A $1 Billion Altcoin Move from the United Arab Emirates - Coin Bulletin

MANTRA, focusing on digitizing traditional investments with blockchain technology, announced a new partnership with the real estate giant DAMAC Group based in the United Arab Emirates. Mantra's token OM rose by 5% following this news!

Under the agreement, DAMAC's minimum $1 billion worth of assets will be tokenized on the blockchain. This initiative aims to accelerate the investment processes of companies in DAMAC's portfolio, which includes various sectors such as real estate, hospitality, and data centers, and to provide access to a wider investor base.

Tokenization is defined as the process of converting traditional assets into digital tokens and representing them on the blockchain. Tokenizing assets such as real estate, commodities, funds, and securities makes investment processes more transparent, secure, and fast, while facilitating access for individual and institutional investors.

DAMAC CEO Amira Sajwani said, 'Tokenizing our assets will provide investors with secure and transparent access to a wide range of investment opportunities.'

MANTRA drew attention earlier this year by deciding to tokenize MAG Group's $500 million assets based in Dubai. With the launch of the mainnet in October, the market value of the local token OM has increased by 200 percent in the last three months, reaching $3.6 billion. MANTRA, focusing on the Middle East region, aims to move traditional financial assets to the blockchain.