Libre Tokenizes $500M Telegram Debt on TON
Libre Tokenizes $500M of Telegram Debt on TON Blockchain
Libre, a leader in tokenizing real-world assets (RWAs), and the TON Foundation have announced a partnership to tokenize $500 million of Telegram's debt on the TON blockchain. This initiative, launched as the Telegram Bond Fund (TBF), represents one of the largest institutional RWA deployments on a blockchain to date.
Tokenized Bonds: Yield and Lending Opportunities
Professional investors can now purchase portions of Telegram's $2.4 billion bond issuance via tokenized bonds. These digital bond tokens offer investors bond yields and the ability to use the tokens as lending assets, potentially serving as collateral for other financial products and borrowing on TON.
According to Avtar Sehra from Libre, the fund operates on traditional fixed-income fund principles. Instead of directly purchasing bonds, the fund receives tokenized representations. Investors receive TON chain tokens reflecting their stake, increasing the bonds' transferability and utility.
Libre plans to add future Telegram bond offerings to the initial $500 million, suggesting significant growth potential. This initiative is a substantial step toward moving traditional financial assets onto blockchain platforms.
Bridging Traditional Finance and Blockchain
To facilitate this, Libre is developing the Libre Gateway on TON, allowing investors to subscribe using traditional currency or stablecoins. TON users can manage assets through designated wallet solutions. This aims to simplify both investment and security processes.
Max Crown, CEO of the TON Foundation, highlights the TBF launch as a crucial step in integrating blockchain technology with regulated financial assets. He emphasizes the benefits for the TON community, ensuring secure and user-friendly interactions with RWAs.
Strategic Partnerships and Industry Impact
Libre's previous collaborations include BlackRock, Brevan Howard, and Nomura's Laser Digital. The company currently manages over $200 million in tokenized assets, which, along with the TBF, will be accessible to TON users.
Dr. Jez Mohideen, Chairman of Libre and CEO of Laser Digital, notes TON's ability to bring traditional financial products into the decentralized finance (DeFi) space. This project combines institutional strength and blockchain technology, benefiting both TON users and professional investors.
In essence, this collaboration enables the management of regulated financial assets on a blockchain. The tokenization of Telegram bonds provides investors with innovative ways to manage their capital, opening new possibilities for financial institutions in the blockchain space.
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