Libre, the on-chain infrastructure for regulated Real-World Assets (RWAs), and TON Foundation, the non-profit supporting The Open Network blockchain, will launch a tokenized Telegram Bond Fund (TBF) on TON Blockchain to tokenize $500 million worth of Telegram Bonds.
According to the press release shared with Cryptonews, the new fund will provide compliant, on-chain exposure to approximately $2.35 billion outstanding bonds that Telegram has issued.
This move will allow institutional and accredited investors within the TON ecosystem to access “institutional-grade yield products in a DeFi native format,” the team says.
These investors will be able to utilize TBF as collateral for on-chain borrowing and in the development of on-chain yield-bearing products on TON. Furthermore, per the announcement, “the $500 million tokenized $TBF issued on TON Blockchain also plans to access future bond issuances by Telegram.”
The team behind it claims that the Telegram Bond Fund is one of the largest institutional RWA deployments so far.
TON “expands the reach of regulated RWAs to a global and digitally native user base,” says Jez Mohideen, Chairman of Libre and CEO of Nomura’s crypto arm Laser Digital.
“This collaboration brings together omni-chain institutional-grade infrastructure and mass-market blockchain usability, with sought-after TradFi assets that have a strong crypto alignment. [It will deliver] tokenized financial products that combine compliance with composability, unlocking real utility for both institutions and the TON community,” Mohideen states.
Meanwhile, Libre and TON Foundation say they will keep developing regulatory and legally compliant integrations of RWAs in the TON ecosystem.
Ton Foundation Meets Libre Gateway Infra
The announcement highlighted another move by Libre. It will deploy its multi-phase Libre Gateway infrastructure on TON as part of the collaboration.
The infrastructure will support compliant subscriptions, redemptions, and transferability of tokenized funds.
Furthermore, institutional and accredited investors will be able to subscribe to RWAs using fiat or stablecoins. The move will also enable them to manage their assets through TON-native wallets.
Meanwhile, Libre explains that it is a purpose-built, Layer-1 AppChain for RWA infrastructure, which works by transforming RWAs into composable and compliant DeFi building blocks. Also, the Libre Gateway connects asset managers and digital distribution channels through on-chain subscriptions, redemptions, and cross-chain allocations.
So far, Libre says it has tokenized over $200 million in assets across funds from institutions such as BlackRock, Brevan Howard, Hamilton Lane, and Laser Digital. Notably, users will be able to access these funds too, in addition to the TBF.
“The launch of the Libre Protocol and the Telegram Bond Fund marks a major step forward in bringing regulated real-world assets to the TON ecosystem,” commented TON Foundation CEO Max Crown. “Libre’s infrastructure bridges the gap between compliance and decentralization, unlocking powerful new opportunities for TON’s community to engage with RWAs in a secure and accessible way.”
Meanwhile, at the time of writing, TON trades at $3.22. It’s down 1.7% in a day, 18% in a month, and 40% in a year. It is up 12.5% in a week.
Also, TON hit its all-time high of $8.25 in June 2024, decreasing by 60.9% since then.
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