Key Takeaways
- • Libeara, the fund tokenization platform founded by Standard Chartered's SC Ventures, is acquiring Zodia Markets (Jersey), which holds a Jersey investment dealing license and VASP supervision, pending regulatory approval.
- • The acquisition is aimed at enabling intraday liquidity for tokenized funds, letting eligible investors buy or exit positions between dealing windows rather than waiting for subscription or redemption.
- • Libeara's platform currently holds $810 million, with more than $700 million attributed to ChinaAMC's tokenized fund classes.
- • VASP supervision would allow Libeara to on-ramp and off-ramp clients using stablecoins for subscriptions, redemptions and trading, where fund terms permit; in Singapore this is currently handled through partners.
- • SC Ventures' stake in Zodia Markets was diluted to 60% in the most recent funding round.
Summary
Libeara, the fund tokenization platform founded by Standard Chartered's SC Ventures, is acquiring Zodia Markets (Jersey), according to Ledger Insights. The target carries a Jersey investment dealing license and is also supervised as a Virtual Asset Service Provider (VASP). The transaction is pending regulatory approval. Zodia Markets was itself founded by SC Ventures, although the bank's stake was diluted to 60% in the last funding round. Zodia Markets had acquired the Jersey company from Elwood Technologies two years earlier to support its OTC crypto trading desk.
Aaron Gwak, Libeara's founder and CEO, confirmed to Ledger Insights via email that a key purpose of the deal 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," Gwak said. Libeara's platform currently holds $810 million in assets. The largest share, more than $700 million, consists of ChinaAMC's tokenized fund classes. Other prominent funds on the platform include the $103 million Bosera Liquidity Income Fund and a Delta Wellington money market fund.
Beyond intraday liquidity, the Jersey base gives Singapore-regulated Libeara an international footprint. The VASP supervision would allow it to on-ramp and off-ramp clients using stablecoins for fund subscription, redemption and trading, for funds whose terms permit such activity. Stablecoin on- and off-ramping in Singapore is currently handled through partners.
Aaron Gwak, Libeara's founder and CEO, confirmed to Ledger Insights via email that a key purpose of the deal 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," Gwak said. Libeara's platform currently holds $810 million in assets. The largest share, more than $700 million, consists of ChinaAMC's tokenized fund classes. Other prominent funds on the platform include the $103 million Bosera Liquidity Income Fund and a Delta Wellington money market fund.
Beyond intraday liquidity, the Jersey base gives Singapore-regulated Libeara an international footprint. The VASP supervision would allow it to on-ramp and off-ramp clients using stablecoins for fund subscription, redemption and trading, for funds whose terms permit such activity. Stablecoin on- and off-ramping in Singapore is currently handled through partners.
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