MANTRA and Damac sign a $1 billion cooperation agreement to tokenize assets in the Middle East

ChainCatcher news, the blockchain MANTRA built for tokenizing real-world assets (RWA) has signed a $1 billion agreement with investment group Damac Group. MANTRA will tokenize assets of the real estate developer DAMAC Group worth at least $1 billion in early 2025.

Damac's portfolio spans various sectors including real estate development, data centers, and hotels, and it will use MANTRA to tokenize its extensive asset portfolio.

MANTRA stated that in the coming weeks, it will announce which DAMAC assets will be tokenized and the specific details of the token issuance, which is set to begin in early 2025.