PANews reported on January 9, according to CoinDesk, that the MANTRA blockchain has reached an agreement with UAE-based real estate giant DAMAC Group, planning to tokenize at least $1 billion in assets by early 2025. DAMAC's portfolio covers areas such as real estate development, hotel management, and data centers.
Through tokenization, DAMAC aims to simplify traditional investment processes and enhance accessibility for retail and institutional investors. Specific details about the tokenized assets and products will be announced in the coming weeks.
The MANTRA mainnet will go live in October 2024, aiming to bring traditional financial assets onto the blockchain, and has reached an agreement with other Dubai developer MAG Group to tokenize $500 million in assets. DAMAC started accepting Bitcoin and Ethereum payments as early as 2022.
