Libeara, the fund tokenization platform founded by Standard Chartered’s SC Ventures, is acquiring Zodia Markets (Jersey), which comes with a Jersey investment dealing license and is also supervised as a Virtual Asset Service Provider (VASP). Zodia Markets was also founded by SC Ventures, although the bank’s stake was diluted to 60% in the last funding round. Two years ago Zodia Markets acquired the Jersey company from Elwood Technologies for its OTC crypto trading desk. The transaction is pending regulatory approval.
Aaron Gwak, Libeara’s founder and CEO, confirmed to Ledger Insights that one of the key purposes of the acquisition is to enable intraday liquidity for tokenized funds. “A regulated dealer lets eligible investors buy or exit positions between dealing windows, without waiting for subscription or redemption,” he said via email. The highest profile funds on Libeara’s infrastructure are ChinaAMC’s tokenized fund classes, which account for more than $700 million of the $810 million currently on the platform. Other prominent funds include the $103 million Bosera Liquidity Income Fund and a Delta Wellington money market fund.
Beyond intraday liquidity, Jersey gives Singapore-regulated Libeara a strong international base, and the VASP supervision means it can on-ramp and off-ramp clients using stablecoins for fund subscription, redemption and trading, for funds whose terms permit it. In Singapore the stablecoin on and off ramping is currently handled via partners.
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