tl;dr
Libre and the TON Foundation have launched a $500 million Telegram Bond Fund on The Open Network blockchain, enabling institutional and accredited investors to access Telegram’s $2.4 billion corporate debt on-chain for the first time. The fund will also participate in future Telegram bond offerings ...
Libre and the TON Foundation have launched a $500 million Telegram Bond Fund on The Open Network (TON), offering institutional and accredited investors tokenized access to Telegram’s $2.4 billion corporate debt for the first time. Managed via Libre’s regulated infrastructure, the fund supports fiat and stablecoin transactions, enabling borrowing and yield strategies within TON’s ecosystem. Investors will manage assets directly through TON-native wallets.
Since 2020, TON has operated independently from Telegram, although the app continues integrating blockchain features like wallet access and username auctions. Both entities plan further regulated asset offerings to broaden tokenized access to global financial products.
Libre, distinct from the Solana meme coin of the same name, is a regulated infrastructure provider that has tokenized over $200 million in assets for major institutions including BlackRock, Brevan Howard, Hamilton Lane, and Nomura’s digital asset arm. These tokenized assets are now made available on TON, expanding the range of institutional-grade financial products accessible through the network.
This launch reflects the growing institutional interest in real-world asset (RWA) tokenization, with total value locked in RWA protocols surpassing $11 billion and expected to exceed $50 billion in 2024. Major developments include BlackRock’s $2.5 billion BUIDL fund—a tokenized U.S. Treasury product available across multiple blockchains—and Circle’s acquisition of Hashnote, manager of the $1.25 billion USYC fund designed to integrate with its USDC stablecoin ecosystem.
Globally, initiatives like Dubai’s DAMAC $1 billion deal with Mantra to tokenize real estate, data centers, and physical assets highlight the expansion of RWAs on blockchain. The surge in tokenized financial products marks a significant shift, blending traditional assets such as corporate bonds, U.S. Treasuries, and real estate with the blockchain space, formerly dominated by crypto-native assets.