Real-World Assets Launch on TON Blockchain Through Libre’s $500 Million Tokenized Telegram Bond Fund

Libre, a company specializing in tokenization, is set to collaborate with prominent firms including Brevan Howard, Hamilton Lane, and Laser Digital, a digital assets division of Nomura, to convert $500 million of Telegram debt into tokens. This venture will be known as the Telegram Bond Fund (TBF) and will utilize the TON blockchain associated with the Telegram platform.

The Telegram Bond Fund will provide accredited investors the opportunity to invest in a segment of the $2.35 billion in bonds issued by Telegram. This initiative aims to create institutional-quality yield instruments that can also serve as collateral for borrowing within the TON ecosystem.

In a recent interview, Libre’s CEO Avtar Sehra explained, “Our creation resembles a fixed-income fund that purchases bonds, which we then tokenize.” He added that buying into the fund means accessing returns tied to the bonds. This structure enhances the utility of bonds through opportunities for collateral use and simplified transfers.

The last few years have witnessed a surge in creating blockchain-based proxies for real-world assets, swiftly integrating traditional finance into the realms of cryptocurrency and decentralized finance.

Sehra noted that many clients seek either tokenized money market options for fast cash liquidity or products tied to ecosystems they are part of or work within.

Originally designed by Telegram, the TON network now operates independently and has concentrated efforts over the past year to onboard a substantial portion of Telegram’s user base, which exceeds 950 million.

Libre has made significant strides, having already tokenized over $200 million in assets across various funds linked to major institutions such as BlackRock, Brevan Howard, Hamilton Lane, and Laser Digital.

Sehra emphasized that the company’s goal extends beyond mere tokenization. “The real value lies in facilitating practical applications for traditional financial assets through tokenization.”