Quick take:
- Libre now wants to tokenise $500 million worth of Telegram debt on the TON network.
- The Teleram Bond Fund offers accredited investors exposure to the $2.35 billion of outstanding bonds issued by Telegram.
- Investors also gain access to institutional-grade yield products that can be used as collateral for on-chain borrowing and product development on TON.
Libre, the on-chain tokenisation firm plans to tokenise $500 million of Telegram debt on the TON Network. This is not Libre’s first tokenised fund, with the firm having worked with the likes of BlackRock, Brevan Howard, Hamilton Lane and Laser Digital to tokenise more than $200 million in assets offered across multiple networks including Injective, NEAR, Solana and Ethereum.
The Telegram Bond Fund (TBF) offers investors exposure to about $2.4 billion of outstanding bonds issued by Telegram. The fund also offers access to institutional-grade yield products that can be used as collateral for on-chain borrowing and product development on TON.
Commenting on the announcement, Libre CEO Avtar Sehra said in an interview: “What we’ve created is like a fixed income fund that acquires the bonds and then we tokenize the fund. When you purchase units in the fund these are on the TON chain, giving you access to the returns of the underlying bonds themselves. This opens up opportunities to use the bonds for collateral, ease of transfers, etc, to ultimately create utility with these financial instruments.”
The announcement comes amid the growing interest in real-world asset tokenisation with the value of tokenised assets surpassing $18.9 billion, up from about $10 billion last April, according to data from the tokenised RWA tracking platform RWA.xyz.
Max Crown, TON Foundation CEO and MoonPay co-founder commented: “The launch of the Telegram Bond Fund marks a major step forward in bringing regulated real-world assets to TON’s ecosystem.”
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