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MANTRA Finance FZE (MANTRA), a leading decentralized ļ¬nance (DeFi) platform operated by MANTRA Group, today announces it has successfully obtained a Virtual Asset Service Provider (VASP) license from Dubaiās Virtual Assets Regulatory Authority (VARA), to operate as a Virtual Asset Exchange, as well as provide Broker-Dealer and Management and Investment Services.
This marks a signiļ¬cant milestone in MANTRAās commitment to regulatory compliance, security, and innovation within the rapidly growing virtual assets ecosystem.
The VARA license will support not just MANTRAās global footprint as it introduces a range of innovative, regulatory-compliant ļ¬nancial products tailored to the evolving needs of investors around the world, but position it to further scale operations in the Middle East focused on the tokenization of real world assets (RWAs).
It underscores MANTRAās commitment to providing transparent, secure, and cutting-edge solutions while meeting the highest standards of regulatory oversight.
āBy establishing the most timely, comprehensive and built from-the-ground-up framework for virtual assets and Web3, Dubai and VARA have become world leaders in crypto regulation. This license was a crucial step for MANTRA and a key step in our journey towards global expansion,ā said John Patrick Mullin, CEO of MANTRA.
The UAE and broader MENA region has fast become a progressive global hub and thriving ecosystem for Web3 and virtual assets owing to their regulatory initiatives and frameworks. This license not only strengthens our presence regionally, it positions us internationally to deliver unique DeFi products that bridge the gap between decentralized ļ¬nance and traditional ļ¬nance. Our goal is to build a future-focused ļ¬nancial ecosystem that beneļ¬ts institutional and qualiļ¬ed investors globally.
MANTRA leverages its cutting-edge blockchain technology to deliver fast, secure, and non-custodial ļ¬nancial services.
The platformās oļ¬erings will include innovative investment products that merge the advantages of decentralized ļ¬nance with the protections of traditional ļ¬nance, such as increased transparency, rapid trade settlement, and enhanced user control over assets.
With the VARA license, MANTRA is uniquely positioned to scale these solutions and oļ¬er them to both institutional clients and qualiļ¬ed investors in the UAE.
āBy obtaining this license, MANTRA joins a growing community of regulated entities operating within the UAE, and we are excited to work alongside industry leaders to shape the future of virtual assets,ā added Mullin.
Our regulatory compliance is fundamental to the trust we build with users, and it reļ¬ects our long-term vision of driving responsible growth in the digital asset space.
As the platform continues to innovate, MANTRA will launch a variety of unique DeFi products designed to meet the dynamic needs of investors.
Each product is developed with strict adherence to local regulations and international policy frameworks, ensuring that users beneļ¬t from both security and cutting-edge ļ¬nancial tools.
For more information, visit mantrachain.io.
About MANTRA:
MANTRA chain is a purpose-built Layer 1 blockchain for real-world assets, capable of adherence to real-world regulatory requirements.
As a permissionless chain, MANTRA Chain empowers developers and institutions to seamlessly participate in the evolving RWA tokenization space by oļ¬ering advanced technology modules, compliance mechanisms, and cross-chain interoperability.
The post MANTRA secures first VARA DeFi license, paving the way for global growth and innovation in financial products appeared first on Invezz
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