Free, a tokenization firm that works in close collaboration with the tastes of the Brevan Howard coverage fund, the investment management firm Hamilton Lane and the Digital Nomura Digital Assets Unit, plans to tokenar a value of $ 500 million of telegram debt such as the Bond Telegram (TBF) fund with blockchain headquarters in the TONE network that is linked to The messaging platform.
TBF will offer accredited exposure to investors to some of the around $ 2.35 billion pending bonds issued by Telegram, providing institutional degree performance products that will also be available as a guarantee for loans in the chain and development of products in Ton, Free said.
“What we have created is like a fixed income fund that acquires the bonds and then we touch the background,” the Free CEO, Avtar Sehra, in an interview. “When you buy units in the background, these are in the Ton chain, which gives you access to the yields of the underlying bonds.
Last year or two has seen a hurry to create representations based on act assets of the real world assets (RWAS), which carries the traditional financial world quickly within the scope of crypto and decentralized finance (defi).
Sehra said that many of their customers want products from the monetary market tokenized because they are looking for quick access to cash, or something that is associated with an ecosystem in which they participate or work inside.
Telegram originally developed the Ton network before continuing as an independent operation. During the last year or so, Ton has focused on bringing a large strip of more than 950 million telegram users in the chain.
Free has already played more than $ 200 million in assets between funds from leading institutions such as Blackrock, Brevan Howard, Hamilton Lane and Laser Digital.
“Our goal is not just token things for the sake of tokenize them,” said Sehra. “I think the real value of tokenize traditional financial instruments is to unlock the usefulness of those assets.”
Update (April 30, 06:32 UTC): Change the number of pending telegram bonds at $ 2.35 billion
