I’m beyond thrilled to share with the MANTRA community that we have successfully obtained a Virtual Asset Service Provider (VASP) license from Dubai’s Virtual Assets Regulatory Authority (VARA), to operate as a Virtual Asset Exchange, as well as provide Broker-Dealer and Management and Investment Services. 

This is huge. Not just for our team, but the wider industry. 

Internally, it’s a major step in our objective to bring the world’s financial ecosystem onchain by being the preferred ledger of record for real world assets. It’s a validation of our purpose,which is to provide developers and institutions with a purpose-built RWA Layer 1 Blockchain, that’s capable of adhering to real world regulatory requirements. 

Two key words right there - regulatory and requirements. 

We firmly believe that the next phase - let’s call it the real rollout of RWAs - will be driven by regulation.  This point was brought home strongly last year by the huge inflows to Crypto ETFs when the relevant rulings and approvals came through. 

Regulation brings adoption; and it’s best powered by the collective. 

Securing the first DeFI license from VARA will allow us to further pave the way for global growth and innovation in financial products. Equally important, it marks a significant milestone in our commitment to regulatory compliance, security, and innovation within the rapidly growing virtual assets ecosystem. 

It’s a milestone that would not be possible without the UAE, who through their regulatory initiatives and frameworks, have fast become a progressive global hub and thriving ecosystem for Web3 and virtual assets.  We are particularly appreciative of Dubai’s VARA, who have built the most timely, comprehensive framework for virtual assets and Web3 from-the-ground-up.

Our new license not only strengthens our presence regionally, it positions us internationally to deliver unique DeFi products that bridge the gap between decentralized finance and traditional finance. By obtaining this license, we’ll also join a growing community of regulated entities operating within the UAE.  Further, we will be uniquely positioned to scale our solutions and products ,offering them to our community, clients, and qualified investors in the UAE. It’s a community we’re excited to join. 

As the MANTRA team continues to innovate (we don’t rest on our laurels), we'll launch a variety of unique DeFi/RWA products designed to meet the dynamic needs of investors. Each product we offer will strictly adhere to regulations and international policy frameworks, ensuring that users benefit from security, protection, and cutting-edge financial tools. 

Finally, and most importantly, achieving this DeFi license reflects the values that drive us at MANTRA: conducting ourselves with reliability, honesty and integrity, in all our interactions and communications, internally and externally 

To those who have supported us so far, thank you. To those just joining, welcome. 

This is the beginning. 

Let’s keep building. 

JPM. 

CEO and Co-Founder, MANTRA