Close Menu
AlexaBlockchain
  • News
  • Press Releases
    • Submit Press Release
  • Adoption
  • Funding
  • Interview
  • Policy
  • Explained
    • Bitcoin Halving 2024: Will it Trigger the Next Bull Run?
    • Everything You Wanted to Know About Bitcoin But Were Too Afraid To Ask
    • Cryptocurrency: what makes it so popular?
    • Top Five Crypto Scams And How To Avoid Them
    • Cloud Mining Explained
    • What are NFTs?
    • What is a Web3 Browser?
    • How To Build High Quality Crypto Backlinks
  • About
  • Advertise
  • Trending
    • #BitcoinHalving
    • #CloudMining
    • #Web3.0
    • #Metaverse
    • #NFTs
    • #PlayToEarn
    • #DeFi
    • #BlockchainTechnology
    • #Bitcoin
    • #Cryptocurrency
    • #DigitalAssets
Facebook X (Twitter) Instagram
Friday, May 30
  • Advertise
  • Crypto PR
  • Partner
  • Submit Press Release
  • Contact Us
X (Twitter) Facebook LinkedIn Instagram
AlexaBlockchain
Banner
  • News
  • Press Releases
    • Submit Press Release
  • Adoption
  • Funding
  • Interview
  • Policy
  • Explained
    • Bitcoin Halving 2024: Will it Trigger the Next Bull Run?
    • Everything You Wanted to Know About Bitcoin But Were Too Afraid To Ask
    • Cryptocurrency: what makes it so popular?
    • Top Five Crypto Scams And How To Avoid Them
    • Cloud Mining Explained
    • What are NFTs?
    • What is a Web3 Browser?
    • How To Build High Quality Crypto Backlinks
  • About
  • Advertise
  • Trending
    • #BitcoinHalving
    • #CloudMining
    • #Web3.0
    • #Metaverse
    • #NFTs
    • #PlayToEarn
    • #DeFi
    • #BlockchainTechnology
    • #Bitcoin
    • #Cryptocurrency
    • #DigitalAssets
AlexaBlockchain
You are at:Home » MANTRA Secures VARA License
News

MANTRA Secures VARA License

"This license was a crucial step for MANTRA and a key step in our journey towards global expansion,” said MANTRA CEO, John Patrick Mullin.
Arun ShakyawarBy Arun ShakyawarFebruary 19, 2025Updated:February 19, 2025No Comments4 Mins Read
Twitter Facebook LinkedIn Reddit Email WhatsApp
MANTRA Secures VARA License
MANTRA Secures VARA License
Share
Twitter Facebook LinkedIn Pinterest Reddit Telegram Email WhatsApp

MANTRA Finance FZE (MANTRA) has obtained a Virtual Asset Service Provider (VASP) license from Dubai’s Virtual Assets Regulatory Authority (VARA). This license authorizes MANTRA to operate as a Virtual Asset Exchange and to offer Broker-Dealer, Management, and Investment Services within the emirate.

A New Chapter in Regulated DeFi Services

With this license, MANTRA is likely to expand its global footprint by introducing a suite of innovative, regulatory-compliant financial products tailored to the evolving needs of investors worldwide. The company aims to scale its operations in the Middle East, focusing on the tokenization of real-world assets (RWAs).

“This license was a crucial step for MANTRA and a key step in our journey towards global expansion,” stated John Patrick Mullin, CEO of MANTRA.

John also mentioned that Dubai and VARA have become world leaders in crypto regulation by establishing the most timely, comprehensive, and built-from-the-ground-up framework for virtual assets and Web3.

Dubai’s Progressive Regulatory Landscape

Dubai has rapidly emerged as a global hub for virtual assets, thanks in large part to VARA’s comprehensive regulatory framework. Established in March 2022 under Dubai Law No. 4 of 2022, VARA is the world’s first independent regulator dedicated to virtual assets. Its mandate includes overseeing the provision, use, and exchange of virtual assets across Dubai’s mainland and free zones, excluding the Dubai International Financial Centre (DIFC).

VARA’s regulatory framework encompasses a broad spectrum of virtual asset activities, including advisory services, broker-dealer services, custody services, exchange services, lending and borrowing services, management and investment services, and transfer and settlement services. This comprehensive approach ensures that entities like MANTRA operate within a well-defined legal structure, fostering innovation while safeguarding investor interests.

The Rigorous Path to Licensing

Obtaining a VASP license from VARA involves a meticulous two-stage process:

Initial Approval (Approval to Incorporate): Applicants submit an Initial Disclosure Questionnaire (IDQ) to the Department of Economy and Tourism (DET) or the relevant Free Zone Authority. This stage requires detailed documentation, including a business plan and information about the firm’s beneficial owners and senior management. Upon satisfactory review, an Approval to Incorporate (ATI) is granted, allowing the firm to proceed with legal incorporation and operational setup.

VASP License Application: Following the ATI, the firm must prepare and submit comprehensive documentation as guided by VARA. This includes detailed policies and procedures covering corporate governance, risk and compliance, technology infrastructure, and more. The application undergoes a thorough review process, which may involve meetings and interviews. Upon successful completion, the VASP license is issued, authorizing the firm to commence its virtual asset activities.

