Will OM Price Hit $15 As Mantra Secures VASP License In Dubai?

Mantra Finance has secured a Virtual Asset Service Provider (VASP) license from Dubai’s Virtual Assets Regulatory Authority (VARA). In response to this significant milestone, the OM price has seen a notable uptick. Driven by this development, analysts remain bullish on OM’s future growth prospects.

Notably, this move enables Mantra to expand its operations to the UAE and MENA region as a licensed Virtual Asset Exchange.

OM Price Targets $15: Bullish Rebound on the Horizon?

Surprisingly, Mantra’s OM token is exhibiting a bullish rebound, surging by nearly 100% in a month. While Bitcoin is still trading below the $100k level, the OM price is eyeing notable gains.

In a recent X post, market expert Rachel Crypto predicted that the OM price would hit $15 in the near future. While Rachel Crypto asserts that the token is breaking out, many analysts have corroborated her remarks.

Analysts are increasingly bullish on OM’s price prospects. For instance, KCM predicts a modest yet promising target of $8.5. Meanwhile, Dexter takes a more optimistic stance, eyeing $10 as the token’s next milestone. However, Jane Bennet offers the most aggressive forecast, envisioning OM reaching a critical juncture at $20.

Mantra Finance Secures VASP License in Dubai

Notably, the OM price’s current uptrend and potential movements are triggered by Mantra Finance’s recent acquisition of the VASP license in Dubai. Reportedly, Mantra obtained a Virtual Asset Service Provider (VASP) license from Dubai’s Virtual Assets Regulatory Authority (VARA).

Significantly, the license will enhance the platform’s global reach, enabling the launch of innovative financial products. It also facilitates the expansion of Mantra’s Middle Eastern operations, particularly in tokenizing real-world assets (RWAs).

Commenting on the milestone, Mantra CEO Patrick Mullin stated,

By establishing the most timely, comprehensive and built from-the-ground-up framework for virtual assets and Web3, Dubai and VARA have become world leaders in crypto regulation. This license was a crucial step for MANTRA and a key step in our journey towards global expansion.

This development follows crypto exchange Bitget’s recent acquisition of the VASP license from Bulgaria’s National Revenue Agency.

Bullish Frenzy: Will OM Join the Crypto Top 10?

As of press time, the OM token is trading at $7.52, up by 1.21%. On a weekly and monthly basis, the OM price has registered significant hikes of 30.5% and 100.5%, respectively. As per OM price prediction, the token has the potential to reach an impressive $10.10 in 2025.

Boasting a market cap of $7.38 billion, OM is ranked 22^nd on CoinMarketCap. The current bullish momentum has strengthened analysts’ positive perspectives surrounding the token. Analysts like Bitt Belle maintain that OM is on track to enter the top 10 cryptocurrencies list.

Moreover, the 24-hour trading volume of $382 million, representing a 31% increase, serves as a clear indicator of the escalating investor sentiment. The prevailing upward momentum and growing market activity highlight the OM price’s possible market upswing.