Mantra's native token, OM, has achieved its all-time high of $1.0924, making it the top gainer among the leading 100 cryptocurrencies. At present, OM is still up 13% in the last 24 hours, trading at $1.06, with a notable surge in trading volume, reaching $168 million. Additionally, the token's market cap has exceeded $800 million, placing it as the 90th largest cryptocurrency.

OM serves dual purposes within the Mantra platform, which focuses on real-world assets. Holders can utilize OM for various DeFi activities such as lending, borrowing, and earning rewards, in addition to having voting rights on platform proposals.

This surge follows Mantra's recent Memorandum of Understanding (MOU) with UAE-based bank Zand, aiming to establish clear regulations for real-world asset (RWA) tokenization in compliance with Dubai's Virtual Asset Regulatory Authority (VARA). The collaboration seeks to streamline RWA tokenization processes in the UAE, enhancing asset management efficiency and transparency.

Zand's CEO, Michael Chan, emphasized the significance of integrating blockchain technology with their financial services to empower clients with better control over investments, improved security, and enhanced transaction insights. The collaboration aims to simplify operations, strengthen trust in asset legality, and broaden market access.

In March, Mantra concluded an $11 million funding round led by Shorooq Partners, with participation from Three Point Capital, Forte Securities, and Virtuzone. The funds will be utilized to bolster efforts in promoting large-scale RWA tokenization, aligning with the platform's expansion plans.

Mantra's strategic collaboration with Zand underscores its commitment to driving innovation in the blockchain space, particularly in real-world asset tokenization, while leveraging partnerships to accelerate its growth trajectory.