KEY TAKEAWAYS
- MANTRA partners with Pyse to finance electric motorcycles for logistics in the UAE, starting deliveries in Dubai this December.
- Pyse plans to tokenize over 10,000 electric motorcycles on MANTRA Chain by 2025, enhancing last-mile delivery and sustainability.
- The partnership supports Dubai’s sustainability goals by making electric motorcycle leasing accessible to retail audiences.
- MANTRA Incubator Program fosters innovative green technology solutions, with Pyse as a key participant.
MANTRA has announced a strategic partnership with Pyse, a sustainability-driven real-world asset (RWA) platform, to finance the deployment of electric motorcycles for logistics and delivery services across the United Arab Emirates (UAE). This collaboration will commence with the initial deliveries of the distinctive pink electric vehicles (EVs) in Dubai starting this December. The announcement was made here.
Earlier this year, MANTRA selected Pyse as a key member of the MANTRA Incubator program, reflecting 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, aiming to revolutionize last-mile delivery while contributing to environmental sustainability.
Tokenizing Electric Mobility
Kaustubh Padakannaya, Co-founder of Pyse, highlighted the potential impact of this initiative on Dubai’s logistics and food delivery sector. He stated that the partnership with MANTRA allows for the tokenization of electric motorcycle leasing, making them accessible to retail audiences. This initiative aligns with Dubai’s sustainability goals while providing affordable mobility solutions.
Pyse’s approach goes beyond traditional models by enabling individuals to offset their carbon footprint and earn returns through direct investments in green assets such as electric mobility and renewable energy. The MANTRA pink bike was unveiled in October during Binance Blockchain Week in Dubai.
Advancing Sustainability Goals
John Patrick Mullin, CEO and Co-Founder of MANTRA, commented on the partnership, noting that as the demand for eco-friendly delivery solutions in the region rises, this collaboration positions MANTRA Chain and Pyse at the forefront of bringing quality and purposeful RWAs onchain. 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, included Pyse in its inaugural cohort alongside two other projects in real estate and finance. These projects received support and mentorship to develop robust decentralized applications on MANTRA’s infrastructure.
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