Libre, a tokenization company that works closely with the Hedge Foundation Brevan Howard, investment management company Hamilton Lane and Nomuras Digital Assets Unit Laser Digital, planning to tokenize $ 500 million worth of telegram debt as the blockchain-based telegram bond find (TBF) on the Ton network that is connected to the Messaging platform.

TBF will offer accredited investors exposing some of the approximately $ 2.4 billion. Dollars of outstanding bonds issued by Telegram, which provides benefits from institutional qualities that will also be available as a security for borrowing and product development on tonnes, Libre said.

“What we have created is like a fixed income fund that acquires the bonds, and then we tokenize the fund,” Libre CEO Avtar Sehra in an interview. “When you buy units in the fund, these are on the ton -chain, giving you access to the actual return of the underlying bonds. This opens up opportunities to use the bonds for security, easily transfers, etc. to ultimately create tools with these financial instruments.”

The past year or two have seen a busy creating blockchain-based representations of assets in the real world (RWAs), bringing the traditional financial world quickly within the framework of crypto and decentralized finance (DEFI).

Sehra said many of his customers want either tokenized money market products because they are looking for quick access to cash or something associated with an ecosystem they are involved in or working within.

The Ton network was originally developed by Telegram before continuing as an independent operation. Over the past year or so, Ton has been focused on bringing a large number of telegram’s 950 million plus users on-chain.

Libre has already tokenized over $ 200 million in assets across funds from leading institutions including Blackrock, Brevan Howard, Hamilton Lane and Laser Digital.

“Our goal is not just to tokenize things for the sake of tokenizing them,” Sehra said. “I think the real value of the tokenization of traditional financial instruments unlocks these assets.”