Recently, Mantra Finance, a decentralized finance and asset tokenization platform has just secured a Virtual Asset Service Provider (VASP) license from Dubai’s Virtual Assets Regulatory Authority (VARA). This major milestone allows Mantra to expand its reach in the UAE and across the MENA region.
With this license, Mantra Finance can now operate as a digital asset exchange and offer broker-dealer, management, and investment services. This approval strengthens its position in the region’s growing digital asset sector.
Dubai’s Crypto-Friendly Approach Attracts Global Firms
Dubai and the UAE are quickly becoming major hubs for cryptocurrency, thanks to clear and structured regulations that attract digital asset firms. Mantra CEO John Patrick Mullin praised Dubai and VARA for building a strong regulatory framework for virtual assets and Web3, setting a high standard for crypto regulation.
He also noted that the UAE and the MENA region have fostered a thriving Web3 ecosystem through well-defined rules. With its new license, Mantra Finance is now ready to offer top-tier financial services to institutional clients and qualified investors across the UAE.
Mantra’s Goal
Mantra Finance uses blockchain technology to provide fast, secure, and non-custodial financial services. Its investment products aim to blend the benefits of DeFi with the safety of traditional finance—offering more transparency, quicker trade settlements, and greater user control over assets.
The license will also help Mantra develop financial products that comply with regulations. Mullin emphasized that the next phase for Mantra will focus on bringing real-world assets (RWAs) onchain, highlighting that last year’s rise in crypto ETF inflows showed how “regulation drives institutional adoption.”
Initially, Mantra will focus on institutional investors involved in large-scale tokenization projects. In the future, retail investors will also gain access to these opportunities. While tokenization lowers barriers, Mantra is committed to ensuring compliance and investor protection as it expands.
Growing Partnerships and Onchain Assets
Mantra is already working with major institutions in the UAE, including Damac, Libre, MAG, Novus Aviation, and Zand, to bring billions in assets onchain.
“By the end of this quarter, and into the next, we’ll be sharing updates on new projects we are working on that will tokenize assets across multiple industries, markets and classes,” Mullin added.
As Mantra Finance continues to expand, it plans to launch innovative DeFi products tailored to the evolving needs of investors.
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