Standard Chartered launches asset tokenization platform Libeara

The new blockchain platform named “Libeara” could assistance raise Standard Chartered’s presence in the Asian digital asset room.

Standard Chartered launches asset tokenization platform Libeara

Second Nikkei Asiainvestment arm SC Ventures owned by British banking giant Standard Chartered has just launched a blockchain platform aimed at tokenizing regular money instruments, hence strengthening its huge digital asset presence in Asia.

Called “Libara”, the platform is a technologies support supplier that assists organizations in digitizing money instruments on the blockchain this kind of as the infrastructure that supports cryptocurrencies. Through Libeara, customers of the support will lower transaction intermediaries, assisting to increase efficiency and lower fees of getting/marketing digital assets.

Standard Chartered’s venture arm has launched a new blockchain unit set to raise its presence in the Asian digital assets room.https://t.co/sC7nGlj9Nq

— Nikkei Asia (@NikkeiAsia) November 14, 2023

According to the unique program, Libeara will spouse with FundBridge Capital, a Singapore-primarily based fund platform answers corporation, to develop Singapore’s to start with tokenized government bond fund for expert traders.

Libeara will assistance FundBridge customers subscribe to and redeem tokenized units in the Singapore Government Bond Fund. The fund’s shares will be represented as tokens on a distributed ledger or blockchain technologies operated by Standard Chartered.

A representative from Standard Chartered Bank mentioned that Libeara not only assists develop tokenized money instruments, but is also a platform that supports numerous options this kind of as:

• Fund managers can leverage the Libeara platform to immediately challenge tokenized fund shares to traders in any denomination
• Investors will be capable to immediately subscribe to government-issued tokenized bonds, or retail outlet and control their tokens in digital wallets, as nicely as redeem and transfer their tokens applying public token blockchain technologies.
• Central banking institutions and government treasuries can immediately challenge tokenized bonds

In addition to Libeara it also owns the British banking “giant”. Zodia Custody, a cryptocurrency brokerage and support supplier for institutional customers. Last September 2023, Zodia Custody just launched Yield and Staking crypto providers, enabling corporate customers to make revenue by holding cryptocurrencies.

In early 2023, Zodia Custody also announced the formation of a joint venture with SBI Digital Asset Holdings to launch a custody business enterprise in Japan, focusing on institutional customers.

This is not the to start with blend of cryptocurrencies with Real World Assets (RWA). The primary DeFi undertaking on Ethereum, Maker, has lengthy been recognized to invest its stablecoin DAI assets in US stocks. Or far more not too long ago, JPMorgan launched an automated payment process primarily based on JPM Coin.

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