Mantra Finance Secures VASP License in Dubai, Expanding Web3 Services in MENA

Mantra Finance, a decentralized finance and asset tokenization platform, has secured a significant milestone in its expansion by obtaining a Virtual Asset Service Provider (VASP) license from Dubai's Virtual Assets Regulatory Authority (VARA). This license enables Mantra to operate as a digital asset exchange and offer a range of services, including broker-dealer, management, and investment services, within the UAE and across the MENA region.

Dubai and the UAE have emerged as global leaders in the cryptocurrency space, thanks to their well-structured regulatory frameworks that attract digital asset companies. Mantra CEO John Patrick Mullin praised Dubai and VARA for their forward-thinking approach, highlighting that they have set the standard in crypto regulation by creating a comprehensive, ground-up framework for virtual assets and Web3.

Securing the VARA license is a crucial milestone for Mantra, marking a key step in its journey toward global expansion. The UAE and the MENA region have fostered a thriving Web3 ecosystem through clear regulations, allowing Mantra to offer decentralized finance products that seamlessly connect DeFi with traditional finance. With its new VARA license, the platform is set to expand its offerings, providing top-tier financial services to institutional clients and qualified investors across the UAE.

The license will help Mantra speed up the creation of regulatory-compliant financial products, improving its ecosystem. Mullin emphasized that the next phase, focused on the "real rollout of RWAs," will be driven by regulation. He pointed to the surge in Crypto ETF inflows last year, stressing that "Regulation drives institutional adoption."

Mantra will initially focus on institutional investors involved in large-scale tokenization projects. Retail investors will be able to access these opportunities in the future. While tokenization lowers barriers, Mantra will prioritize compliance and investor protection as it expands accessibility. The platform is already collaborating with major institutions in the UAE, including Damac, Libre, MAG, Novus Aviation, and Zand, to bring billions in assets onchain. "By the end of this quarter, and into the next, we’ll be sharing updates on new projects we are working on that will tokenize assets across multiple industries, markets, and classes," Mullin added.