RWA Tokenization Platform MANTRA Chain Mainnet Launch Set for October 2024

Real-world assets platform MANTRA has announced that the mainnet launch for its MANTRA Chain will go live in October 2024.

Real-world assets platform MANTRA has announced that the mainnet launch for its MANTRA Chain will go live in October 2024. Unveiled in April 2023, MANTRA Chain is a layer-1 blockchain designed for the tokenization of real-world assets (RWAs).

According to a Sept. 18 announcement, the mainnet launch will introduce enhanced network stability, institutional-grade access to on-chain finance and tokenized assets, among other key features.

Bridging DeFi and TradFi

The mainnet will also further the blockchain platform’s goal of bringing traditional finance on-chain, said John Patrick Mullin, co-founder and CEO of MANTRA.

“MANTRA’s token and stablecoin on-ramps continue to attract more businesses and industry players to the RWA and asset tokenization space, helping to bridge the gap between decentralized finance and traditional finance,” Mullin said.

MANTRA has struck some key partnerships to support this objective, which will be realized with the mainnet launch of MANTRA Chain. The platform launched its incentivized testnet in April and struck a signficant partnership with MAG, a UAE-based real estate giant. The deal centers around the tokenization of $500 million in real estate.

In August, MANTRA also disclosed a memorandum of understanding between the blockchain firm and an aviation finance company. The collaboration aims to unlock RWA investment opportunities in the aviation sector, which represents a market of over $200 billion.

These developments have recently catalyzed the native token OM’s performance, with prices surging amid a spike in active wallets and staking.