The rapid development of Dubai into an international financial center now includes blockchain technology through an established regulatory structure. Mantra functions as a Layer-1 blockchain platform that received a Virtual Asset Service Provider (VASP) license to operate in RWA tokenization services. The UAE strengthens its dedication to a formal blockchain regulatory environment through this new accomplishment.
The blockchain market in Dubai has become increasingly active because it attracts companies from the crypto sector along with decentralized exchanges and financial technology organizations. The Virtual Assets Regulatory Authority (VARA) drives regulatory change by controlling virtual assets with international compliance requirements. All operations related to exchanges, along with brokerages custody and lending and the issue of virtual assets, fall under the oversight of VARA. Furthermore, the licensing system guarantees security for finances and operational excellence for all parties.
The significance of Mantra’s VASP license
The regulatory license makes Mantra the first DeFi platform allowed to conduct business within Dubai’s controlled market. The company is authorized through this license to operate exchange services and broker-dealer operations and investment management. Mantra operates with worldwide market privileges beyond approval standards through the license. Moreover, it allows for global business expansion and industry recognition.
Dubai’s vision creates opportunities for the company to launch blockchain-friendly tokenized financial products that bridge conventional finance with decentralized finance (DeFi).
VARA’s Role in blockchain regulation
VARA stands as the world’s first independent virtual assets regulator. The organization enforces compliance through licensing procedures as well as financial regulations and anti-money laundering (AML) requirements. The measures develop market trust and transparency, which enhances market integrity and supports innovation.
Mantra must pass through multiple comprehensive audits as well as operational inspections and financial evaluations during the licensing process. Mantra has secured approvals for VASP licensing together with exchange services, broker-dealer operations, and investment management. Therefore, strengthens its position in RWA tokenization and DeFi.
The future of DeFi & tokenization in Dubai
Tokenization transforms real-world assets like commodities and securities into blockchain-based digital tokens. Through partnerships with Damac Group, Libre Capital, and MAG, Mantra is at the forefront of this movement.
Therefore, through their partnerships, Mantra aims to advance tokenized financing solutions. Thereby serving the real estate and hospitality sectors together with financial services. The expansion of Mantra brings forward its regulatory-compliant DeFi products which establishes it as the premier blockchain solution in Dubai’s technological realm.
