Nomura Bank’s Libre protocol adds tokenized funds to the NEAR blockchain
Using the Chain Signatures tool from the NEAR team, funds can move freely to other networks without the use of bridges
02.09.2024 - 15:25
70
3 min
0
What’s new? Financial asset tokenization startup Libre has added NEAR blockchain support for several real-world asset-based (RWAs) digital funds. The initiative is in partnership with Nomura Bank’s crypto unit Laser Digital, asset manager Brevan Howard’s fintech startup incubation center WebN, and investment firm Hamilton Lane.
What else is known? NEAR users will have access to the Hamilton Lane Credit Fund, the Brevan Howard Master Fund, and the Blackrock ICS Money Market fund.
In addition, the value of Libre’s assets under management recently passed the $100 million mark.
Nomura Bank subsidiary launches MATIC-based institutional staking fund
The program partners are the TruFin lending company and the Balancer exchange
Libre smart contract-enabled institutional protocol is built using the Polygon Chain Development Kit (CDK) to issue tokenized assets by regulated financial institutions around the world.
It was developed by the Laser Digital and WebN teams and launched in April this year under the leadership of Avtar Sehra, founder of the UK-regulated tokenization platform Nivaura.
Creating blockchain-based versions of financial assets is gaining popularity among institutional investors. Adding RWA funds to the NEAR blockchain is Libre’s plan to launch direct multi-chain transactions without the need for bridges (cross-chain protocols).
For this, NEAR has a Chain Signatures tool that allows you to buy assets in NEAR and then move and manage them on any other blockchain.
Avtar Sehra also said that Libre intends to introduce collateralized lending and secondary transfer of some assets by the end of the year.
What is NEAR Protocol? Revealing the features of the project in simple words
NEAR Protocol is a blockchain platform for decentralized applications (dApps)
The native token of the NEAR blockchain ranks 25th in the overall cryptocurrency ranking by market capitalization with $4,31 billion and is trading at $3,89, having lost 1,3% overnight. The weekly drop amounted to 20,1%, while the asset has added 7% since the beginning of the year.
Useful material?
Market
The asset is collateralized by short-term treasury bills, overnight repos, and cash
Sep 19, 2024
Market
It will cost less than 2 TRX to complete a transaction
Sep 18, 2024
Market
Curve founder Michael Egorov will act as a development consultant
Sep 17, 2024
Market
The firm had previously invested another $1,1 billion in bitcoin
Sep 17, 2024
Market
As part of the launch, a tokensale will be held among accredited investors under the supervision of the securities regulator
Sep 17, 2024
Incidents
This is the second hack of the project in the last two months
Sep 16, 2024