Libeara and FundBridge Capital’s Ultra Fund brings US Treasury investments onchain, strengthening blockchain finance.
Libeara, a blockchain-based asset tokenization platform, and FundBridge Capital, an infrastructure provider for fund management, have introduced a tokenized U.S. Treasurys fund on a public blockchain.
The fund, named the “Delta Wellington Ultra Short Treasury On-Chain Fund” or “Ultra Fund,” provides digital access to U.S. Treasurys for investors.
Built on Libeara’s Delta platform, the fund supports the subscription, transfer, and redemption of tokenized units, aiming to deliver a transparent, auditable, and efficient solution for fund management.
Initially, the Ultra Fund will launch on the Ethereum mainnet, with plans to expand to other networks like Arbitrum, Avalanche, and Solana to increase accessibility for crypto investors.
Web3 Demand for Secure Investments
Libeara’s platform will enable users to interact with tokenized units via distributed ledger technology, which Libeara’s founder and CEO Aaron Gwak described as “a significant step forward.”
Gwak noted that the fund brings “institutional credibility to USD-denominated investments,” comparing it to the SGD Delta Fund, a tokenized fund denominated in Singapore dollars.
The Ultra Fund offers investors new digital and Web3 options for accessing U.S. Treasurys while encouraging the adoption of blockchain technology in mainstream finance.
Convergence Implications
The Ultra Fund merges traditional finance (TradFi) with blockchain technology, allowing financial institutions to adopt tokenization for greater accessibility and reduced operational costs.
Wellington Management, a global asset management firm, serves as the fund’s sub-manager, helping bridge the fund for institutional and Web3 investors.
Mark Garabedian, Wellington’s director of digital assets and tokenization, called tokenization “a new frontier” for asset management and stated that FundBridge’s approach aligns with Wellington’s, providing “enhanced access and operational efficiencies to clients.”
Moving Mainstream
Standard Chartered Bank, a major global bank headquartered in London, will serve as the fund’s custodian, aligning with its objective to support clients seeking exposure to digital assets.
As an established advocate for cryptocurrencies, Standard Chartered’s involvement is expected, especially after the bank’s analyst Geoff Kendrick projected Bitcoin’s price could reach $125,000 by year’s end.
Kendrick predicted BTC might hit $73,000 by the U.S. presidential election on November 5, with continued price growth if former President Donald Trump is reelected.
