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Libre, a prominent tokenization company, plans to tokenize $500 million of Telegram’s $2.35 billion bonds on the TON blockchain. This initiative involves the creation of the Telegram Bond Fund (TBF), offering institutional investors access to fixed-income products while enabling these products to serve as collateral for on-chain development. Collaborating with major financial entities like Brevan Howard and Laser Digital, Libre aims to redefine financial accessibility through blockchain-based tokenization, unlocking new functionalities for traditional bonds.
Bonds Transition to Blockchain
According to Libre CEO Avtar Sehra, the established structure functions as an on-chain fixed-income fund. It plans to purchase Telegram’s bonds and subsequently tokenize these assets on the TON network. Investors purchasing fund units will directly partake in the returns from these bonds.
This approach not only generates income but also enables tokenized bonds to be used as collateral on the TON network, simplifying transfers and integration with various on-chain financial products. This advancement makes traditional financial instruments more functional and versatile.
The past two years have witnessed a significant acceleration in the integration of real-world assets into blockchain networks. Many asset types, from fixed-income products to real estate, now have on-chain representations, adding them to the cryptocurrency realm.
TON Network Offers Financial Instruments
Initially developed by Telegram, the TON network has evolved into an independent blockchain system. Over the past year, it has concentrated on transitioning Telegram’s over 950 million global user base to the blockchain platform.
Libre’s ambition goes beyond mere tokenization. Sehra emphasizes the importance of instilling real functionality into these tokenized products. Users demand quick access to both bonds and money market products. Investors integrated into an ecosystem increasingly prefer such solutions.
Libre has previously successfully tokenized over $200 million in assets, in collaboration with major players like BlackRock and Brevan Howard. Now, the initiative with Telegram bonds marks a new chapter.
Sehra stresses that tokenization is not just a technological showcase. “The real value lies in unlocking traditional assets,” he said. These bonds are poised to become digital collateral, payment instruments, or investment products, beyond mere documents held.
