We’re thrilled to announce that we’ve signed a Memorandum of Understanding (MOU) with Zand Bank to boost the UAE’s digital asset landscape. Together, we aim to develop robust regulatory frameworks, thereby paving the way for wider adoption of compliant RWAs in the region.

Zand Bank: A Digital Powerhouse

Licensed by the Central Bank of the UAE, Zand Bank offers ease, safety, and transparency to retail and corporate clients in the digital banking sector. As the UAE’s first licensed digital bank, Zand brings a wealth of experience in financial services and a passion for continuous innovation.

Their “digital DNA” philosophy perfectly complements MANTRA’s mission to bring real world assets onchain. Zand Bank’s established infrastructure and focus on client-centric solutions make them ideally suited to bridge the gap between traditional finance (TradFi) and decentralized finance (DeFi).

A Collective Push for Compliant RWAs

MANTRA and Zand will focus on defining clear frameworks for RWA tokenization, in compliance with the Virtual Asset Regulatory Authority of Dubai (VARA). This signifies a major step towards the seamless identification, listing, and distribution of real world assets within the UAE.

“We are excited to leverage MANTRA’s RWA-focused blockchain to redefine how we transact and manage ownership. This collaboration represents a step forward in our journey to amalgamate blockchain technology with our robust financial offerings to give our clients greater control over their investments, enhanced security, and more clarity into the lifecycle of their transactions. We aim to simplify operations, reinforce trust and authenticity in the assets’ legality, and broaden access to the wider market.” said Michael Chan, CEO of Zand.

The MOU will ensure strict compliance with relevant standards, investor protection measures, and regulatory requirements. In doing so, we aim to remove hurdles and foster trust, confidence, and widespread adoption of RWAs across the region.

Unlocking the Potential of RWA Tokenization

MANTRA’s focus on regulatory compliance aligns with Zand Bank’s commitment to operating within the framework set by the Dubai Virtual Asset Regulatory Authority (VARA). This shared vision ensures a secure and trustworthy environment for RWAs within the UAE.

“The agreement between Zand and MANTRA is a testament to both companies’ position at the vanguard of digital finance in the Middle East. The vision behind the collaboration aims to catapult both the custody and exchange of real world assets as a permanent fixture in the suite of retail banking services in the region, towards establishing industry standards for tokenization,” stated John Patrick Mullin, CEO of MANTRA.

With our combined expertise in digital banking and secure RWA-focused blockchain technology, we seek to unlock the full potential of RWA compliance within the UAE and beyond, towards a more efficient and inclusive financial future.

About Zand Bank

Digital is our DNA. Zand aims to revolutionize the finance world with innovation, AI, Blockchain technology, and Client-centric solutions that bridge TradFi and DeFi, empowering our UAE and global Corporate, Institution, and Wealth clients to thrive in the evolving digital economy.

For more information, visit www.zand.ae.