Pyse and MANTRA Finance Secure VARA NOC for Shariah-Compliant Token Launch in Dubai

Pyse and MANTRA Finance: A Milestone in Dubai’s Financial Landscape

In a significant stride towards integrating digital assets into traditional finance, Pyse has announced the receipt of a Non-Objection Certificate (NOC) from the Virtual Assets Regulatory Authority (VARA) in Dubai. This development paves the way for the launch of PYSE Green Velocity 1, a token aimed at fractionalizing lease-based cash flows generated by electric motorcycles within Dubai's last-mile delivery sector. The initiative is set to revolutionize how investors engage with urban mobility assets, making significant inroads in a market characterized by rapid e-commerce growth.

A Product of Collaboration

The launch, scheduled for February 10, 2026, is the result of nearly a year of dedicated collaboration between Pyse, MANTRA Finance, and Shariah compliance advisors AmanX. This trio has worked meticulously to ensure the offering adheres to all regulatory standards while being Shariah compliant. This effort not only meets the expectations of regional investors but also complements Dubai's vision for a sustainable financial ecosystem.

Electric motorcycles are increasingly critical in urban settings like Dubai, serving as the backbone of logistics platforms, which include major players such as Noon and Talabat. These motorcycles enable faster deliveries at lower operating costs, addressing efficiency challenges associated with traditional delivery methods. The introduction of PYSE Green Velocity 1 aims to amplify these benefits by creating a vigorously regulated product that investors can confidently engage with.

The Urban Mobility Revolution

The burgeoning last-mile delivery market in Dubai, fueled by e-commerce expansion, presents a multi-billion dollar opportunity. The electric motorcycles financed through the PYSE Green Velocity 1 initiative are designed to generate cash flows that contribute to improved earnings for delivery personnel and logistics companies alike. This financial structure not only supports the riders and partners involved but also contributes to the broader electrification efforts in urban delivery systems.

Kaustubh Padakannaya, Co-Founder of Pyse, expressed optimism regarding the project, stating, "Structuring a Dubai-based asset as an offering directed toward local investors sends a strong message regarding the country’s future-focused initiatives in finance and technology. Our collaboration with VARA has been instrumental in navigating regulatory landscapes. We are excited to welcome Dubai's residents to join the expanding ten-minute economy."

Partnership and Compliance

John Patrick Mullin, CEO and Founder of MANTRA, echoed this sentiment, emphasizing their partnership in this groundbreaking venture. "We’re thrilled to collaborate with Pyse on the first on-chain tokenized asset issuance under MANTRA Finance’s VARA regulated platform," Mullin stated. "This example illustrates how MANTRA can leverage decentralized finance technology, joined with necessary compliance oversight, to present viable investment opportunities."

The investment tokens will be available for subscription to a mix of wealth managers, family offices, and private investors, aligning with the interests of those looking for sustainable, asset-backed financial products. The due-diligence process led by AmanX assures that the PYSE Green Velocity 1 is firmly rooted in Shariah principles, enhancing its appeal in the Middle Eastern markets.

Looking Ahead

As Dubai continues to evolve as a global financial hub, initiatives like the PYSE Green Velocity 1 serve as foundational steps toward an integrative financial environment that includes conventional and digital assets. VARA’s issuance of the NOC underscores a regulatory framework that appreciates the significance of tokenization in modern capital markets—showing a commitment to facilitating responsible financial innovation.

As the community awaits the launch, a waitlist for potential investors is already active on MANTRA Finance, hinting at a keen interest in this novel product. With limited allocations available, the countdown to the February 10th launch continues, positing PYSE Green Velocity 1 at the forefront of Dubai's future-first financial landscape.

In conclusion, Pyse and MANTRA's initiative represents not just a product launch but a step forward in redefining how traditional finance can intersect with innovative digital paradigms. By embracing technological advancement while adhering to regional financial norms, this collaboration sets a precedent in the World of finance, bridging gaps and creating sustainable investment avenues as we progress into an increasingly digital era.