Blockchain asset tokenization platform, Libeara, in collaboration with FundBridge Capital launched a tokenized fund of US treasury bonds. They will be on a public blockchain for investors, and their channel will be Libeara’s Delta platform.
The project, called “Delta Wellington Ultra Short Treasury On-Chain Fund”, or Ultra Fund, offers investors digital access to US Treasury bonds.
The fund is structured to support subscriptions, transfers and redemptions of tokenized units. Its main objective is to provide a transparent, auditable and efficient fund management solution.
Initially, Ultra Fund will be deployed on the Ethereum mainnet and a possible expansion to Arbitrum, Avalanche and Solana to expand access for crypto investors.
How is Ultra Fund managed?
The project combines traditional finance (TradFi) with Blockchain technology. This allows financial institutions to adopt tokenization to improve accessibility while reducing operational costs.
Among the companies collaborating with this project is Wellington Management, a global asset management company. Wellington, along with FundBridge, are co-managers of the project and will help bridge the fund and attract Web3 and institutional investors.
Another collaborator is Standard Chartered Bank, a global bank based in London, and will act as depositary of the fund. Bank officials consider that the collaboration is part of their objective of supporting their clients seeking exposure to digital assets.
Safe investments on the Web3
On the other hand, the Libeara platform will allow users to interact with tokenized units through distributed ledger technology.
Libeara founder and CEO Aaron Gwak called it “an important step forward.” He also highlighted that the fund has “institutional credibility for investments denominated in USD”, comparing it with the SGD Delta Fund – a tokenized fund denominated in Singapore dollars.
The established fund opens new digital and Web3 avenues for investors to access US Treasury securities, while promoting the adoption of blockchain technology in mainstream finance.
