Mantra Chain said in a press release that it will tokenize $500 million worth of assets from Dubai real estate developer MAG Group.
Mantra, which focuses on its business in the Middle East, will divide the assets into multiple tranches, the first of which will include a residential project, Keturah Reserve, built by MAG in Meydan, Dubai, and a mega-mansion in the $75 million "The Ritz-Carlton Residences, Dubai, Creekside" development.
Investors will earn returns through stablecoins and Mantra's OM tokens, and are expected to earn an 8% yield on stablecoins and receive additional OM tokens. (CoinDesk)