Finance, Tokenization, Telegram, TON, News Libre’s Telegram Bond Fund ($TBF) will supply accredited buyers institutional-grade yield merchandise that will even be out there as collateral for on-chain borrowing and product improvement on TON,
Libre, a tokenization agency that works carefully with the likes of hedge fund Brevan Howard, funding administration agency Hamilton Lane and Nomura’s digital belongings unit Laser Digital, plans to tokenize $500 million price of Telegram debt because the blockchain-based Telegram Bond Fund (TBF) on the TON community that is linked to the messaging platform.
TBF will supply accredited buyers publicity to a number of the round $2.4 billion of outstanding bonds issued by Telegram, offering institutional-grade yield merchandise that will even be out there as collateral for on-chain borrowing and product improvement on TON, Libre stated.
“What we’ve created is like a fixed income fund that acquires the bonds and then we tokenize the fund,” Libre CEO Avtar Sehra in an interview. “When you purchase units in the fund these are on the TON chain, giving you access to the returns of the underlying bonds themselves. This opens up opportunities to use the bonds for collateral, ease of transfers, etc, to ultimately create utility with these financial instruments.”
The previous yr or two has seen a rush to create blockchain-based representations of real world assets (RWAs), bringing the standard finance world quickly inside the ambit of crypto and decentralized finance (DeFi).
Sehra stated lots of his prospects need both tokenized cash market merchandise as a result of they’re searching for fast entry to money, or one thing that’s related to an ecosystem they’re concerned in or work inside.
The TON community was initially developed by Telegram earlier than persevering with as an unbiased operation. Over the final yr or so, TON has been focused on bringing a big swathe of Telegram’s 950 million-plus customers on-chain.
Libre has already tokenized over $200 million in belongings throughout funds from main establishments together with BlackRock, Brevan Howard, Hamilton Lane, and Laser Digital.
“Our objective isn’t just to tokenize things for the sake of tokenizing them,” Sehra stated. “I think the real value in tokenizing traditional financial instruments is unlocking the utility of those assets.”
CoinDesk: Bitcoin, Ethereum, Crypto News and Price Data Read More