A tokenisation platform by Standard Chartered’s venture arm SC Ventures will soon allow accredited investors to invest in tokenised Singapore-dollar government bond funds, according to a release dated Nov 14.
The platform, which is called Libeara, will work in partnership with FundBridge Capital, to provide its clientele with the onboarding, subscription and redemption of units in a tokenised Singapore-dollar government bond fund. Vistra will serve as the fund administrator.
Libeara, which is a technology platform, will leverage on the expertise of its partners, including Fireblocks, Chainalysis, Chekk, Letsbloom, and Fazz via StraitsX, for a mixture of technological, legal, and risk related competencies.
Libeara was a finalist in the Monetary Authority of Singapore’s (MAS) Global Retail CBDC Challenge, and part of digital platform prototypes used by the Hong Kong government, Ghana, and the Philippines. The company was formed following successful proof-of-concept projects in said cities, where it studied the need to correctly blend technology with existing securities regulations to provide the optimal structure for tokenholders.
The platform seeks to democratise investments through three use cases. Tokenisation service for regulated fund partners, token-native government bonds, and general purpose security token platform.
“This will be the first time a Singapore-dollar government bond fund will be offered in token format. At Libeara, we care deeply about not only creating a token representing an asset but also about how close the token is to the actual asset. Ensuring that FundBridge’s investors can buy native tokens, where each token represents a unit of the fund, is central to the infrastructure of the tokenisation solution that we have created for FundBridge,” says Aaron Gwak, founder and CEO of Libeara.
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“By partnering with Libeara, we are ensuring that we can provide additional investment opportunities enabled by lower operating costs, higher transparency and higher operational efficiency,” says Lim Sue Lynn, CEO and COO of FundBridge Capital.
