Libre aims to tokenize Telegram's $500 million bond and offer it to institutional investors on the TON blockchain.
The corporate bonds issued by Telegram are becoming more accessible to investors by integrating with blockchain technology. The Libre platform, which tokenizes real-world assets (RWAs) into digital assets using blockchain technology, will tokenize $500 million of Telegram corporate bonds valued at approximately $2.35 billion on The Open Network (TON).
Through the Telegram Bond Fund (TBF) to be implemented by Libre, qualified institutional investors will be able to invest directly in Telegram's bonds via blockchain. Investors can also use these tokenized bonds as collateral in TON's decentralized finance (DeFi) ecosystem, thereby accessing interest-bearing products and engaging in lending or borrowing transactions.
Libre CEO Avtar Sehra described TBF as a fixed-income fund that purchases bonds and then tokenizes these funds. Sehra emphasized that this tokenization provides investors direct access to the returns of the bonds and can also be used as collateral.
New opportunities for institutional investors
Libre had previously tokenized over $200 million in assets managed by major financial companies like BlackRock, Brevan Howard, Hamilton Lane, and Laser Digital across various blockchain networks such as Injective, NEAR, Solana, and Ethereum’s Layer 2 solutions. Libre's Chairman Jez Mohideen announced that they will transfer these funds to the TON network in the future.
Additionally, the platform plans to offer investment opportunities in real-world assets through stablecoins and traditional currencies via TON wallets, thanks to the 'Gateway' system it has developed. Max Crown, CEO of TON Foundation and co-founder of MoonPay, emphasized that this move is an important step in bringing regulated real-world assets to the TON ecosystem.
The TON network, initially developed by Telegram, continues on its path as an independent operation. Recently, TON aims to connect over 950 million monthly active users of Telegram with blockchain technology.