WebN Group and Laser Digital Unveil Libre: An Institutional Web3 Protocol Powered by Polygon Technology
WebN Group and Laser Digital have introduced Libre, a web3 protocol for institutions that leverages Polygon technology. Laser Digital is the crypto division of financial services company Nomura, while WebN Group is an incubation hub for fintech and web3 innovators, supported by Laser Digital and Brevan Howard co-founder Alan Howard. Libre utilizes asset tokenization and smart contracts to facilitate the compliant issuance and management of alternative investments. The protocol is built on the Polygon Chain Development Kit (CDK), which enables the creation of purpose-built Layer 2 blockchains on Ethereum using zero knowledge technology.
“We are thrilled to see Libre select Polygon CDK’s scalability and security to revolutionize the alternative investments space,” said Polygon founder Sandeep Nailwal. “Libre demonstrates the immense potential of blockchain technology to unlock new opportunities for investors globally.”
Libre Founder Dr. Avtar Sehra’s Vision
Dr. Avtar Sehra, founder of Libre, has been working on real-world asset tokenization since 2014, initially on Bitcoin and later Ethereum. He previously established Nivaura, a UK FCA-licensed tokenization platform. In addition to primary issuance services and distributor integrations, Libre’s future product roadmap includes collateralized lending and automated portfolio rebalancing. Sehra envisions building the future of wealth APIs through these developments.
Brevan Howard and Hamilton Lane Set to Use Libre
Libre is set to go live in Q1 2024, with investment management firms Brevan Howard and Hamilton Lane being the first issuers to utilize the platform. There is growing industry interest in leveraging blockchain technology to enhance the distribution and accessibility of alternative asset funds. Hamilton Lane Head of Digital Assets Victor Jung believes tokenization has the potential to revolutionize investment management and trading, while Brevan Howard Head of Strategy Natalie Smith states that tokenizing funds offers investors new ways to access strategies and develops platforms to cater to client needs.
Increasing Interest in Fund Tokenization
Libre is not the only project focused on fund tokenization. JPMorgan’s Onyx recently collaborated with WisdomTree, Apollo, and other industry players on a proof-of-concept for investment portfolio management using blockchain interoperability. SC Ventures, the investment and innovation arm of Standard Chartered, also launched a tokenization platform called Libeara. SGD Delta Fund, a tokenized Singapore-dollar government bond fund, became the first fund to use Libeara and received an AA rating from Moody’s.
Hot Take: The Future of Alternative Investments
The launch of Libre marks an important milestone in the evolution of alternative investments. By leveraging Polygon technology, Libre offers a regulatory-compliant solution for asset tokenization and management. This not only opens up new opportunities for investors worldwide but also streamlines processes such as collateralized lending and portfolio rebalancing. With major players like Brevan Howard and Hamilton Lane already onboard, it’s clear that the industry recognizes the potential of blockchain technology to transform how alternative asset funds are distributed and accessed. As more projects like Libre emerge and gain traction, we can expect further advancements in the tokenization of funds and increased innovation within the financial sector.
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