Libre Plans to Tokenize $500 Million of Telegram Debt on TON Network
Libre, a tokenization firm collaborating with Brevan Howard, Hamilton Lane, and Laser Digital, plans to tokenize $500 million of Telegram debt as the Telegram Bond Fund (TBF) on the TON network. Key details include:
- TBF aims to provide accredited investors access to around $2.4 billion of outstanding Telegram bonds.
- Offers institutional-grade yield products usable as collateral for on-chain borrowing.
- CEO Avtar Sehra described the fund as a fixed income vehicle that tokenizes underlying bonds.
- Tokenized funds are becoming prevalent in bridging traditional finance with crypto and DeFi.
- TON network seeks to onboard Telegram’s 950 million users onto the blockchain.
- Libre has previously tokenized over $200 million in assets from major institutions.
- Focus is on unlocking utility of financial instruments through tokenization.