Brevan Howard joins institutional effort to tokenize funds

Asset tokenization will be done in collaboration with Libre Capital, a Laser Digital backed company

January 11, 2024 08:44 am

Colleen Sullivan, Brevan Howard Digital | Blockworks Permissionless 2022

Investment management platforms Brevan Howard and Hamilton Lane will be the first asset managers to tokenize their funds.

This will be done in collaboration with Libre Capital, a startup that is backed by Laser Digital and Alan Howard-backed WebN Group.

Libre plans to go live in the first quarter of 2024 and enable asset tokenization and collateralized lending through the Polygon’s PoS Ethereum sidechain.

Brevan Howard has long been an active participant in the cryptocurrency space through its various investments in blockchain startups.

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Its decision to tokenize its funds will enable the fund management company to bring liquidity into assets that would otherwise be idle.

Over the past few months, asset tokenization has become a popular narrative within the cryptocurrency space, and this trend is predicted to continue throughout 2024.

In fact, according to rwa.xyz, a platform that tracks on-chain tokenization, there is now over $585 million worth of active loans on the blockchain.

The cumulative value for all these loans has reached $4.5 billion and it is estimated that, on average, borrowers are paying an estimated 9.57% APR for their loans.

Most recently, digital asset liquidity provider Enigma Securities partnered with Circle-backed tech company OpenTrade to bring yield-bearing US Treasury Bills on-chain.

Brevan Howard did not respond to Blockworks’ request for comment before publishing time.

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