PANews reported on January 9 that according to CoinDesk, MANTRA Blockchain has reached an agreement with the UAE-based real estate giant DAMAC Group to tokenize at least $1 billion in assets in early 2025. DAMAC's asset portfolio covers real estate development, hotel management, data centers and other fields.
Through tokenization, DAMAC aims to simplify the traditional investment process and increase accessibility for retail and institutional investors. Details of the specific tokenized assets and products will be announced in the coming weeks.
MANTRA’s mainnet will be launched in October 2024. It is committed to introducing traditional financial assets to the blockchain and has reached an agreement with other Dubai developer MAG Group to tokenize $500 million in assets. DAMAC began accepting Bitcoin and Ethereum payments as early as 2022.
