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MANTRA completes $11 million round led by Shorooq Partners

MANTRA ($OM), the Layer 1 blockchain dedicated to Tokenization of Real-World Assets (RWA), has successfully closed a new $11 million funding round. The investment was led by Shorooq Partners, a premier venture and technology investment firm in the MENA region. Joining the round were a varied group of strategic investors including Three Point Capital, Forte Securities, Virtuzone, Hex Trust, GameFi Ventures, Caladan, Token Bay Capital, BlackPine, Mapleblock, Fuse Capital, among others.

This new infusion of capital is set to bolster MANTRA’s mission to facilitate the tokenization of RWAs on a large scale. The funds will be allocated towards three key goals: developing an infrastructure compliant with global regulatory standards, providing developers with essential tools for creating RWA-centric protocols on the MANTRA Chain, and promoting the tokenization of real-world assets with an emphasis on unlocking market opportunities in the Middle East and North Africa (MENA) and Asia.

MANTRA ($OM) is poised to democratize investment in the Middle East and Asia by enhancing market liquidity and fostering economic growth. By simplifying the process of trading assets, MANTRA aims to open up new investment paths, encourage entrepreneurship, and draw global investment, supporting financial innovation and contributing to economic prosperity in these regions.

With a vision to expedite the adoption of tokenized RWAs, MANTRA aims to bring billions in institutional capital onto the blockchain. The MANTRA Chain is designed to support the compliant creation and exchange of RWAs, enabling traditional finance (TradFi) companies to leverage the advantages of blockchain technology. By providing a secure and stable blockchain application, MANTRA is strategically positioned to benefit from the increasing interest in digital assets and blockchain solutions.

The announcement of this $11 million funding round coincides with the launch of Hongbai, the incentivized testnet for MANTRA Chain. Named after Hong Kong and Dubai, Hongbai underscores MANTRA’s focus on these key financial centers. The testnet aims to establish new standards for RWA tokenization and foster economic cooperation across borders, thereby enhancing the economic landscape of both the Middle East and Asia.

John Patrick Mullin, CEO of MANTRA, emphasized that this funding not only propels the company’s vision of integrating the global financial ecosystem onto the blockchain but also reaffirms its dedication to markets in Hong Kong and the Middle East. MANTRA is committed to providing an infrastructure that supports developers, institutions, enterprises, and users interested in RWA exploration, underlining its commitment to financial inclusivity and market development.

Shane Shin, the founding partner of Shorooq Partners, praised MANTRA for its innovative approach to RWA tokenization and adherence to regulatory standards. He highlighted MANTRA’s strategic focus on critical markets like Hong Kong and Dubai as aligned with Shorooq’s goals for financial innovation and inclusion. Shorooq Partners, a significant tech investor in MENA and Asia with a portfolio that includes companies like Tamara, Pure Harvest Smart Farms, TruKKer, and NymCard, sees its investment in MANTRA as a commitment to a future where digital and traditional assets integrate seamlessly.

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