Libeara is a tokenisation platform incubated by SC Ventures, the innovation and ventures arm of Standard Chartered, and run as a separate Singapore-based company led by founder and CEO Aaron Gwak. It matters because it is one of the few bank-affiliated tokenisation vehicles operating from an APAC base rather than a US or European one, and because it has pushed regulated fund tokenisation further into production than most: it tokenised the first Singapore-dollar government bond fund, powers ChinaAMC's tokenised retail money market funds in Hong Kong, holds a Capital Markets Services licence-in-principle from the Monetary Authority of Singapore (MAS), and crossed US$1 billion in tokenised assets. Libeara's product, licensing, and partner choices are a useful read on how a global systemically important bank approaches tokenised funds in the region.

What it is

SC Ventures launched Libeara in November 2023 as a tokenisation platform aimed at fund managers, governments, and issuers wanting to bring real-world assets on-chain or issue regulated security tokens (CoinDesk, The Block). The team behind it was a finalist in MAS's Global Retail CBDC Challenge and had previously built digital-platform prototypes used by the Hong Kong government (Crowdfund Insider). Libeara markets a fund-tokenisation system under the "Delta" brand.

Live products

Latest first. See who holds what for the holdings graph around these products.

• MG999 On-Chain Gold Fund (December 2025): a tokenised gold fund launched with FundBridge Capital for institutional and accredited participants, structured to return the gold spot price plus lending yield, turning a negative-carry asset into a productive one. Singapore's Mustafa Gold (a Mustafa Group subsidiary) is the first borrower in the lending leg (Blockhead, crypto.news). No public AUM yet.
• ChinaAMC (HK) tokenised money market funds (February and July 2025): Libeara is the tokenisation platform behind China Asset Management (Hong Kong)'s SFC-authorised tokenised retail MMFs, with Standard Chartered Trustee (Hong Kong) as custodian and KPMG as auditor. The HKD fund (February 2025) was Asia's first tokenised retail fund; the RMB fund (July 2025) was the first tokenised MMF in the currency, launched alongside a USD fund (Ledger Insights, Ledger Insights). The USD fund's tokenised Class I (ticker CUMIU, inception 17 April 2025) is the platform's largest asset at US$547.5m via a single on-chain holder; the HKD fund's tokenised Class A USD (CAMMU) remains nominal at US$4,231 across 2 holders (rwa.xyz CUMIU, rwa.xyz CAMMU, both as of 10 June 2026). That one omnibus CUMIU holder accounts for roughly half the platform's US$1.08bn distributed value.
• Delta Wellington Ultra Short Treasury On-Chain Fund ("ULTRA", February 2025): a tokenised US Treasuries fund, a sub-fund of the Singapore-domiciled Delta Master Trust managed by FundBridge Capital with Wellington Management Singapore as sub-manager (Finextra). US$132.1m AUM across Ethereum, Arbitrum, Solana, and Avalanche C-Chain with 15 on-chain holders (rwa.xyz, as of 10 June 2026).

Decommissioned

• SGD Delta Fund: the first tokenised Singapore-dollar government bond fund, issued by FundBridge Capital (the first manager on the platform) with units on Ethereum and Stellar, and the first fund on the platform rated by Moody's (The Block, Libeara). Reported to us as decommissioned (June 2026); no public wind-down notice has been located yet, so the closure date and reason are open research items. Kept here as durable reference: it was the platform's proof-of-concept and the template for ULTRA.

Regulatory perimeter

On 21 August 2025 Libeara received an in-principle approval from MAS for a Capital Markets Services (CMS) licence, which once granted will let it support institutional clients in the distribution of tokenised capital-markets products (Crowdfund Insider). FundBridge Capital, the issuer of the Delta funds, is itself a CMS licence holder regulated by MAS.

Scale and funding

Tokenised assets powered by Libeara surpassed US$1 billion on 26 November 2025 (CryptoNews); as of 10 June 2026 the platform shows US$1.08 billion in distributed asset value across 14 tokenised assets, with network share led by Ethereum (92.6%) ahead of Arbitrum, Solana, and Avalanche C-Chain (rwa.xyz). Trading firm GSR led a funding round to scale the platform (Libeara).

Open questions

• Is issuance digital-native (the on-chain token is the operative unit) or a mirror of an off-chain fund register? The issuance_model field stays unknown until a primary fund document or regulator filing confirms the operative-record status per product.
• Do the ChinaAMC MMF products hold ULTRA as underlying? Reported to us but unverified; tracked as a dashed edge on who holds what.
• The SGD Delta Fund wind-down: closure date, stated reason, and what happened to outstanding tokenised units.
• How does Libeara sit relative to Standard Chartered's broader digital-asset strategy, including the SC Ventures stakes in Zodia Custody and Zodia Markets?