This fresh influx of capital will bolster MANTRA's efforts in facilitating RWA tokenisation at a scalable level. The funds will be directed towards three pivotal objectives: constructing regulatory-compliant infrastructure adhering to global standards, equipping developers with essential tools to devise RWA-focused protocols on MANTRA Chain, and broadening the tokenisation of real-world assets while emphasising market opportunities across the Middle East and North Africa (MENA) and Asia.
MANTRA ($OM) is committed to enhancing accessibility to investment opportunities in the Middle East and Asia, thereby enhancing market liquidity and fostering growth. This initiative aims to stimulate economic activity and development in regions that have historically encountered barriers to accessing financial markets. By simplifying the asset trading process, new investment avenues will be created, fostering entrepreneurship and attracting global investors. Such endeavours resonate with the overarching objectives of both regions to spearhead financial innovation, thereby propelling economic growth and prosperity.
With a mission to expedite the adoption of tokenised RWAs, MANTRA ($OM) aims to facilitate the movement of billions of dollars in institutional capital onto the blockchain. MANTRA Chain offers a compliant framework for creating and trading RWAs, empowering traditional finance (TradFi) entities to leverage the myriad benefits of blockchain technology. By furnishing a tangible, secure, and stable application of blockchain technology, MANTRA is poised to capitalise on the burgeoning interest in digital assets and blockchain solutions.
The $11M funding round coincides with the debut of Hongbai, MANTRA Chain’s incentivised testnet. Named after Hong Kong and Dubai, Hongbai signifies MANTRA’s strategic focus on these two financial hubs. The launch of the MANTRA Chain testnet endeavours to forge literal and metaphorical bridges between the Middle East and Asia. This initiative aims to establish a new standard for RWA tokenisation while fostering cross-border economic collaboration, facilitating the exchange of ideas, resources, and investment opportunities, thereby enriching the economic landscape of both regions.
John Patrick Mullin, CEO of MANTRA, remarked, “This funding not only accelerates our vision of migrating the global financial ecosystem onto the blockchain but also reaffirms our commitment to the Hong Kong and Middle Eastern markets, where our physical offices in Hong Kong and Dubai serve as hubs of innovation. We are developing an infrastructure tailored for builders, institutions, enterprises, and users eager to explore RWAs. This underscores our mission of establishing asset tokenisation as a cornerstone of financial inclusivity and market development.”
Shane Shin, Founding Partner of lead investor Shorooq Partners, added, “MANTRA stood out to us for its pioneering approach to RWA tokenisation and its unwavering commitment to regulatory compliance. Their strategic emphasis on significant markets like Hong Kong and Dubai aligns with our vision for financial innovation and inclusion. Our investment extends beyond technology; it is an endorsement of a future where digital and traditional assets seamlessly converge. MANTRA is poised to spearhead this transformation, and we are excited to support their journey.”
Shorooq Partners, a prominent tech investor in MENA and Asia, specialises in seed and early-stage startups, with a particular focus on fintech, software, gaming, and web3. The firm has a track record of backing market-leading disruptors, including Tamara, Pure Harvest Smart Farms, TruKKer, and NymCard.
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