Wednesday, July 24, 2024
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[Funding Alert] MANTRA Secures $11 million in Funding

The Layer 1 blockchain MANTRA ($OM), which is devoted to the tokenization of real-world assets (RWA), has concluded a successful fresh $11 million financing round.

Leading venture and technology investment firm in the MENA area, Shorooq Partners, spearheaded the investment. Numerous strategic investors participated in the round, including Caladan, Token Bay Capital, BlackPine, Mapleblock, Fuse Capital, Hex Trust, Three Point Capital, and Forte Securities.

This fresh round of funding is expected to support it’s objective of enabling the widespread tokenization of RWAs. The money will go toward three main objectives: building a globally regulated infrastructure; giving developers the tools they need to create RWA-centric protocols on the MANTRA Chain; and encouraging the tokenization of real assets with a focus on opening up market opportunities in Asia and the Middle East and North Africa (MENA).

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MANTRA ($OM) has the potential to promote economic growth and increase market liquidity, thereby democratizing investment throughout the Middle East and Asia. It seeks to facilitate global investment, promote entrepreneurship, and open up new investment avenues by streamlining the asset trading process. This will assist financial innovation and boost economic development in various areas.

It seeks to move billions of dollars’ worth of institutional capital onto the blockchain in order to accelerate the adoption of tokenized RWAs. By facilitating the legal creation and trading of RWAs, the MANTRA Chain enables conventional finance (TradFi) businesses to take advantage of blockchain technology. It is well-positioned to capitalize on the growing interest in digital assets and blockchain solutions by offering a reliable and secure blockchain application.

The opening of Hongbai, the MANTRA Chain’s incentive-driven testnet, and the announcement of this $11 million investment round occur simultaneously. Hongbai, which bears the names of Hong Kong and Dubai, emphasizes it’s emphasis on these important financial hubs. The testnet seeks to improve cross-border economic collaboration and set new benchmarks for RWA tokenization, which will benefit the Middle East and Asian economies.

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The CEO of MANTRA, John Patrick Mullin, stressed that the funding not only supports the company’s goal of bringing the world’s financial system onto the blockchain but also reinforces its commitment to the Middle Eastern and Hong Kong markets. MANTRA’s dedication to financial support is demonstrated by its provision of an infrastructure for developers, institutions, businesses, and users engaged in RWA investigation.

About MANTRA

MANTRA is a RWA Layer 1 Blockchain that prioritizes security and can enforce real-world regulatory standards. MANTRA is a permissionless blockchain designed for developers and institutions that supports permissioned applications.

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