Binance-listed altcoin Mantra has partnered with UAE real estate giant Damac to tokenize $1 billion worth of assets, Coindesk reported.
The parties stated in their statement that MANTRA will tokenize at least $1 billion worth of assets of real estate developer DAMAC Group at the beginning of 2025.
Within the scope of the agreement, the companies aim to simplify traditional investment processes while increasing accessibility for both retail and institutional investors by tokenizing assets.
A MANTRA spokesperson said that which DAMAC properties will be tokenized will be announced in the coming weeks.
“Tokenizing our assets will provide investors with secure, transparent and easy access to a wide range of investment opportunities,” DAMAC General Manager Amira Sajwani said in a statement.
DAMAC’s portfolio includes real estate developers, accommodation and data centers, and the company also began accepting crypto payments, including Bitcoin (BTC) and Ethereum (ETH), in 2022.
Following the news, the Mantra (OM) price moved upwards.
*This is not investment advice.
