Moody's has rated the first fund to use Standard Chartered's SC Ventures' Libeara tokenization platform.
Singapore’s FundBridge Capital will launch the SGD Delta Fund, a tokenized Singapore dollar government bond fund, on the Ethereum and Stellar chains. Although the credit quality of its underlying assets is AAA, Moody's gave the fund an AA rating, reflecting the risk of the fund manager's inexperience in managing trusts with similar strategies.
The fund will primarily invest in high-quality Singapore government securities, the tokenization of which will be implemented on the Ethereum and Stellar public chains, increasing transparency and enabling whitelisted investors to trade tokenized shares with each other . (The Block)
According to previous news in November 2023, the venture capital arm of Standard Chartered Bank announced the launch of a new blockchain department, Libeara, which aims to help institutions use blockchain to digitize financial instruments, with the purpose of reducing the need for intermediaries.
Libeara is working with FundBridge Capital, a Singapore-based fund platform solutions provider, to create the first tokenized Singapore dollar government bond fund for professional investors, which is expected to be launched at a later date, subject to regulatory approval from Singapore authorities.