Libeara has entered into a strategic collaboration with FundBridge Capital to launch the Delta Wellington Ultra Short Treasury On-Chain Fund (“ULTRA Fund”).
Libeara is a real-world asset (RWA) tokenization platform backed by SC Ventures, Standard Chartered’s venture building and fintech investment arm.
FundBridge Capital is an established Singapore MAS regulated platform provider for fund managers.
Wellington Management Singapore Pte. Ltd. will act as sub-manager for the ULTRA Fund.
This innovative structure combines Libeara’s Delta platform, a fund tokenisation system, with Wellington’s market-leading asset management capabilities, to bring next generation fund management solutions tailored to the needs of the Web3 community.
The ULTRA Fund was established under the Delta Master Trust structure set up by FundBridge. The Delta Master Trust is integrated with Libeara’s institutional-grade Delta platform, which will facilitate the subscription, issuance, transfer, and redemption of tokenised units in the ULTRA Fund.
Accessible via USDC and fiat, and initially deployed on the Ethereum Mainnet, the platform leverages distributed ledger technology to offer investors a seamless and secure experience, enhancing transparency, auditability, and efficiency in investment subscription, redemption and transfer. The tokenised units will soon be available on Arbitrum, Avalanche, and Solana.
“Our partnership with FundBridge Capital on the ULTRA Fund marks a significant step forward in expanding our tokenisation ecosystem,” said Aaron Gwak, Founder and CEO of Libeara.
“This new fund, modelled after the SGD Delta Fund—which became the first tokenised fund to receive a rating of Aa from Moody’s—brings the same level of institutional credibility to USD-denominated investments,” Aaron added.
Gwak also highlighted how tokenisation transforms asset mobility, allowing investors to interact with their investments in new ways, such as using tokenised fund units as collateral. This enhanced asset flexibility is powered by blockchain and smart contract technology, which automate complex processes like collateralisation and ensure efficient transfer of ownership if needed.
“With this collaboration, we are reinforcing our commitment to delivering secure, scalable infrastructure that meets the evolving needs of issuers and investors in the digital landscape,” Gwak said.
The Delta Wellington Ultra Short Treasury On-Chain Fund has been warmly received by the Web3 community, with early interest from stablecoin issuers, exchanges, and decentralised autonomous organisations (DAOs). Mountain Protocol, Drift and Ondo Finance are among the first to engage with this fully on-chain USD treasury solution. Ondo Finance will be providing its technology for intraday redemptions in support of the tokenised units.
“Tokenisation represents a new frontier in asset management, and we are excited to continue the journey by collaborating with Libeara, FundBridge and Standard Chartered Bank, as custodian, on this pioneering initiative,” said Mark Garabedian, Director of Digital Assets and Tokenization for Wellington Management. “By leveraging blockchain technology, FundBridge can deliver enhanced access and operational efficiencies to clients, aligning with Wellington’s commitment to providing innovative, best-in-class investment solutions.”
“By participating in the Delta Wellington Ultra Short Treasury On-Chain Fund, we gain exposure to a fully on-chain short-term treasury solution that aligns with our ultra-safe investment mandate and enhances our transparency to users,” said Martin Carrica, CEO and Co-Founder at Mountain Protocol.
“We believe this fund and the tight relations with sponsoring entities allow for great operational efficiency and are a step forward in further institutionalizing crypto.”
This partnership marks a significant milestone in the adoption of tokenisation within traditional financial markets, showcasing blockchain’s transformative power in enhancing operational efficiency and delivering a superior experience for investors.
“We are committed to supporting clients in the digital asset ecosystem through our custody and banking services across Standard Chartered,” said Margaret Harwood-Jones, Standard Chartered’s Global Head of Financing and Securities Services.
“By collaborating with Libeara and our other SC Venture companies, we aim to foster innovation and growth across the digital asset landscape.”
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