Mantra Finance secures VARA license to expand crypto services in MENA
Decentralized finance and asset tokenization platform Mantra Finance has announced receiving a Virtual Asset Service Provider (VASP) license from the Dubai Virtual Assets Regulatory Authority (VARA).
With this license, Mantra Finance can now operate as a digital asset exchange and offer brokerage, management, and investment services. VARA’s approval strengthens Mantra’s position in a region that has become a global hub for crypto and Web3, setting high regulatory standards for the industry.
"By establishing the most timely, comprehensive, and built-from-scratch framework for virtual assets and Web3, Dubai and VARA have become global leaders in crypto regulation. This license is a major milestone for Mantra and a key step in our global expansion journey," said John Patrick Mullin, CEO of Mantra Finance.
He highlighted that Mantra’s next focus in the region will be bringing real-world assets (RWA) on-chain, noting that last year’s surge in crypto ETF inflows demonstrated how regulation drives institutional adoption.
Institutional focus
Initially, Mantra will target institutional investors engaged in large-scale tokenization projects. The company already collaborates with major UAE institutions, including Damac, Libre, MAG, Novus Aviation, and Zand, helping them bring billions of dollars in assets onto the blockchain. In the future, retail investors will also gain access to these opportunities.
"By the end of this quarter and into the next, we will announce new projects aimed at tokenizing assets across different industries, markets, and asset classes," Mullin added.
Mantra Finance is the developer of a modular Layer 1 blockchain focused on RWA tokenization while ensuring compliance with regulatory frameworks.
Mantra price dynamics for 24 hours. Source: CoinMarketCap
Following the VARA license approval, Mantra’s native token (OM) surged 2.5% to $7.60, with trading volume soaring 75% to $395 million in 24 hours.
As we wrote, amid a widespread crypto market downturn and a 20-25% crash in many altcoins, blockchain network Mantra, focused on real-world asset (RWA) tokenization, posted a 12% daily gain.
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