in facilitating large-scale RWA tokenisation.