Mavryk Network, a Layer-1 blockchain platform designed for real-world asset (RWA) tokenization, has raised $10 million in a strategic investment round led by MultiBank Group.
The funding will support Mavryk’s initiative to tokenize over $10 billion worth of real estate assets in the UAE. This project is part of a broader partnership with MultiBank Group, a financial derivatives provider with a global presence. The collaboration aims to enhance liquidity and accessibility in the UAE’s real estate market through blockchain technology.
To ensure the security of tokenized assets, Mavryk has integrated Fireblocks’ multiparty computation (MPC) wallets into its platform. This integration allows investors to trade and borrow against real estate-backed tokens without managing private keys, thereby enhancing user experience and security.
The tokenization of real estate assets is expected to democratize access to high-value properties, enabling fractional ownership and broadening the investor base. Mavryk’s platform aims to streamline processes such as rental income distribution and title transfers, reducing reliance on intermediaries and cutting transaction times from weeks to minutes.
With this investment, Mavryk Network is poised to play a significant role in transforming the UAE’s real estate market by leveraging blockchain technology to unlock new opportunities for investors and property owners alike.
Holo Secures $22M Series A to Revolutionize Homeownership in UAE and Saudi Arabia
Fintologya, a Bahrain-based fintech startup Secures US$1 million in a seed funding round
Read more on Techgist Africa | Africa Leading Tech News, Reviews and Tips
