MANTRA Finance, a leading decentralized finance (DeFi) platform, has successfully obtained a Virtual Asset Service Provider (VASP) license from Dubai’s Virtual Assets Regulatory Authority (VARA). This regulatory approval will allow MANTRA to provide digital asset exchange, broker-dealer, investment, and management services in the United Arab Emirates (UAE), marking a significant milestone in its global expansion strategy.
Dubai’s Crypto-Friendly Regulatory Landscape
Dubai has positioned itself as a key global hub for digital assets, thanks to its forward-thinking regulatory approach. VARA, established in 2022, serves as the city’s dedicated regulatory body for virtual assets, ensuring a secure and compliant environment for crypto businesses. The region’s clear regulatory framework has attracted a wave of blockchain companies and institutional investors looking for regulatory certainty.
John Patrick Mullin, CEO of MANTRA, praised Dubai’s approach to crypto regulation, stating:
“Dubai and VARA have established one of the most comprehensive and forward-thinking regulatory frameworks for virtual assets and Web3. This license was a crucial step for MANTRA and a key milestone in our journey toward global expansion.”
The UAE government has been actively fostering innovation in blockchain and digital assets. Initiatives like the Emirates Blockchain Strategy aim to integrate distributed ledger technology into various sectors, making Dubai an attractive destination for fintech firms.
MANTRA’s Focus on Real-World Asset (RWA) Tokenization
With its newly acquired license, MANTRA plans to introduce a suite of innovative financial products tailored to institutional investors and qualified clients in the UAE. A major focus of its strategy will be the tokenization of real-world assets (RWAs), a growing trend in DeFi that enables the digital representation of tangible assets such as real estate, commodities, and bonds on blockchain networks.
Mullin emphasized the importance of regulatory clarity in driving institutional adoption of tokenized assets:
“The next phase, which I describe as the ‘real rollout of RWAs,’ will be driven by regulation. This was evident last year when major inflows into crypto ETFs followed regulatory approvals. Regulation fosters institutional adoption.”
Initially, MANTRA’s tokenization services will cater primarily to institutional investors. However, the company has plans to expand access to retail investors in the future, making DeFi and tokenized assets more widely available.
MANTRA’s Broader Expansion Strategy
MANTRA’s regulatory milestone aligns with Dubai’s broader ambition to attract global digital asset firms. The city's well-defined regulatory environment, combined with its reputation as a financial and technology hub, has made it a prime destination for blockchain-based businesses.
Beyond securing its VASP license, MANTRA has been forging strategic partnerships to strengthen its presence in the region. In January 2025, the company signed a $1 billion agreement with Dubai-based real estate developer DAMAC Group to tokenize Middle Eastern real estate assets. This partnership underscores the increasing intersection of blockchain technology with traditional industries, further legitimizing DeFi’s role in mainstream finance.
MANTRA Finance’s expansion into Dubai signals a major step forward for the DeFi sector, especially in the tokenization of real-world assets. With a supportive regulatory environment and growing institutional interest, the company is well-positioned to bridge the gap between traditional finance and blockchain-powered solutions.
As the UAE continues to establish itself as a leader in crypto regulation, firms like MANTRA are expected to play a pivotal role in shaping the future of finance in the region.
