Standard Chartered’s SC Ventures Launches Tokenization Platform Libeara
SC Ventures, the investment and innovation arm of Standard Chartered bank, has introduced a new tokenization platform called Libeara. Based in Singapore, Libeara was incubated as a separate company and has previously participated in proof-of-concept projects, including the Monetary Authority of Singapore’s Global Retail CBDC Challenge and digital platform prototypes for various governments.
Alex Manson, head of SC Ventures, expressed excitement about the new venture, stating that tokenization will make various asset classes more accessible. With institutional grade custody and exchange of digital assets already in place through Zodia Custody and Zodia Markets, Libeara is positioned to better serve customers.
Leadership and Partnerships
Libeara is led by Aaron Gwak, founder and CEO, who brings over 16 years of experience from Standard Chartered group. The new venture aims to facilitate the on-chain presence of real-world assets and issue “regulated security tokens.” Notable partners include Fireblocks for custody, Chainalysis and Chekk for compliance, and Fazz via StraitsX for convenient conversion between stablecoins and fiat.
Tokenised Singapore-dollar Government Bond Fund
Libeara has teamed up with FundBridge Capital to create a tokenized Singapore-dollar government bond fund for accredited investors. This initiative marks the first time such a fund will be offered in token format. To enhance credibility and structural integrity, an international credit rating agency will review both the underlying asset quality of the fund’s components and the token structure.
Emerging Trends in Tokenization
Tokenization is gaining traction in the crypto space, with major players like HSBC Holdings launching platforms to tokenize physical gold ownership and UBS Asset Management piloting a tokenized money market fund on Ethereum. Additionally, Citi has introduced Token Services to tokenize clients’ deposits for instant global transfers.
Hot Take: Embracing Tokenization for Asset Accessibility
The launch of Libeara by SC Ventures represents a significant step towards making various asset classes more widely available through tokenization. By partnering with key players in custody, compliance, and conversion services, Libeara aims to provide a seamless experience for bringing real-world assets on-chain. This move aligns with emerging trends in the financial industry as traditional institutions continue to embrace blockchain technology.
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