About MANTRA Chain: legal entities, licence and leadership

What MANTRA does

MANTRA describes itself in four parts. MANTRA Chain is the Layer 1 blockchain. MANTRA Finance is the platform of Mantra Finance FZE, the company licensed by VARA under VASP Licence VL/25/02/001. mantraUSD is a US-dollar token in the MANTRA ecosystem, which the site describes as backed by US Treasury bills through M^0 Protocol. The fourth part is a network of applications, "primarily NVNM Chain".

The stated mission is to "Provide a trusted, accessible and inclusive financial ecosystem through tokenization." Two audiences are addressed. Institutions issue and manage tokenized assets, and the page on real estate tokenization work covers property. Builders deploy applications on the chain. The stack is set out on the page about the tokenization platform, the coin under MANTRA token facts, and the network as a whole in the MANTRA Chain overview.

How the three companies relate

No group chart is published. MANTRA's press release of 19 February 2025 describes the licensed company as "operated by MANTRA Group", and this site calls it a separate MANTRA Group company. No parent or subsidiary link between the three is asserted here.

MANTRA Chain Association operates the MANTRA Chain blockchain and is not licensed by VARA. Its Terms say that it "only operates the blockchain, MANTRA Chain, but does not provide or offer any products or services".

What the VARA licence covers and what it does not

Licensed activities and investor classes

Mantra Finance FZE is licensed by Dubai's Virtual Assets Regulatory Authority (VARA) under VASP Licence VL/25/02/001, issued on 19 February 2025. The register lists three activities:

• Exchange Services
• Broker-Dealer Services
• Management and Investment Services

Not covered

• The register entry lists no Category 1 VA Issuance activity.
• The licence belongs to Mantra Finance FZE. It does not extend to MANTRA Chain Association, to MANTRA Ventures Limited or to the MANTRA coin.
• A licence is not an endorsement. In MANTRA's own words: "Licensing or registration with VARA does not imply endorsement or approval of any specific Virtual Asset product, offering, or service."
• For the European Union MANTRA publishes a crypto-asset white paper under MiCA Article 6. That is a disclosure document, and no CASP authorisation is claimed for any MANTRA entity.

Every register field, with the date it was read, is on the page for MANTRA licences and regulatory disclosures.

Ownership, backers and the Inveniam acquisition

The site lists three backers: Inveniam Capital Partners, Laser Digital, which it describes as Nomura-backed, and Shorooq Partners.

On 16 June 2026 Inveniam Capital Partners announced plans to acquire MANTRA and its affiliated entities. According to the announcement, the MANTRA brand, the team, MANTRA Chain, the MANTRA coin, MANTRA Finance and mantraUSD continue, and the financial terms were not disclosed. The same announcement gives two closing dates, "by June 30, 2026" and "in Q3 2026". Closing status on 11 October 2026: Not published

Inveniam also made a strategic investment in MANTRA in August 2025. Two first-party sources state different amounts, so no figure is printed here until the owner confirms it.

How MANTRA makes money

No revenue breakdown is published. Three points are on the record. The Association's Terms say it only operates the blockchain and offers no products or services. Mantra Finance FZE, the licensed company in the table above, is the one permitted to serve investors. And 7.93% of the total MANTRA supply is a team and core contributor allocation that sat outside the circulating supply on 23 August 2026; readers should treat it as a financial interest of the team in the coin. Users of the chain pay network fees in MANTRA.

Transparency and governance

MANTRA publishes a weekly transparency report with supply, staking, transaction and governance figures. The index listed 21 reports on 11 October 2026. The newest covers 28 September to 4 October 2026 and notes that it is assembled with AI assistance from on-chain sources.

Changes to the chain go through on-chain votes. Report 21 counts 39 proposals to date. The latest, Proposal 38, a mainnet upgrade to v8.7.0, passed on 25 September 2026 with 43.70% turnout against a 33.40% quorum.

Blocks are produced by a set of validators. The post-mortem of the August 2026 incident refers to 38 independent validators, and Securitize joined the set, as announced on 22 May 2026.

One legal matter is closed. A Hong Kong court discontinued all legal actions between MANTRA and RioDeFi, and the parties issued a joint statement dated 30 May 2025, as MANTRA's own summary file records.

Timeline

1. 2020MANTRA is founded.
2. November 2023First testnet.
3. 23 October 2024Mainnet goes live.
4. 19 February 2025Mantra Finance FZE is licensed by VARA under VASP Licence VL/25/02/001.
5. 13 April 2025The OM token falls 92% in about one hour, by MANTRA's own account. See the April 2025 OM price collapse.
6. 17 September 2025EVM compatibility arrives with release v5.0.0.
7. 2 March 2026The ticker changes from OM to MANTRA, with a 1:4 redenomination.
8. 16 June 2026Inveniam Capital Partners announces plans to acquire MANTRA.
9. 20 August 2026The chain is exploited and halts for 30 hours 13 minutes.

How we write and review content

Pages and guides carry the byline MANTRA Chain Research Team and are reviewed by the Head of Compliance. Drafting may be AI-assisted, and a named person checks every fact against its source before a page is published. Sourcing rules, review dates and corrections are set out in the editorial policy.