Hamilton Lane announced the launch of a private credit fund on Solana Blockchain with the help of Libre. The investment firm stated that investors can now access SCOPE on Solana. Solana’s low latency and efficiency reportedly make it an attractive network for the private fund’s tokenization.
Hamilton Lane, an asset management firm with over $900 billion in custody, announced it had partnered with Libre to launch a private credit fund (SCOPE). The companies said investors can now access the credit fund on Solana. The two companies mentioned that tokenizing the private credit fund would deepen the firm’s distribution by accessing new audiences.
Libre introduces Hamilton Lane’s SCOPE on Solana
Libre, a Web3 protocol joint venture between Nomura’s Laser Digital and WebN Group that offers on-chain fund issuance and distribution, announced it had partnered with Hamilton Lane to launch a private credit fund. Hamilton Lane announced that investors can access Hamilton Lane’s Senior Credit Opportunities Fund (SCOPE) via Solana.
Hamilton Lane previously announced a tokenized equity fund through Securitize, which made SCOPE the second on-chain tokenization. Victor Jung, Hamilton Lane’s head of Digital assets, expressed optimism about the launch by saying that the linkage is targeted at DeFi natives.
We believe this is just a start of a portion of the financial asset class that will be available to a new audience with a different risk-return profile.”
–Victor Jung
He also revealed the asset management firm is delighted to collaborate with Libre, which enables fund distribution to a broader audience, such as DeFi traders on Solana. Jung noted that the launch will increase returns from the private markets while improving investor transparency.
According to Dr.Avtar Sehra Libre’s Chief Executive Officer, SCOPE’s accessibility on the Solana blockchain provides HL with the opportunity to deepen its distribution by accessing a new audience of crypto-native traders.
Libre’s CEO praises Solana Network’s low latency
Solana and Libre released a joint statement stating that Libre allows accredited institutional investors on networks to access funds on-chain compliantly. Sehra praised Solana’s high transaction throughput and efficiency, adding that these features make it an attractive tokenization network.
Libre is the backbone infrastructure that links Real-World Assets (RWAs), money markets, and alternative assets to public-chain users. It reportedly achieved the feat through an on-chain Libre Gateway Decentralized Finance (DeFi) dApps installed on public chains.
Nick Dulof, head of institutional growth at Solana, also expressed his sentiments about Solana. He highlighted that Libre’s decision to utilize Solana’s high speed and security illustrates the benefits of blockchain technology within the financial markets.
Some industry observers believe that the launch could benefit the Solana blockchain network. They noted the approval of spot Ethereum ETFs in May, which presented hope that the leniency could expand to other altcoins.
Crypto enthusiasts speculate that the U.S.SEC could also approve Solana ETFs in the near future.
