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Singapore, November 1, 2024 – In a significant move bridging traditional finance and blockchain technology, Libeara, a prominent real-world asset (RWA) tokenisation platform supported by SC Ventures, has announced a strategic partnership with FundBridge Capital. This collaboration aims to introduce the Delta Wellington Ultra Short Treasury On-Chain Fund (“ULTRA Fund”), with Wellington Management Singapore Pte. Ltd. stepping in as the sub-manager.
The ULTRA Fund represents a cutting-edge blend of Libeara’s Delta platform and Wellington’s esteemed asset management expertise. This synergy is designed to deliver next-generation fund management solutions tailored specifically for the Web3 community. By leveraging Libeara’s advanced tokenisation system, the ULTRA Fund facilitates seamless subscription, issuance, transfer, and redemption of tokenised units, initially deployed on the Ethereum Mainnet and soon expanding to Arbitrum, Avalanche, and Solana networks.
Aaron Gwak, Founder and CEO of Libeara, highlighted the significance of this partnership, stating, “Our collaboration with FundBridge Capital on the ULTRA Fund is a pivotal step in expanding our tokenisation ecosystem. Following the successful launch of our SGD Delta Fund, which achieved a Moody’s Aa rating, we are now bringing the same level of institutional credibility to USD-denominated investments.”
The ULTRA Fund operates under the Delta Master Trust structure established by FundBridge, integrated with Libeara’s institutional-grade platform. This integration ensures enhanced transparency, auditability, and efficiency for investors, offering both USDC and fiat accessibility. The fund has already garnered interest from key players in the Web3 space, including stablecoin issuers, exchanges, and decentralized autonomous organizations (DAOs) such as Mountain Protocol, Drift, and Ondo Finance.
Mark Garabedian, Director of Digital Assets and Tokenization at Wellington Management, expressed enthusiasm about the initiative, saying, “Tokenisation is paving the way for a new era in asset management. Our collaboration with Libeara and FundBridge, supported by Standard Chartered Bank as custodian, enables us to deliver enhanced access and operational efficiencies, aligning with our commitment to innovative investment solutions.”
Martin Carrica, CEO and Co-Founder of Mountain Protocol, added, “Participating in the ULTRA Fund provides us with exposure to a fully on-chain short-term treasury solution that aligns with our ultra-safe investment mandate. This partnership not only enhances transparency for our users but also represents a forward step in institutionalizing crypto assets.”
This partnership marks a pivotal moment in the integration of tokenisation within traditional financial markets. By harnessing blockchain and smart contract technology, Libeara and FundBridge are set to revolutionize asset mobility and investment flexibility, offering investors new ways to interact with their portfolios.
Margaret Harwood-Jones, Standard Chartered’s Global Head of Financing and Securities Services, concluded, “Our collaboration with Libeara and FundBridge underscores our commitment to supporting the digital asset ecosystem. Together, we aim to foster innovation and drive growth across the digital landscape.”
For more information on Libeara, visit www.libeara.com.
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