This stringent process ensures high standards of regulatory oversight, which means only entities meeting rigorous criteria are permitted to operate within Dubai’s virtual asset ecosystem.

MANTRA’s Strategic Positioning

With the VARA license secured, MANTRA is uniquely positioned to bridge the gap between decentralized finance and traditional finance. The company’s offerings will include innovative investment products that combine the benefits of DeFi—such as increased transparency, rapid trade settlement, and enhanced user control over assets—with the protections inherent in traditional financial systems.

MANTRA Chain, the company’s purpose-built Layer 1 blockchain, is designed to facilitate the tokenization of real-world assets. As a permissionless chain, it enables developers and institutions to seamlessly engage in the RWA tokenization space, offering advanced technology modules, compliance mechanisms, and cross-chain interoperability.

In June 2024, MANTRA further solidified its commitment to regulatory compliance and innovation by signing a Memorandum of Understanding (MOU) with Zand Bank P.J.S.C. This partnership focuses on defining clear frameworks for RWA tokenization in adherence to VARA’s guidelines, aiming to provide transparent and secure financial solutions within the UAE.

“By obtaining this license, MANTRA joins a growing community of regulated entities operating within the UAE, and we are excited to work alongside industry leaders to shape the future of virtual assets,” added Mullin.

Dubai’s Growing Virtual Asset Ecosystem

MANTRA’s licensing comes at a time when Dubai’s virtual asset ecosystem is experiencing rapid growth. As of December 2024, VARA has issued 23 VASP licenses, with notable entities such as Binance, BitOasis, and Bybit among the licensed operators. This expansion reflects Dubai’s strategic vision to become a global leader in the digital economy, attracting investments and fostering innovation in the virtual asset space.

Matthew White, CEO of VARA, mentioned that fewer than 5% of applicants have been granted a full VASP license.

This selective approach ensures that only entities meeting the highest standards of compliance and governance are authorized to operate, thereby enhancing investor confidence and market integrity.

Read Also: Jeff Garzik’s Bitcoin L2 Hemi Captures $265M TVL Before Mainnet

Disclaimer: The information provided on AlexaBlockchain is for informational purposes only and does not constitute financial advice. Read complete disclaimer here.

Image Credits: Unsplash, Shutterstock, Getty Images, Pixabay, Pexels, Canva

Dubai MANTRA VARA
Share. Twitter Facebook LinkedIn Reddit Pinterest Tumblr Telegram Email WhatsApp
Arun Shakyawar
  • Website
  • X (Twitter)
  • LinkedIn

Arun Shakyawar is a Tech writer based out of Los Angeles. He holds an Engineering degree in Electronics and communications, and an MBA in marketing. He specializes in TMT. Before writing full-time, Arun worked as a management consultant with leading consulting firms. As a consultant he developed interest in blockchain technology, and now actively tracks blockchain and digital asset markets. Arun can be reached at arun@alexablockchain.com.

More AlexaBlockchain

QFSCOIN Launches Affordable Cloud Mining Contracts to Democratize Bitcoin Access

May 30, 2025

Liquidium Launches Cross-Chain Bitcoin Lending Without Wrapped Tokens or Bridges

May 28, 2025

Sony’s Soneium Brings Viral Telegram Game Sleepagotchi to 200M Users via LINE

May 27, 2025

Taurus, Parfin to Build Institutional Digital Asset Infra Across Europe and LatAm

May 27, 2025

WalletConnect Launches WCT on Solana with 5M Airdrop, Goes Multichain via Wormhole

May 23, 2025

Sir Patrick Stewart, DeLorean Team Up Ahead of Its On-chain EV Marketplace Launch

May 22, 2025
Add A Comment

Comments are closed.

Don't Miss

QFSCOIN Launches Affordable Cloud Mining Contracts to Democratize Bitcoin Access

Liquidium Launches Cross-Chain Bitcoin Lending Without Wrapped Tokens or Bridges

Katana Launches High-Yield DeFi Blockchain Backed by GSR and Polygon Labs

Sony’s Soneium Brings Viral Telegram Game Sleepagotchi to 200M Users via LINE

Trending Topics
  • Blockchain News
  • Blockchain Technology
  • Blockchain Platforms
  • Blockchain Regulation
  • Bitcoin News
  • Ethereum News
  • Ripple News
  • Tezos News
  • CBDC
  • NFTs
Featured Companies
  • Binance
  • Tech Mahindra
  • Huobi
  • Efforce
  • Future FinTech Group
  • SuburbanColors
  • Launchpool Labs
  • Lucky Crab Club
  • SIMBA Chain
  • Bulldog Law
Stay Updated
  • Events
  • Newsletters
  • Follow
  • Follow on Google News
  • Blockchain Directory
Get In Touch
  • Crypto PR
  • Advertise
  • Partner
  • About
  • Masthead
  • Careers
  • Write for Us
  • Submit Press Release
  • Submit Guest Post
  • Contact US
Copyright © 2025. AlexaBlockchain
  • About
  • Advertise
  • Crypto PR
  • Submit Press Release
  • Write for Us
  • Careers
  • Privacy Policy
  • Affiliate Disclosure
  • Disclaimer
  • Contact

Type above and press Enter to search. Press Esc to cancel.