Libeara and FundBridge Team Up for Delta Wellington Ultra Short Treasury On-Chain Fund 🚀
Libeara and FundBridge Capital have partnered to launch the Delta Wellington Ultra Short Treasury On-Chain Fund, leveraging blockchain technology to enhance the management of U.S. Treasury funds. This innovative approach offers increased efficiency and transparency. In this overview, discover the key features and implications of this collaboration.
Revolutionary Tokenization for U.S. Treasury Funds 💡
Libeara, a frontrunner in real asset tokenization supported by SC Ventures, which is the fintech investment segment of Standard Chartered, announced an important partnership with FundBridge Capital. This collaboration involves the launch of the Delta Wellington Ultra Short Treasury On-Chain Fund, or “ULTRA Fund.”
This fund is structured to manage U.S. Treasury assets with the support of Wellington Management Singapore Pte. Ltd., which serves as a sub-manager. By combining the tokenization capabilities of Libeara’s Delta platform and Wellington Management’s asset management expertise, the partnership aims to deliver contemporary investment solutions tailor-made for the Web3 community.
The ULTRA Fund operates under the Delta Master Trust framework, established by FundBridge to facilitate subscription, issuance, transfer, and redemption of the fund’s tokenized units. Investors will have access to this fund in both USDC and fiat currencies, and it is set to debut on the Ethereum Mainnet.
Supported by distributed ledger technology, the platform guarantees that investors enjoy a secure and seamless experience, with high transparency and traceability of investment activities, including subscriptions, redemptions, and transfers. Additionally, the tokenized units are expected to expand to other blockchain platforms including Arbitrum, Avalanche, and Solana.
Aaron Gwak, the founder and CEO of Libeara, remarked:
“This collaboration with FundBridge Capital for the ULTRA Fund signifies a substantial advancement in our tokenization ecosystem. This new fund, inspired by the Delta Fund SGD—the inaugural tokenized fund to receive an Aa rating from Moody’s—imparts institutional credibility to U.S. dollar-denominated investments.”
New Interaction Methods Enabled by Blockchain 🌐
Gwak emphasized the transformative impact of tokenization on asset mobility, granting investors novel ways to interact with their investments. Notably, fund units can be utilized as collateral, facilitated by blockchain technology and smart contracts. This innovation automates intricate processes like collateralization and ensures efficient ownership transfers when required.
“Through this partnership, we strengthen our dedication to providing a secure and scalable infrastructure that adapts to the requirements of issuers and investors in the evolving digital landscape,” he added.
The Delta Wellington Ultra Short Treasury On-Chain Fund has garnered positive feedback from the Web3 community, witnessing early interest from stablecoin issuers, exchanges, and decentralized autonomous organizations (DAOs). Among the pioneers engaging with this blockchain solution are Mountain Protocol, Drift, and Ondo Finance, the latter facilitating same-day redemptions for the fund’s tokenized units.
Mark Garabedian, the director of digital assets and tokenization for Wellington Management, expressed:
“Tokenization introduces a new frontier in asset management. We’re thrilled to navigate this path alongside Libeara, FundBridge, and Standard Chartered, serving as the custodian in this ground-breaking initiative. Thanks to blockchain, FundBridge can provide optimized accessibility and superior operational efficiency, which aligns with Wellington’s objectives of delivering innovative and cutting-edge investment solutions.”
Aiming for Institutional Growth in the Crypto Sector 🌱
Martin Carrica, CEO and co-founder of Mountain Protocol, further elaborated:
“By engaging with the Delta Wellington Ultra Short Treasury On-Chain Fund, we’re leveraging a fully on-chain solution for short-term treasury investments that align with our commitment to ultra-safe options while boosting transparency for our users. This fund, paired with strong partnerships among sponsoring entities, illustrates promising operational efficiency and progress toward institutionalizing the crypto space.”
This partnership highlights a pivotal achievement in the integration of tokenization within traditional financial landscapes. It showcases the potential for blockchain technology to enhance operational efficacy, offering an improved experience for investors.
Margaret Harwood-Jones, Global Head of Financing and Securities Services at Standard Chartered, has also shared her insights:
“We remain committed to assisting clients in the digital asset ecosystem through our custody and banking services at Standard Chartered. Collaborating with Libeara and other SC Ventures entities allows us to promote innovation and foster growth in digital asset management.”
As these organizations continue to innovate, the landscape of asset management is poised for transformative changes, especially as the demand for transparency, efficiency, and safety in investments grows.
For useful sources regarding this collaboration, refer to the following:
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