SC Ventures, the investment arm of Standard Chartered Bank has debuted a new asset tokenization platform dubbed Libeara.
Noteworthy, the title ‘Libeara’ is a portmanteau of Liberty and Aerarium. The Singapore-based stand-alone entity is set to revolutionize the accessibility of assets, marking a significant milestone in Standard Chartered Bank’s digital asset strategy.
It also aligns with the growing innovative tokenization trend in the financial ecosystem. Therefore, Libeara is more than a business expansion move, as it transcends into a response to an evolving financial landscape.
Libeara Revolutionize Asset Accessibility
The inception of Libeara has been pivotal to the completion of several other projects. It participated in the Monetary Authority of Singapore’s Global Retail CBDC Challenge and emerged as a finalist. Markedly, it conducted digital assets proof-of-concept prototypes for different governments including Hong Kong, Ghana, and the Philippines.
Speaking about the latest launch, Alex Manson, head of SC Ventures said “Libeara is an exciting new venture: tokenization will make a number of asset classes more widely available. As we now have institutional grade custody and exchange of digital assets with Zodia Custody and Zodia Markets, Libeara is the next logical step to better serve our customers.”
Libeara Partners With FundBridge Capital
Libeara had previously partnered with FundBridge Capital, a Singapore-regulated fund platform to design a tokenized Singapore dollar government bond fund. The offering was focused on accredited investors. At the time, Aaron Gwak, who leads Libeara as the founder and CEO, cited that the platform was the first to ever offer a tokenized Singapore dollar government bond fund.
An international credit rating agency was brought into the mix to ensure the credibility and structural integrity of the offering.
Institutional Investors Adopting Tokenization
Tokenization in the traditional financial sector is fast gaining momentum. JPMorgan is another institutional investor who has plunged into the world of tokenization. The popular United States banking behemoth launched its proprietary blockchain-powered tokenization platform called the Tokenized Collateral Network (TCN). The design of TCN permits investors to use assets as collateral.
Similarly, Goldman Sachs’ tokenization platform “GS DAPTM” went live at the beginning of this year. The platform utilizes Digital Asset’s core technology known as Daml to unleash the full potential of tokenization.