1 week ago
The Open Network (TON) Foundation has partnered with Libre, a decentralized infrastructure steadfast specializing successful real-world assets (RWAs), to present a $500 cardinal tokenized enslaved money tied to Telegram.
An April 30 statement stated that the Telegram Bond Fund (TBF) volition connection blockchain-based entree to institutional-grade output opportunities.
The TBF signals TON’s authoritative introduction into the increasing RWA sector and aligns it with different salient networks that support real-world plus tokenization.
Telegram Bond Fund
The TBF brings a information of Telegram’s $2.35 cardinal outstanding bonds onto the TON blockchain, allowing organization and accredited investors to prosecute with accepted fiscal products done a decentralized format.
The money aims to enactment Telegram’s existent and aboriginal enslaved offerings, offering compliant on-chain vulnerability done a trusted RWA platform.
Libre stated that its infrastructure allows investors to usage the tokenized bonds arsenic collateral wrong the DeFi ecosystem. It besides allows developers connected TON to physique caller yield-bearing products backed by these assets.
Max Crown, CEO of TON Foundation, said:
“Libre’s infrastructure bridges the spread betwixt compliance and decentralization, unlocking almighty caller opportunities for TON’s assemblage to prosecute with RWAs successful a unafraid and accessible way.”
Libre gateway system
Meanwhile, Libre plans to rotation retired a multi-phase Gateway strategy connected TON.
This infrastructure volition negociate subscriptions, redemptions, and the transportation of tokenized funds portion staying wrong regulatory bounds. Investors tin subscribe utilizing fiat oregon stablecoins and negociate their portfolios straight done TON-native wallets.
Jez Mohideen, Chairman of Libre, explained that the firm’s determination is based connected the information that TON offers a unsocial accidental to span TradFi and DeFi [while expanding] the scope of regulated RWAs to a planetary and digitally autochthonal idiosyncratic base.
He added:
“This collaboration brings unneurotic omni-chain institutional-grade infrastructure and mass-market blockchain usability, with sought-after TradFi assets that person a beardown crypto alignment.”
Libre has already tokenized implicit $200 cardinal successful assets and offers respective unrecorded products from large issuers.
Data from RWA.xyz shows that Libre’s UMA fund, which invests successful BlackRock’s ICS US Dollar Liquidity Fund, holds $21.8 million. Other funds, including BHMA and HLSPCA, person $7.2 cardinal and $7 million, respectively.
The station Ton Foundation launches $500M Telegram RWA enslaved money with Libre appeared archetypal connected CryptoSlate.
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