Mantra’s native token, OM, reached an all-time high of $1.0924 amid a strategic expansion in the UAE. At present, OM is trading at $1.06, up 13% in the last 24 hours.
The token saw a 234% increase in trading volume, hitting $168 million, and its market cap surpassed $800 million, making it the 90th largest cryptocurrency. OM holders can engage in lending, borrowing, and voting on platform proposals.
The recent surge follows Mantra’s Memorandum of Understanding (MOU) with UAE-based Zand Bank to define frameworks for RWA tokenization in compliance with Dubai’s Virtual Asset Regulatory Authority (VARA). This initiative aims to improve asset management efficiency and transparency.
Earlier, Mantra secured $11 million in funding, led by Shorooq Partners, to promote RWA tokenization. This collaboration marks a significant step towards integrating blockchain technology into financial services, enhancing security and control over investments.
The strategic partnership promises to simplify operations and broaden market access, signaling long-term growth and innovation in the sector.
