Tokenization: A New Wave of Real Asset On-Chain

Tokenization is rapidly moving from theory to practice, becoming a hot topic in the global financial sector. Whether it is crypto-native institutions or traditional financial giants, they are all exploring how to achieve the digitalization, on-chain integration, and globalization of real-world assets (RWA) under compliance conditions. From government bonds to real estate, and from commodities to bills, the categories of assets that can be tokenized are continuously expanding, and the regulatory framework is gradually opening experimental space for innovation. Behind this wave of on-chain assets lies a deep-seated demand in global capital markets for increased efficiency, enhanced transparency, and 24/7 liquidity.

In this context, Libeara positions itself as an innovative platform that is regulatory-friendly and aimed at institutional tokenization practitioners. Unlike many traditional financial institutions that are still in the pilot phase, Libeara has accumulated practical business experience through actual projects. At the same time, it differs from the aggressive technology-first approach of certain crypto institutions, emphasizing compliance, security, and institutional-grade adaptation.

RWA enters an acceleration phase, three major products connect the path of traditional assets on-chain.

The trend of RWA tokenization is accelerating its penetration into the mainstream market. Recent data shows that the total value of on-chain RWA assets globally has surpassed $25.5 billion, with a growth rate of nearly 56% since the beginning of the year, covering various asset classes including US Treasury bonds, real estate, private credit, commodities, and stocks. This indicates that on-chain finance is no longer limited to an experimental field for crypto-native assets; the traditional financial market has an increasingly strong demand for more efficient, transparent, programmable, and composable financial infrastructure.

Currently, the issuance and custody processes of traditional financial assets are still highly dependent on centralized institutions. While they have advantages in compliance and security, they also face issues such as complex and lengthy issuance processes, high participation thresholds, exorbitant costs, and serious data silos. To address these pain points, Libeara has developed highly compliant and efficient on-chain issuance and management solutions through its three core product lines: Bravo, Delta, and Tango, targeting major asset classes such as bonds, funds, and securities, thereby accelerating the on-chain process of traditional assets.

Bravo: Native tokenization of government bills and bonds

Bravo is an innovative asset tokenization platform designed for national-level financial institutions, supporting the native issuance, trading, and management of government bonds and sovereign debt directly on-chain, aiming to enhance the inclusiveness, transparency, and risk resistance of the financial system.

Traditional sovereign bonds typically have high thresholds and complex processes, mainly aimed at institutional investors. Bravo eliminates the barriers to entry in the traditional market by supporting the issuance of small-denomination bonds and on-chain wallets, promoting the democratization of debt. Traditional bonds involve multiple intermediaries, with cumbersome processes and low efficiency. Bravo allows governments to issue, circulate, and repay directly on-chain, and automatically executes through smart contracts, with the entire process being traceable and verifiable.

Developing countries' financing heavily relies on USD debt, making them susceptible to currency mismatch traps. Bravo's local currency bond support mechanism enables the on-chain integration of native local currency debt, enhancing government strategic autonomy and risk resistance, as well as strengthening credit anchoring.

The Bravo platform offers flexible debt product design capabilities. Traditional government bonds have a single form and are difficult to adapt to the diverse capital needs and policy orientations. Bravo supports programmable debt instruments, such as inflation-linked value-preserving bonds, delayed issuance bonds designated for future use, as well as innovative forms like lottery bonds and birthright bonds, to meet social policy objectives and the needs of diverse populations.

The traditional debt structure involves multiple institutions, which carries intermediary risks, operational errors, or bankruptcy risks. Bravo implements a native on-chain holding mechanism, where assets are directly owned by the investors, eliminating intermediary custody risks and single points of failure, while also ensuring data transparency and verifiability, greatly enhancing system resilience.

Delta: Tokenization services for regulated fund managers

Delta allows regulated fund managers to issue and manage on-chain fund shares, supporting the tokenization of fund shares with any denomination, significantly lowering the investment threshold. Through the tokenization mechanism, these fund shares can be freely transferred among compliant investors, effectively breaking the liquidity bottleneck in traditional fund investments. The platform supports multi-asset classes and cross-jurisdictional fund management, meeting the needs for diversified investment portfolios. Investors can conveniently complete subscription, redemption, and transfer operations of fund shares on the Delta platform, greatly enhancing user experience and operational efficiency.

Delta will officially launch an institutional-grade application and platform developed by FundBridge Capital, a licensed fund manager in Singapore, through Libeara, featuring institutional-level security and compliance. Delta meets the different needs of crypto-native investors and traditional investors by bridging traditional finance (TradFi) and decentralized finance (DeFi).

Tango: Universal Security Token Issuance Platform

Tango is a universal security token issuance platform that supports multiple asset classes, enabling the tokenization of various real-world assets such as securities, commodities, and media. The platform supports multiple blockchain networks to ensure technical compatibility and flexibility to adapt to different market demands. At the same time, Tango integrates KYC and AML functionalities, as well as bank-level technology, internal control systems (ICS), risk management, and compliance standards, ensuring that all tokenization projects' issuance and circulation comply with regulatory and legal standards.

