Polygon Labs has launched the Libre Chain, a protocol powered by the Polygon CDK and supported by major players in institutional blockchain adoption. The Libre Chain aims to provide unparalleled access to global alternative investment funds and enhance distribution capabilities for asset managers.
The Libre Chain was introduced in a post by Polygon on the 10th of January. The protocol is designed to focus on the issuance and distribution of tokenized assets, leveraging the security of Ethereum. The platform is expected to unlock broader distribution capabilities for asset managers and wealth advisors, and provide unprecedented access to alternative investment funds for a wider pool of investors.
Libre has the backing of some of the biggest names in institutional blockchain adoption. These include Laser Digital, a subsidiary of Japan’s largest investment bank, Nomura Group, and WebN Group, an incubation hub backed by alternative investment giant Brevan Howard. Other backers include Hamilton Lane and Avtar Sehra, a pioneer of tokenization known for his work with Nivaura. The project is credited with bringing tokenization to Bitcoin and Ethereum when most argued that tokenization would be limited to private blockchains.
The Libre Chain is designed to empower regulated institutions to tokenize and issue alternative investments, enabling broader distribution for asset managers. The Ethereum Layer-2 chain is set to go live in Q1 2024, with Brevan Howard and Hamilton Lane being the first to strategically partner with Libre. The team is also working on adding services such as collateralized lending and automated rebalancing of separately managed accounts.
Avtar Sehra, CEO and founder of Libre, expressed his honor in working with respected institutions in the traditional finance and Web3 space to bring the Libre vision to life. He mentioned that while the primary objective is to increase AUM by launching the primary issuance service and driving distributor integrations, they are also working closely with partners and clients on the 2024 product roadmap, which includes collateralized lending and automated portfolio rebalancing.
Polygon co-founder Sandeep Nailwal expressed his delight at Libre’s choice of Polygon CDK’s scalability and security, praising the project’s potential to unlock new investment opportunities. Following the Libre Chain announcement, Polygon Labs CEO Marc Boiron asserted that Polygon CDK was the ideal platform for bringing institutional assets on-chain. Libre is the latest addition to Polygon’s growing multichain ecosystem, which includes other projects like OKX, Palm Network, and Flipkart.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
This News Article was automatically generated by Bob the Bot (AI)
| Information | Details |
|---|---|
| Geography | Asia |
| Countries | 🇯🇵 |
| Sentiment | positive |
| Relevance Score | 1 |
| People | Avtar Sehra, Sandeep Nailwal, Marc Boiron, Brevan Howard |
| Companies | Hamilton Lane, Nomura Group, Palm Network, Flipkart, Nivaura, OKX, Polygon Labs, Laser Digital, Brevan Howard, WebN Group |
| Currencies | Ethereum, Bitcoin |
| Securities | None |
