SINGAPORE (November 16, 2023) – Standard Chartered’s innovation, fintech investment and ventures arm SC Ventures is set to launch Libeara, a tokenisation platform which will make investing in Singapore more accessible, transparent and secure for accredited investors.
Together with FundBridge Capital Pte. Ltd, Libeara’s platform will create the first tokenised Singapore dollar government bond fund, providing investors a seamless experience in onboarding, subscribing and redeeming units in a tokenised Singapore dollar government bond fund.
“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,” said Aaron Gwak, founder and CEO of Libeara. “To boost credibility and structural integrity, the fund will be working with an international credit rating agency to have it rated — a first in the world. The agency will be reviewing both the underlying asset quality of the components of the fund and the token structure as well.”
“The investment market has traditionally relied on heavily favoured intermediaries and inefficient operational processes. By partnering with Libeara to offer a tokenised Singapore Dollar Government Bond Fund for all our investors, we are ensuring that we can provide additional investment opportunities enabled by lower operating costs, higher transparency and higher operational efficiency,” added Sue Lynn Lim, CEO and COO, FundBridge Capital.
This tokenisation platform democratises investments through three business use cases:
- Tokenisation service for regulated fund partners – Regulated fund managers can leverage Libeara to issue tokenised fund units directly to their investors in any denomination. This service opens access to tokenised funds across a wide range of assets and jurisdictions.
- Token-native government bonds – Enables central banks and government treasuries to directly issue tokenised bonds. Investors will be able to directly subscribe to tokenised government-issued bonds and store and manage their tokens in secure digital wallets. Investors could easily redeem and transfer their tokens using blockchain technology, which provides immutable records of asset ownership.
- General purpose security token platform – Enables issuers to bring other real-world assets, securities, commodities, media and rights into the tokenisation space by using a general-purpose security token platform. These security tokens would be regulated investment assets that combine the advantages of digital assets with traditional security offerings.
Conceptualised and built by SC Ventures, the Libeara platform is backed by its in-depth knowledge of tokenisation technology and financial expertise, thus allowing customers a safe and efficient use of security tokens. The platform opens up a world of investing opportunities for digital assets natives and traditional investors who previously found it difficult to access such assets.
To provide top-notch functionalities on its platform, Libeara is leveraging the expertise of partners such as Fireblocks, Fazz, via StraitsX, Chainalysis, Chekk and Letsbloom.
“As we build an ecosystem of ventures and partners in the digital assets space, Libeara is an exciting new venture: tokenisation will make a number of asset classes more widely available,” said Alex Manson, who leads SC Ventures. “As we now have institutional grade custody and exchange of digital assets with Zodia Custody and Zodia Markets, Libeara is the next logical step to better serve our customers.”