Libre and TON launch $500M Telegram Bond Fund on blockchain

Libre and the TON Foundation have partnered to launch a new investment product called the Telegram Bond Fund ($TBF). This fund brings $500 million worth of Telegram’s real-world bonds onto the TON Blockchain in the form of digital tokens. It’s designed to bring traditional finance into the world of decentralized technology.

Telegram, the popular messaging app, had earlier raised about $2.35 billion by selling bonds. Now, a portion of those bonds will be made available to professional investors as digital assets on the blockchain. These investors must be institutional or accredited, meaning they are legally approved to invest in financial products like bonds.

This tokenized bond fund, $TBF, is meant for qualified investors who want exposure to Telegram’s bonds in a more modern and flexible format. It allows them to buy, store, and use these digital bond tokens using the TON network.

The technical and legal aspects of this fund are managed by Libre, as stated by the TON Foundation. Libre leverages its platform, Libre Gateway, to ensure the process is seamless and fully compliant with financial regulations. Built on the Polygon CDK, Libre Gateway is trusted by major finance firms, including BlackRock and Brevan Howard.

Investors can now use the Libre Gateway to acquire $TBF with either fiat currency or stablecoins, securely storing them in wallets on the TON blockchain. These tokens offer practical uses: securing loans or investing in DeFi products to earn interest, thus providing tangible value.

Check out: TON Foundation introduces bold new governance model, Society DAO

This venture showcases the integration of traditional financial instruments, such as bonds, within blockchain frameworks, particularly in the Real World Asset (RWA) sector. It is a significant effort to combine the trustworthiness of conventional finance with the seamless efficiency of blockchain technology.

Max Crown, the CEO of the TON Foundation, regards this collaboration as a pivotal advancement, highlighting how Libre’s tools pave the way for secure, compliant investments within the TON network in an accessible manner.

Having already amassed experience in this niche, Libre has successfully transitioned over $200 million worth of traditional assets onto blockchains, partnering with key players like Hamilton Lane and Laser Digital. These established investments will join the TON platform, alongside the newly launched Telegram Bond Fund.

Dr. Jez Mohideen, Chairman of Libre and CEO of Laser Digital (part of Nomura), views this partnership as an ideal demonstration of how traditional finance (TradFi) and decentralized finance (DeFi) can collaborate. He believes the TON blockchain is the perfect platform to deliver high-quality financial products to a broader digital audience.