Mantra Network has successfully obtained a Virtual Asset Service Provider (VASP) license from Dubai’s Virtual Asset Regulatory Authority (VARA), which will allow it to expand its blockchain-based services in the region and strengthen its role in tokenizing real-world assets efficiently and securely.
Dubai, which has become known as a global hub for technological innovation, has awarded Mantra, a leading protocol in the decentralized finance (DeFi) sector, the first Virtual Asset Service Provider (VASP) license issued by the Virtual Asset Regulatory Authority (VARA).
The granting of this license is nothing more than an achievement for the network, which since its creation has been committed to the consolidation of a financial ecosystem based on blockchain, capable of combining the advantages of traditional finance with the innovations of decentralized technologies.
Mantra's expansion in Dubai
Mantra’s VASP license not only allows it to operate as a Virtual Asset Exchange, but also enables it to offer digital asset brokerage, management and investment services in the region. John Patrick Mullin, CEO of Mantra, stressed that obtaining this license is a recognition of the network’s transformative potential in the digitalization of real-world assets and a recognition of its efforts towards the global expansion of blockchain technology. Mullin also commented that the awarding of the VASP license underlines Dubai’s global leadership in cryptocurrency regulation.
“By establishing the most timely, comprehensive and built-from-the-ground-up framework for virtual assets and Web3, Dubai and VARA have become global leaders in cryptocurrency regulation. This license was a crucial step for MANTRA and a key step in our journey towards global expansion.”, said Mullin.
This permit, granted within a progressive regulatory ecosystem, also reflects the UAE’s commitment to fostering emerging technologies and integrating them into the global economy. For Mantra, this recognition is a validation of its business model and opens the door to new opportunities in the Middle East region and beyond.
PREPARE YOUR WALLETTokenizing real assets with efficiency and security
Mantra, which is known for its focus on tokenizing real-world assets (RWA), will now be able to offer broader and more secure services to its clients. Tokenization, a process that converts physical or intangible assets into digital tokens on a blockchain, offers an innovative solution to manage property, artwork, debt, among other assets, in a transparent and efficient manner.
With this license, Mantra can therefore scale its operations in the region, especially in the tokenization of real estate assets, infrastructure and other tangible assets.
The network is expected to leverage its cutting-edge technological infrastructure to ensure fast, secure, and non-custodial transactions, reducing the risks associated with traditional operations. Furthermore, its ability to fractionalize assets – that is, divide their ownership into smaller, more accessible parts – will open up new opportunities for institutional and retail investors looking to participate in previously inaccessible markets.
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Dubai, a visionary regulator in the cryptocurrency space
Dubai and the UAE have established a unique regulatory framework that combines flexibility with security, becoming a magnet for emerging technology companies. The Virtual Asset Regulatory Authority (VARA), established in 2023, has taken a proactive approach to regulating the cryptocurrency and virtual asset space, providing clear rules that enable innovation while protecting investors.
In this context, the license granted to Mantra reflects Dubai’s commitment to becoming a global hub for decentralized finance and asset tokenization. Mullin has publicly highlighted how Dubai’s policies have created an enabling environment for the adoption of technologies such as blockchain, attracting startups and established companies alike.
This regulatory push towards cryptocurrencies is also helping to strengthen the local economy. By offering a transparent and secure legal framework, Dubai is positioning itself as an attractive alternative to other global financial centres, attracting investment and talent from around the world.
BUY MANTRA (OM)The global impact of real asset tokenization
Real-estate asset (RWA) tokenization represents a significant shift in the way traditional assets are managed and accessed. By converting physical assets into digital tokens, Mantra enables greater liquidity, accessibility, and efficiency in previously limited markets. For example, a high-value property can be tokenized and sold in smaller parts, allowing multiple investors to participate in its ownership in a direct and transparent manner.
However, the innovation it offers does not only extend to financial markets, but also opens up possibilities in sectors such as art, logistics and renewable energy. Now, with the backing of the VASP license, Mantra will be able to expand its services globally, attracting institutional and qualified investors looking for new ways to diversify their portfolios.
In short, obtaining this license in Dubai puts Mantra in an optimal position to expand its blockchain-based services, highlighting its role as a benchmark in the tokenization of real assets.
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