In a significant development for the blockchain landscape, MANTRA has successfully launched its latest mainnet upgrades, establishing itself as the first Layer 1 blockchain to support both Ethereum Virtual Machine (EVM) and CosmWasm smart contracts natively. This innovative achievement positions MANTRA as the first true MultiVM layer 1 tailored specifically for real-world assets (RWAs).
The upgrade correlates with MANTRA Finance’s recent acquisition of a Virtual Asset Service Provider (VASP) license from Dubai’s Virtual Assets Regulatory Authority (VARA). This not only enhances MANTRA’s credibility in the burgeoning tokenization market but also illustrates its technical advancements and strategic growth. The MultiVM framework empowers developers and institutions to utilize familiar development tools while leveraging MANTRA Chain’s robust security and scalability. Future enhancements anticipated from these upgrades include permissioned liquidity pools, institutional compliance frameworks, and broader interoperability with other blockchains. As a result, it simplifies the process for developers, investors, and asset owners to transition traditional assets onto the blockchain, providing global investors access in a secure and transparent manner.
The tokenization market, estimated at $16 trillion, is poised for rapid growth, with institutional focus increasingly gravitating toward EVM infrastructure. In response, MANTRA has positioned itself to fully support EVM compatibility in order to meet the needs of both developers and institutions.
John Patrick Mullin, the Founder and CEO of MANTRA, emphasized the significance of the EVM upgrade, asserting that it not only enhances performance but also integrates compliance more thoroughly into the protocol. This evolution aims to pave the way for greater accessibility, trust, and regulatory clarity in the tokenization of real-world assets, marking a progressive step toward a more open and efficient future for finance.
MANTRA’s unique approach to compliance sets it apart from many other blockchains that typically enforce regulations through smart contracts. By embedding regulatory requirements at the protocol level, MANTRA offers a heightened assurance of compliance, alleviating the dilemma institutional investors often face between regulatory clarity and EVM accessibility. This approach combines the full suite of EVM opcodes and precompiles with low transaction fees, tailored specifically for RWA applications.
Among the immediate benefits of the upgrade, developers can now deploy Solidity-based decentralized applications (dApps) directly on MANTRA Chain without any alterations, alongside the capability to fork and customize decentralized finance (DeFi) protocols for RWAs. Soon, seamless fund bridging from other EVM chains will also be available.
For institutions, MANTRA presents an opportunity to engage with a chain that is both EVM compatible and self-sovereign, enhanced by the VASP license that enables it to provide a variety of financial services, including exchange and broker-dealer operations.
Recent weeks have seen MANTRA gain momentum through a strategic partnership with Inveniam, aimed at creating a global institutional RWA ecosystem centered in the UAE and the United States, as well as a buyback of its $OM token to support long-term ecosystem growth. Furthermore, MANTRA has improved governance and decentralization by incorporating established entities like Binance, Nansen, and Inveniam as validators.
In a bid to solidify its position as a leader in the sector, MANTRA plans to hold Agentic., a two-day summit in Abu Dhabi on October 21 and 22, which is geared towards addressing the future of markets, trading, tokenization, and financial innovation.
With these foundational advancements in place, MANTRA is poised to enter a new chapter, concentrating on scaling adoption, onboarding new asset issuers, and demonstrating secure, transparent, and compliant ways to facilitate tokenized finance. For further details, visit their official website.
MANTRA is designed specifically as a Layer 1 blockchain for real-world assets, with an emphasis on regulatory compliance and is equipped with advanced modular technology and cross-chain interoperability, backed by its VASP license from VARA.
