According to Cointelegraph, infrastructure provider Libre launched a new Web3 protocol to introduce investment funds to the Aptos network. The first funds deployed on the Aptos layer-1 include Brevan Howard Master Fund, Hamilton Lane’s Senior Credit Opportunities Fund and BlackRock’s ICS Money Market Fund, with a total asset management scale of more than US$91 billion.
Libre, a joint venture between WebN Group and Nomura’s Laser Digital, will serve as the infrastructure for integrating real-world assets (RWAs) on Aptos. Libre’s Gateway DeFi DApps will allow qualified professional and institutional investors to access these funds on-chain.
Over the past few months, the same portfolio of Libre has been deployed on the Solana and Near blockchains. Tokenization is the process of converting real-world assets or rights into digital tokens, making them tradable on a blockchain system. Tokenization enables small investors to trade and gain exposure to large, illiquid assets by fragmenting them.
According to Dune Analytics, more than $1.6 billion in securities have been tokenized as of September 5. Global bank Citi predicts that the tokenization market will reach $5 trillion by 2030.
Mo Shaikh, co-founder and CEO of Aptos Labs, said Libre leverages the Aptos Ascend product to provide users with an on-ramp to new asset classes and financial services, ensuring they benefit from the reliability of TradFi and the decentralization and foundational security provided by Move on Aptos.
The Libre protocol, which will go live in the first quarter of 2024, supports asset tokenization and smart contracts on the Polygon network, as well as automatic rebalancing of collateralized loans and separately managed accounts (SMAs). The protocol also offers crypto-native funds such as Laser Digital’s new Market Neutral Fund.
