Mantra Team Launches $108 Million Fund to Propel RWA and DeFi Innovation

The developers of the Mantra Layer 1 (L1) blockchain have launched the Mantra Ecosystem Fund (MEF) amounting to $108.9 million to support projects focused on the tokenization of real-world assets (RWA) and decentralized finance (DeFi).

The MEF aims to invest in startups at any stage of development around the globe through a network of partners and associated infrastructure.

Funding has been provided by Laser Digital, Shorooq, Brevan Howard Digital, Valor Capital, Three Point Capital, and Amber Group.

The fund’s launch occurred a month after Mantra became the first DeFi platform to obtain a virtual asset service provider license from Dubai’s VARA.

According to RWA.xyz, the total value locked (TVL) in this sector has surged to $19.7 billion.

Additionally, Fidelity Investments is reportedly preparing to launch its own stablecoin to enhance its presence in the digital asset market.

This initiative is part of Fidelity’s expansion into the RWA space. Previously, the company submitted a request to register a tokenized version of its Fidelity Treasury Digital Fund, which represents a U.S. money market fund.

Earlier, the RWA project Ondo Finance integrated with Mastercard’s Multi-Token Network blockchain system.