In November Standard Chartered’s SC Ventures unveiled Libeara, a Singapore tokenization startup it incubated. Today Moody’s released a rating for the first fund to use the platform. Singapore’s FundBridge Capital will issue the tokenized fund units on the Ethereum and Stellar public blockchains. This may be the first official rating for a tokenized fund on a public blockchain.
The SGD Delta fund will mainly invest in high quality Singapore government securities. It will only be available to accredited or institutional investors.
Moody’s gave it an AA rating (AA-bf as in bond funds) rather than a AAA. That’s despite the credit quality of the underlying assets being AAA.
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