Institutional RWA Platform MANTRA Announces $11M Raise

Table of Contents

• Rising Demand for RWA Tokenization

Enterprise platform MANTRA has just announced a successful raise of $11 million to scale its Layer 1 blockchain focused on real-world asset tokenization. Led by one of the leading investors in the MENA region, Shorooq Partners, the raise attracted participation from other prominent VCs, including Three Point Capital, Forte Securities, and Virtuzone, among others.

MANTRA has been developed to accelerate institutional adoption of real-world asset(RWA) tokenization. The platform offers a compliant framework for tokenized asset creation and trading in a secure, stable, and user-friendly environment. The funding round comes as the project has released its incentivized testnet, named Hongbai, signaling the fact it will begin onboarding clients in the financial hubs of Hong Kong and Dubai. These strategic locations have been chosen to promote cross-border collaboration and showcase the capabilities of the MANTRA chain to build a digital economic bridge across geographical divides. 

The proceeds from the raise will now be used to further MANTRA's expansion across the MENA and Asia regions. Specifically, the funds will be directed towards three goals: developing infrastructure that adheres to local regulations and global standards, building tools to equip dApp developers, and expanding RWA tokenization by leveraging market opportunities across the targeted geographies. 

MANTRA's focus on MENA and Asia is intended to boost market liquidity and growth, making investing more accessible in regions where financial markets have been beyond the reach of many. By prioritizing these areas, MANTRA aims to open up new opportunities, promote entrepreneurship, and attract foreign investment. This focus has paid off in terms of positioning for further funding. 

Shane Shin, Founding Partner of lead investor Shorooq Partners, explains in the announcement's press release: "MANTRA stood out to us for its pioneering approach to RWA tokenization and its commitment to regulatory compliance. Their strategic focus on significant markets like Hong Kong and Dubai aligns with our vision for financial innovation and inclusion. We're investing not just in technology but in a future where digital and traditional assets converge seamlessly."

Rising Demand for RWA Tokenization

MANTRA's news comes as institutional interest in RWA tokenization is at an all-time high. Earlier this week, the Canton Network, a collaborative effort between enterprise blockchain firm Digital Asset and 45 major financial firms, announced the completion of a pilot program focused on RWAs that demonstrated interoperability between twenty-two separate distributed ledger applications. 

This came after asset management giants Brevan Howard and Hamilton Lane announced their own plans to tokenize assets on the Libre Web3 infrastructure back in January. 

Digital asset manager 21co predicted late last year that the increasing integration of blockchain architecture into the existing financial enterprise landscape could see real-world assets on-chain scale to as much as $10 trillion this decade. 

Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice