Mantra, a blockchain platform for real-world assets (RWAs), has teamed with Damac Group to tokenize $1 billion in assets. This strategic partnership seeks to transform asset management in the Middle East by combining blockchain technology with established financial processes.
Damac Group, known for its diverse portfolio that includes real estate, hospitality, and data centers, intends to use Mantra’s blockchain to digitize and tokenize its holdings. This project will increase transparency, security, and accessibility for investors, making Damac’s assets more appealing to a worldwide market.
According to John Mullin, CEO of Mantra, this collaboration marks a significant milestone in blockchain-based finance. “Tokenization is the future, and this collaboration underscores the confidence in our platform to lead the charge in RWA tokenization,” according to Mullin.
The agreement is consistent with the UAE’s pioneering approach to blockchain technology. Damac’s goal in tokenizing assets is to streamline investing processes and create new opportunities for both retail and institutional investors. In early 2025, Damac plans to make a variety of its holdings available for blockchain-based transactions.
Tokenization is the process of transforming traditional assets, such as real estate and stocks, into digital tokens that reflect ownership on the blockchain. This technique has multiple benefits, including speedier transactions, increased transparency, and the possibility to unleash liquidity for hitherto illiquid assets.
Experts predict that increased interest from governments and institutions will propel the RWA market to trillions of dollars by 2030. Damac’s relationship with Mantra establishes both companies as pioneers in this constantly developing industry.
With this collaboration, Mantra solidifies its position as a pioneer in blockchain-based tokenization, while Damac distinguishes itself as a pathfinder in integrating cutting-edge technology into traditional asset management. This collaborative initiative is a critical step toward changing the future of finance in the Middle East.