Entering the practical stage, the tokenization business has been implemented for many years.

Compared to many RWA participants who are still in the exploration and experimentation phase, Libeara is driving the tokenization from concept to actual implementation. By flexibly adapting to the regulatory and market demands of different countries and institutions, Libeara has been practically tested and optimized in national projects in countries such as Singapore, Hong Kong, Ghana, and the Philippines, covering various asset scenarios including public offerings, private placements, and sovereign debt central bank digital currencies (CBDC), providing a replicable and verifiable technological paradigm for the global market.

For example, the ULTRA fund is a tokenized U.S. short-term treasury fund launched in collaboration by Libeara with FundBridge Capital and Wellington Management, targeting qualified and institutional investors. It is also one of the highest-rated tokenized U.S. treasury funds globally, receiving high ratings from multiple institutions. Recently, some on-chain capital entry platforms and RWA exchanges have also announced partnerships with Libeara to expand access to the ULTRA fund.

Libeara has also partnered with a leading domestic public offering institution to successfully launch a retail tokenization fund - the Huaxia Hong Kong Dollar Digital Currency Fund. This fund is the first tokenized fund approved by the Hong Kong Securities and Futures Commission aimed at retail investors. By achieving tokenization through Libeara, it provides innovative investment tools for investors to earn Hong Kong dollar returns through blockchain-based channels.

In 2023, Libeara was shortlisted for the final of the Ghana Central Bank CBDC Hackathon, building a prototype system that supports CBDC subscription for Ghanaian government bonds and bills, achieving on-chain tokenization issuance and settlement of Ghanaian government bonds. This project not only verified the technical feasibility but also provided a viable path for financial digitization in developing markets.

In addition, Libeara's tokenization technology has been incorporated into multiple national-level financial infrastructure construction projects. In 2024, Libeara participated in Project Ensemble launched by the Hong Kong Monetary Authority, which is a wholesale Central Bank Digital Currency (wCBDC) project aimed at promoting the development of the tokenization market in Hong Kong. Libeara collaborated with other institutions to conduct proof-of-concept testing, exploring the settlement applications of tokenized deposits and tokenized assets, providing practical case support for the wCBDC infrastructure of the Hong Kong Monetary Authority.

In 2020, Libeara collaborated with a bank in the Philippines to complete the country's first tokenization retail bond project, issuing an initial offering of retail bonds valued at 9 billion Philippine pesos on-chain. Libeara also participated in the green finance project Project Genesis, jointly launched by the Hong Kong Monetary Authority (HKMA) and the Bank for International Settlements (BIS) Innovation Hub, exploring the application of blockchain technology in the tokenization of green bonds to improve issuance efficiency, lower investment thresholds, and enhance the transparency of green investments.

The core team has extensive financial experience and is dedicated to building the RWA "super secure car".

The name Libeara is derived from "Liberty" (the first retail government bonds in the United States, "Freedom Bonds") and "Aerarium" (the treasury of ancient Rome). As a fintech company developed by an innovative incubation platform, Libeara was established in January 2023 and is headquartered in Singapore. It is dedicated to utilizing blockchain technology to promote the tokenization of government bonds and funds, breaking the friction and barriers of traditional capital markets, and opening up investment channels that were previously hard to access.

The core team of Libeara brings together top experts from traditional finance, blockchain technology, and regulatory compliance. The founder and CEO has over 20 years of rich experience in capital markets and has designed and executed bond financing programs worth over $180 billion for sovereign nations, corporations, and financial institutions. He possesses profound insights into the inefficiencies and pain points of traditional financial markets, especially in areas with numerous intermediaries, high investment thresholds, and limited liquidity. This experience serves as the cornerstone for the establishment of Libeara, enabling it to find a balance between technological innovation and financial security, providing the market with solutions that are both efficient and credible.

The founder has stated that the tokenization of funds and bonds involves too many intermediaries, resulting in high investment thresholds and difficulty in entry. Tokenization not only simplifies these inefficient links but also redefines the interaction between investors and assets. Through blockchain technology, Libeara enhances the transferability of these investments, allowing assets to flow peer-to-peer among investors, significantly increasing flexibility. This has also given rise to more new use cases, such as improving liquidity and expanding the scope of investor participation.

He emphasized that not all tokenization projects are equally secure. Many past projects merely placed the digital representation of assets on-chain without considering basic investor protection measures, thereby introducing unnecessary risks. Libeara aims to create a "super safe car" that can safely navigate the digital highway of modern finance.

Libeara's services target a new type of investor, specifically those who hold crypto wealth but wish to participate in traditional capital market investments. The founder pointed out that the widespread application of blockchain in traditional finance faces cognitive barriers, as many still equate blockchain with volatile cryptocurrencies and unregulated markets, rather than stable, regulated assets like government bonds. Changing this perception requires not only advanced technology but also a strong compliance framework to demonstrate that blockchain can support serious regulated financial products.

He envisions that the power of wealth allocation will shift from large financial institutions to individuals. Tokenization will play a key role, preserving the stability and structure of traditional finance while meeting the contemporary investors' demands for flexibility and autonomy.