Standard Chartered-Backed Libeara Launches Tokenized Gold Fund in Singapore

Core Insights - Libeara, a blockchain infrastructure platform backed by Standard Chartered's SC Ventures, has launched a tokenized gold investment fund in Singapore, integrating traditional gold investment with digital technology [1][2] - The fund, in partnership with FundBridge Capital, allows professional investors to gain exposure to gold through blockchain-based tokens that correlate to the spot price of gold, providing a digital alternative to physical gold [2][4] Group 1: Fund Structure and Benefits - The tokenized gold fund, named MG 999, is designed to eliminate traditional costs associated with vaulting and logistics while maintaining price exposure to gold [3][4] - FundBridge emphasizes that the fund structure targets efficiency and regulatory compliance, offering synthetic exposure to gold without holding physical bullion [5][4] Group 2: Market Context and Demand - The launch of the tokenized gold fund coincides with a surge in global gold demand, as central banks increase their bullion reserves amid concerns regarding the US dollar's long-term dominance and geopolitical uncertainties [7] - This initiative reflects a broader trend among established financial institutions to tokenize real-world assets, including precious metals, as blockchain technology gains traction beyond cryptocurrencies [5][6] Group 3: Strategic Expansion - SC Ventures is expanding its digital-assets presence in Asia, holding majority stakes in Zodia Custody and Zodia Markets, which focus on institutional digital-asset services [6] - The launch of the tokenized gold fund underscores how traditional finance players are leveraging their reputation to enter the digital asset sector, which has faced trust issues following industry challenges [6]