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

111

3 min

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.

Material by CoinDesk

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.

Author: