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MANTRA CEO: 'Institutional adoption of tokenization already has significant product-market fit'

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MANTRA CEO: 'Institutional adoption of tokenization already has significant product-market fit'
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John Patrick Mullin (second from the right), Co-founder and CEO of Mantra, joins the panel discussion on asset tokenization. | Crypto Republique

John Patrick Mullin, CEO of MANTRA, said that Larry Fink’s public endorsement of tokenization has accelerated its adoption at both "startup" and "institutional" levels, though less so in "retail" blockchain use. Mullin made this statement during his talk at Binance Blockchain Week.

"With Larry Fink talking about it publicly, it's allowed this floodgate to open where actually now we can start building things in public, both at a startup level like MANTRA, but also at the institutional level like BlackRock," said Patrick Mullin. "Institutional adoption of tokenization already has significant product-market fit, where we haven't seen it at the retail permissionless blockchain level."

The tokenized asset market is projected to grow significantly from $1.5 trillion to $16.1 trillion by 2030, as forecasted by Boston Consulting Group (BCG) in 2023. This growth suggests a promising future for borderless, on-chain investments.

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According to a report by The Wall Street Journal, in March 2024, BlackRock launched its first tokenized money market fund on the Ethereum blockchain in collaboration with Securitize Markets. This initiative demonstrates BlackRock's commitment to integrating blockchain technology into traditional financial products.

Mullin is a Hong Kong-based entrepreneur focused on decentralized finance (DeFi), blockchain technology, digital assets, and Web3. He is currently the CEO and co-founder of MANTRA and SOMA.finance and has been active in the crypto and digital assets space for over a decade.

MANTRA is a blockchain platform that tokenizes real-world assets while adhering to regulatory requirements. It supports developers and users with low-cost transactions, identity verification, and compliance with Know Your Customer (KYC) and Anti-Money Laundering (AML) regulations. Built on Cosmos SDK with Inter-Blockchain Communication (IBC), MANTRA enables secure cross-chain transactions, decentralized identity (DID), and governance.

Binance Blockchain Week is an event that gathers innovators, founders, investors, regulators, and officials to discuss the future of blockchain and Web3. The theme of this year's conference is "Momentum," which emphasizes progress through challenges towards significant achievements.

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