Standard Chartered’s Singapore-based platform for tokenizing traditional financial assets is called Libeara and has been registered with the Monetary Authority of Singapore (MAS) as a separate company. Libeara’s business partners are Fireblocks, Chainalysis, Chekk and Fazz.
“This will be the first time that a government bond fund’s Singapore dollar assets will be offered to investors in a token format. Regulated tokens will be issued on the public blockchains of Stellar and Ethereum. We intend to actively work with international rating agencies to obtain our own rating,” said Libeara founder and CEO Aaron Gwak.
Gwak noted that the partnership with FundBridge Capital, Singapore’s MAS-regulated fund platform, will create a tokenized Singapore dollar government bond fund for accredited investors, enhancing the trust and structural integrity of securities portfolios.
Previously, Standard Chartered Bank took part in the Singapore Monetary Authority’s Project Guardian initiative to develop crypto-ecosystem standards and protocols for the use of digital assets.
Source: Bits
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