MANTRA Partners with Pyse to Tokenize Electric Motorcycles for Sustainable Deliveries in the UAE
Updated : 17:33
DUBAI, United Arab Emirates, Nov. 14, 2024 /PRNewswire/ -- MANTRA, a leading layer 1 blockchain focused on real-world asset (RWA) tokenization, has announced an exciting partnership with Pyse, a sustainability-driven RWA platform, to finance the deployment of electric motorcycles for delivery services across the UAE. This collaboration will kick off with initial deliveries of the striking pink electric vehicles (EVs) in Dubai starting this December.
Earlier this year, MANTRA selected Pyse as a key member of the MANTRA incubator program as part of its commitment to fostering innovative solutions in the green technology sector. Pyse aims to tokenize more than 10,000 electric motorcycles on the MANTRA Chain by the end of 2025, revolutionizing last-mile delivery while contributing to environmental sustainability.
"Dubai's logistics and food delivery sector is on the brink of an electric revolution," said Kaustubh Padakannaya, Co-founder of Pyse. "Our partnership with MANTRA allows us to tokenize the leasing of electric motorcycles, making them accessible to retail audiences. This initiative celebrates Dubai's sustainability goals while providing affordable mobility for all the rider heroes."
"As the demand for eco-friendly delivery solutions in the region rises, this partnership positions MANTRA Chain and Pyse at the forefront of bringing quality and purposeful RWAs onchain," John Patrick Mullin, CEO & Co-Founder of MANTRA. "The deployment of these eye-catching pink EV motorcycles marks a significant step towards achieving Dubai's ambitious sustainability goals."
The MANTRA Incubator Program launched in June 2024, and Pyse was selected as one of the first projects to receive support and mentorship to build robust RWA-focused applications on MANTRA's blockchain infrastructure. Pyse first revealed the MANTRA pink bike in October at Binance Blockchain Week in Dubai.
Find out more about MANTRA's Incubator Program by following x.com/mantra_chain and Pyse's sustainability mission and delivery fleet rollout at x.com/PyseEarth.
About Pyse:Pyse is a leading clean and green asset financing platform that facilitates the transition to sustainable energy and mobility for businesses in UAE and India. By focusing on renewable energy and electric vehicle (EV) fleet financing, Pyse employs a unique fractional ownership model that enables capital raising for green real-world assets, effectively offsetting over 20 million kilograms of CO2 annually.
About MANTRA:MANTRA is a purpose-built Layer 1 blockchain for real-world assets, capable of adherence to real-world regulatory requirements. As a permissionless chain, MANTRA Chain empowers developers and institutions to seamlessly participate in the evolving RWA tokenization space by offering advanced technology modules, compliance mechanisms, and cross-chain interoperability.
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