Standard Chartered launches tokenization platform in Singapore

abdelaziz Fathi

SC Ventures, the fintech investment and venture arm of Standard Chartered, has launched a new tokenization platform, Libeara, which facilitates the creation of a tokenized Singapore dollar government bond fund.

Standard Chartered

Libeara, which has been developed specifically for accredited investors, was previously involved in different proof-of-concept projects as an independent entity based in Singapore. These include being a finalist in the Monetary Authority of Singapore’s Global Retail CBDC Challenge and creating digital platform prototypes for the governments of Hong Kong, Ghana, and the Philippines.

The platform’s name, Libeara, is a blend of ‘Liberty’ and ‘Aerarium’, symbolizing the fusion of modern financial liberty with the historical essence of the Roman Treasury. Aaron Gwak, who brings over 16 years of experience from the Standard Chartered group, leads Libeara as its founder and CEO. The venture aims to help fund managers, governments, and issuers tokenize real-world assets or issue regulated security tokens.

“Libeara is an exciting new venture: tokenization will make a number of asset classes more widely available. As we now have institutional grade custody and exchange of digital assets with Zodia Custody and Zodia Markets, Libeara is the next logical step to better serve our customers,” said Alex Manson, head of SC Ventures.

Libeara’s operations are supported by a range of partnerships, including Fireblocks for custody solutions, Chainalysis and Chekk for compliance, and Fazz via StraitsX for conversion between stablecoins and fiat currency.

The platform’s collaboration with FundBridge Capital, a Singapore-regulated fund platform, is pivotal in the creation of the tokenized Singapore-dollar government bond fund. This collaboration highlights the growing trend of tokenization in the financial sector, which is attracting attention from major traditional financial players.

This trend is evident as various financial institutions, including HSBC and UBS Asset Management, have recently ventured into tokenization. HSBC has launched a platform for tokenizing physical gold, while UBS Asset Management is piloting a tokenized money market fund on Ethereum. Citi has also introduced Token Services for deposit tokenization.

Tokenization tests for asset management products are also underway in multiple countries, reflecting a broader shift in the financial industry toward embracing digital assets and blockchain technology.

“By partnering with Libeara to offer a tokenized Singapore dollar government bond fund for all our investors, we are ensuring that we can provide additional investment opportunities enabled by lower operating costs, higher transparency and higher operational efficiency,” said Sue Lynn Lim, CEO and COO of FundBridge Capital.

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