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Telegram's Massive Bond Will Provide $500 Million Flow to This Altcoin! - Coin Bulletin
Libre aims to tokenize Telegram's $500 million bond and make it available to institutional investors on the TON blockchain.
Telegram's issued corporate bonds are becoming more accessible to investors through blockchain technology. The Libre platform, which tokenizes real-world assets (RWAs) by converting real-world assets into digital assets using blockchain technology, will tokenize 500 million dollars of Telegram's corporate bonds, which have a total value of approximately 2.35 billion dollars, on The Open Network (TON).
Through the Telegram Bond Fund (TBF) to be implemented by Libre, qualified institutional investors will be able to invest directly in Telegram's bonds via blockchain. Investors can also use these tokenized bonds as collateral in the TON decentralized finance (DeFi) ecosystem, thus gaining access to interest-bearing products and performing transactions such as borrowing or lending.
Libre CEO Avtar Sehra stated in a statement that TBF is defined as a fixed income fund that purchases bonds and then tokenizes these funds. Sehra emphasized that this tokenization provides investors direct access to the returns of the bonds and can also be used as collateral.
New Opportunities for Institutional Investors
Libre has previously tokenized over $200 million in assets under the management of major financial companies such as BlackRock, Brevan Howard, Hamilton Lane and Laser Digital on various blockchain networks such as Injective, NEAR, Solana and Ethereum's Layer 2 solutions. Jez Mohideen, Chairman of the Board of Directors of Libre, announced that they will move these funds to the TON network in the future.
The platform also plans to offer the opportunity to invest in real-world assets through stablecoins and traditional currencies via TON wallets thanks to its developed "Gateway" system. Max Crown, CEO of TON Foundation and co-founder of MoonPay, emphasized that this move is an important step in bringing regulated real-world assets to the TON ecosystem.
The TON network was originally developed by Telegram and continues to operate as an independent operation. Recently, TON aims to bring Telegram's monthly active more than 950 million users together with blockchain technology.