Bank

Patrick

United

MANTRA

Shiba Inu

<div class="finbold">
 <p class="paragraph">Zand Bank PJSC, a digital bank licensed by the Central Bank of the United Arab Emirates (UAE), has signed a Memorandum of Understanding (MOU) with MANTRA, a blockchain platform focused on <a rel="noopener noreferrer nofollow" title="real-world" href="https://thebittimes.com/tag/real-world.html">real-world</a> <a rel="noopener noreferrer nofollow" title="asset" href="https://thebittimes.com/tag/asset.html">asset</a>s (RWAs), as per the latest info shared with Finbold on June 5.&nbsp;</p>
 <p class="paragraph">The partnership aims to streamline the process of <a rel="noopener noreferrer nofollow" title="asset" href="https://thebittimes.com/tag/asset.html">asset</a> <a rel="noopener noreferrer nofollow" title="tokenization" href="https://thebittimes.com/tag/tokenization.html">tokenization</a>, encompassing identification, listing, and distribution of RWAs.</p>
 <p class="paragraph">As MANTRA CEO John Patrick Mullin has said, the agreement is a testament to both sides’ dedication to the Middle Eastern market:</p>
 <div class="border border-red-300 rounded-xl p-6 not-prose mb-6">
  <h3 class="text-2xl font-black mt-0 flex gap-x-3 mb-5">
   <svg width="32" height="32" viewbox="0 0 32 32" fill="none" xmlns="//www.w3.org/2000/svg"><path d="M4 10.6665V25.3332C4 28.2678 6.392 29.3332 8 29.3332H28V26.6665H8.016C7.4 26.6505 6.66667 26.4078 6.66667 25.3332C6.66667 24.2585 7.4 24.0158 8.016 23.9998H28V5.33317C28 3.8625 26.804 2.6665 25.3333 2.6665H8C6.392 2.6665 4 3.73184 4 6.6665V10.6665ZM8 5.33317H25.3333V21.3332H6.66667V6.6665C6.66667 5.59184 7.4 5.34917 8 5.33317Z" fill="#EF4444"> 
    </path> <path d="M15.996 18.6668L20.4626 14.2815C20.738 14.0166 20.9571 13.6989 21.1068 13.3473C21.2564 12.9957 21.3336 12.6176 21.3336 12.2355C21.3336 11.8534 21.2564 11.4752 21.1068 11.1236C20.9571 10.7721 20.738 10.4543 20.4626 10.1895C19.9074 9.64148 19.1587 9.33422 18.3786 9.33422C17.5985 9.33422 16.8498 9.64148 16.2946 10.1895L15.996 10.4801L15.6973 10.1881C15.1423 9.64023 14.3938 9.33301 13.614 9.33301C12.8341 9.33301 12.0856 9.64023 11.5306 10.1881C11.2552 10.453 11.0361 10.7707 10.8865 11.1223C10.7368 11.4739 10.6597 11.852 10.6597 12.2341C10.6597 12.6162 10.7368 12.9944 10.8865 13.346C11.0361 13.6975 11.2552 14.0153 11.5306 14.2801L15.996 18.6668Z" fill="#EF4444"> 
    </path>
   </svg> Picks for you</h3>
  <div class="grid md:grid-cols-2 gap-x-10 gap-y-3 md:gap-y-5 divide-y divide-gray-300 md:divide-y-0">
   <div class="md:odd:pr-4 md:odd:border-r odd:border-gray-300 pt-3 first:pt-0 md:pt-0">
    Bitcoin trader marks ideal and highest risk entry points to BTC right now <span class="self-center text-xs text-slate-500">5 mins ago</span>
   </div>
   <div class="md:odd:pr-4 md:odd:border-r odd:border-gray-300 pt-3 first:pt-0 md:pt-0">
    SHIB trader who made $120M just bought $18M Shiba Inu <span class="self-center text-xs text-slate-500">6 mins ago</span>
   </div>
   <div class="md:odd:pr-4 md:odd:border-r odd:border-gray-300 pt-3 first:pt-0 md:pt-0">
    How rich is California senator Alex Padilla; Alex Padilla's net worth revealed <span class="self-center text-xs text-slate-500">23 mins ago</span>
   </div>
   <div class="md:odd:pr-4 md:odd:border-r odd:border-gray-300 pt-3 first:pt-0 md:pt-0">
    How rich is Texas senator John Cornyn; John Cornyn's net worth revealed <span class="self-center text-xs text-slate-500">29 mins ago</span>
   </div>
  </div>
 </div>
 <div class="mb-4 bg-slate-50 rounded-md layout-adjustment">
  <div id="finbold.com_middle" style="min-width: 300px; min-height: 250px;">
  </div>
 </div>
 <blockquote class="wp-block-quote">
  <p class="paragraph">“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, as well as to establish industry standards for tokenization.”</p> <cite>– MANTRA CEO John Patrick Mullin</cite>
 </blockquote>
 <h2 class="wp-block-heading" id="h-rwa-tokenization-across-in-the-uae">RWA tokenization across in the UAE</h2>
 <p class="paragraph">The collaboration will also focus on developing frameworks to support the tokenization and distribution of RWAs, ensuring compliance with the Virtual Asset Regulatory Authority of Dubai (VARA).&nbsp;</p>
 <p class="paragraph">These frameworks are designed to provide clear guidelines for tokenization and ensure adherence to compliance standards, investor protection measures, and regulatory requirements.&nbsp;</p>
 <p class="paragraph">Michael Chan, CEO of Zand, expressed his excitement for the opportunity to leverage MANTRA’s blockchain, stating:</p>
 <blockquote class="wp-block-quote">
  <p class="paragraph">“We are excited to leverage MANTRA’s blockchain, which is purpose-built for RWA to redefine the way we transact and manage ownership as well as transparency. 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 <a rel="noopener noreferrer nofollow" title="asset" href="https://thebittimes.com/tag/asset.html">asset</a>s’ legality, and broaden access to the wider market.”</p> <cite>– Michael Chan, CEO of Zand</cite>
 </blockquote>
 <p class="paragraph">The partnership underscores the innovative steps being taken in the UAE’s financial sector, positioning Zand Bank and MANTRA as pioneers in merging traditional banking with cutting-edge blockchain technology.</p>
 <p class="paragraph">The overarching goal is to foster trust, confidence, and widespread adoption of RWA tokenization across the UAE.</p>
</div>
<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/zand-bank-and-mantra-partner-to-revolutionize-real-world-asset-tokenization-tbt91476.html">https://thebittimes.com/zand-bank-and-mantra-partner-to-revolutionize-real-world-asset-tokenization-tbt91476.html</a></p>

Zand Bank and MANTRA partner to revolutionize real-world asset tokenization

Table of Contents

TheBitTimes

Other articles published on Jun 5, 2024

Best 4 Altcoins to Buy for 10x Profits in June 2024: PolitiFi Tokens Leading The Charge

Super Trump Price Prediction: STRUMP Plunges 9% As This New AI Meme Coin ICO Charges Towards $5 M...

Michael Novogratz Predicts Bitcoin To $100K By The End Of 2024

EU Elections to Shape Future of Crypto Regulations and Spot Ether ETFs

FLOKI surges 30%, hits new ATH, Is meme crypto bull run back?

BlockDAG’s Novel Keynote 2 & X1 Beta App Release Impresses as Presale Exceeds $41.6M Amid Solana ...

Join our free newsletter for daily crypto updates!