Real Estate Developer UAE Kongloma Mag, who had previously signed a 500 million dollar deal with a mantra chain, has now signed an even greater symbolic transaction worth $ 3 billion worth $ 3 billion with the Multibank Group and Blockchain Tokenization Infrastructure Officer Mavyk.
According to press releasePartnership brings MAG's high-value real estate developments, such as Ritz-Carlton residence, Dubai, Creeks, Keturah Resort and Keturah Reserve, Blockchain, making them available to global investors on multibank.IO fully regulated RWA market.
After starting, RWA property owners can earn a daily return on Multibank.IO platform.
The $ MBG Token gets access to access, bet, payment of fees and involvement of the platform, positioning it as a layer of infrastructure behind the institutional quality of digital asset offers.
Mavryk supplies chip chain infrastructure
Mavryk, 1. A layer of block circuit, which works in the real estate sector to make the Iliqvid properties traded as a digital asset through defe-engine loans and fractionated ownership, gives the chip circuit infrastructure to support the extraction of the chain assets.
The Multibank Group monitors regulatory compliance, aftermarket liquidity and platform control.
Moafaq Al Gaddah, Vice-Chairman of MAG Senior Country Chairman, said: “In Mag, we are always driven by cutting-edge and passion for tomorrow's real estate landscape. Partnership with the Multibank Group marks a milestone, which expands access to high-value development and lagging for liquidity via blockchain.”
“It's not just a real estate transaction, it's a $ MBG sign flagship case. If you allow a smooth access to a tokenized asset to the $ 3B dollar, the Multibank bridge will become a regulated finance and the next generation investment infrastructure,” said Zak Taher, founder and chief executive.
MAG signed a $ 500 million tokenization deal with a mantra chain
In July 2024, Mag Group Holding, a mantra and an AAE, announced a $ 500 million real estate resource. At that time, it was noted that the mantra chain would indicate the real estate resources in several states, while investors would earn yields through Stablein and OM signs.
The first part would cover the residential project Keturah's reserve, built by Mag Dubai in Meydan. Also, the part of the group is packed in the development of a $ 75 million mega Mega Mansion “Ritz-Carlton Residens, Dubai, Creeks”.
Investors earn returns through Stablecoins and Mantra OM.
Given that the new announcement with Multibank deals with the same features that were mentioned earlier in their mantra chain, it seems that the mag has abandoned its contract with the mantra chain and has decided to label all their attributes with Multibank.
Cryptopolitan Academy: Soon – a new way to earn a passive income with a defi in 2025. For more information
