TON Fund:- In a major move for DeFi and RWA sector, Libre and TON Foundation have come together to launch a $500mn RWA Fund.
The newly launched Telegram Bond Fund ($TBF) aims to tokenize telegram corporate debt in the form of bonds. Worth around $500 million, this is the largest RWA bet in DeFi.
TON-Libre New RWA Fund – $TBF
The popular web2 messaging platform, Telegram’s corporate debt is worth roughly $2.4 billion. The new Telegram Bond Fund aims to provide access this debt to institutional-grade players. The tokenized debt will be executed on the TON blockchain and will serve as yeild bearing tool for investors.
Libre, the partner in this fund launch, will provide the required infrastructure in the fund implementation. It also plans to use future bond issuances as collateral for On-chain borrowing and yeild bearing products.
According to the press release shared with Coingape, the tokenized debt can be subscribed using fiat or Stablecoins using Libre’s Gateway Infrastructure on TON. The Libre infra will allow investors to make subscriptions, redemptions, and transferability of tokenized funds.
Boost for RWA Market?
The Ton Fund lauch comes as the RWA sector continues to grow.
After the recent Mantra collapse, the sector has rebounded. Its total market cap is expected to reach $50 billion by this year.
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