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MANTRA Secures First VASP License in Dubai, Expanding Global DeFi Reach

Coin WorldWednesday, Feb 19, 2025 3:14 pm ET

1min read

MANTRA Finance FZE (MANTRA), a leading decentralized finance (DeFi) platform operated by MANTRA Group, has secured its first Virtual Asset Service Provider (VASP) license from Dubai’s Virtual Assets Regulatory Authority (VARA). This significant milestone allows MANTRA to operate as a Virtual Asset Exchange, as well as provide Broker-Dealer and Management and Investment Services.

Obtaining the VARA license is a testament to MANTRA's commitment to regulatory compliance, security, and innovation within the rapidly growing virtual assets ecosystem. This license supports MANTRA's global expansion, enabling the platform to introduce a range of innovative, regulatory-compliant financial products tailored to the evolving needs of investors worldwide. Additionally, it positions MANTRA to further scale operations in the Middle East, focusing on the tokenization of real-world assets (RWAs).

John Patrick Mullin, CEO of MANTRA, expressed his enthusiasm about the license, stating, "By establishing the most timely, comprehensive, and built-from-the-ground-up framework for virtual assets and Web3, Dubai and VARA have become world leaders in crypto regulation. This license was a crucial step for MANTRA and a key step in our journey towards global expansion."

MANTRA leverages its cutting-edge blockchain technology to deliver fast, secure, and non-custodial financial services. The platform's offerings will include innovative investment products that merge the advantages of decentralized finance with the protections of traditional finance, such as increased transparency, rapid trade settlement, and enhanced user control over assets. With the VARA license, MANTRA is uniquely positioned to scale these solutions and offer them to both institutional clients and qualified investors in the UAE.

Mullin added, "By obtaining this license, MANTRA joins a growing community of regulated entities operating within the UAE, and we are excited to work alongside industry leaders to shape the future of virtual assets. Our regulatory compliance is fundamental to the trust we build with users, and it reflects our long-term vision of driving responsible growth in the digital asset space."

As the platform continues to innovate, MANTRA will launch a variety of unique DeFi products designed to meet the dynamic needs of investors. Each product is developed with strict adherence to local regulations and international policy frameworks, ensuring that users benefit from both security and cutting-edge financial tools.

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