Hong Kong – Mantra of the Decentralized Finance Platform (DEFI) said he secured a virtual asset services provider (VASP) provider of the Dubai Virtual Assets Regulatory Authority (Vara).
The license allows the platform to work as an exchange of virtual assets and offers investment administration services and stockbrokers in the region. It positions Mantra, which focuses on the Middle East region, for global expansion while reinforcing its approach to tokenize real world assets (RWAS), said the firm.
The firm’s executive director, John Patrick Mullin, described Dubai as a leader in cryptographic regulation, noting that approval is a “crucial step” in the platform strategy to close decentralized and traditional finances. With the license, Mantra can offer financial products that comply with the regulation adapted to institutional investors, benefiting from Dubai’s progressive position on web3 and digital assets.
The company plans to implement products designed to meet regional and international regulatory standards. “Regulatory compliance is essential for the trust we build with users,” said Mullin. “This license reflects our long -term vision of promoting responsible growth in the digital asset space.”
Last month, the platform entered an agreement with the Conglomerate of Properties based in the Emirates of the Arabs, Damac Group, based in the Emirates of the Arabs, to bring at least $ 1 billion assets of the company to Blockchain Rails.
In 2024, he added Google as primary validator and infrastructure for his blockchain and collaborated with the technological giant in a program of accelerators for RWAS to promote greater development and innovation.
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