The collaboration between the Open Network (TON) Foundation and Libre, a decentralized infrastructure firm specializing in real-world assets (RWAs), has led to the introduction of a groundbreaking $500 million tokenized bond fund tied to Telegram. This venture, known as the Telegram Bond Fund (TBF), aims to provide blockchain-based access to institutional-grade yield opportunities, marking TON’s official foray into the rapidly expanding RWA sector.
The TBF will bring a portion of Telegram’s $2.35 billion outstanding bonds onto the TON blockchain, enabling institutional and accredited investors to engage with traditional financial products in a decentralized format. By offering compliant on-chain exposure through a trusted RWA platform, the fund seeks to support Telegram’s current and future bond offerings.
Libre, in partnership with TON, will roll out a multi-phase Gateway system on the blockchain. This infrastructure will facilitate subscriptions, redemptions, and the transfer of tokenized funds while adhering to regulatory requirements. Investors will have the flexibility to subscribe using fiat or stablecoins and manage their portfolios directly through TON-native wallets.
Max Crown, CEO of TON Foundation, expressed enthusiasm for the partnership, stating that Libre’s infrastructure bridges the gap between compliance and decentralization, unlocking new opportunities for TON’s community to engage with RWAs securely and seamlessly. Jez Mohideen, Chairman of Libre, highlighted the unique opportunity presented by TON to merge traditional finance (TradFi) with decentralized finance (DeFi), expanding the reach of regulated RWAs to a global and digitally native user base.
Moreover, Libre has already tokenized over $200 million in assets and offers several live products from major issuers. Data from RWA.xyz reveals that Libre’s UMA fund, which invests in BlackRock’s ICS US Dollar Liquidity Fund, holds $21.8 million. Additionally, other funds such as BHMA and HLSPCA have $7.2 million and $7 million in assets, respectively.
This collaboration between TON and Libre signifies a significant step towards integrating real-world assets into the blockchain ecosystem, providing investors with innovative avenues for engaging with traditional financial products in a decentralized and compliant manner. As the TBF and Libre’s Gateway system continue to evolve, they are poised to revolutionize the intersection of TradFi and DeFi, offering a bridge between the conventional financial world and the cutting-edge blockchain space.