What happened?
The Libre project, in collaboration with TON Foundation, is launching a new tokenized fund on The Open Network (TON) blockchain. This fund aims to tokenize $500 million worth of Telegram Bonds. It allows for compliant, on-chain exposure to $2.35 billion of outstanding bonds issued by Telegram.
Who does this affect?
This development primarily affects institutional and accredited investors who are part of the TON ecosystem. These investors will now have access to institutional-grade yield products in a decentralized finance (DeFi) format. Additionally, they can use the Telegram Bond Fund (TBF) as collateral for on-chain borrowing and development of new yield-bearing products.
Why does this matter?
The launch of the Telegram Bond Fund on the TON blockchain represents a significant step in integrating real-world assets into the crypto market. By providing regulated financial products that combine compliance with blockchain composability, it opens up new opportunities for both institutions and the broader TON community. This move could potentially attract more traditional financial entities to the blockchain space, increasing its credibility and market size.