What TradFi Layer 2 with Polygon (MATIC) will bring at launch — DailyCoin
- Libre, a tokenization protocol backed by several large institutional investors and powered by Polygon’s CDK, has been launched.
The first institutional blockchain on Ethereum Layer 2 will give users access to alternative and money market funds at launch.
According to Polygon, other large institutional investors will also join the network.
In January 2024, some of the biggest names in institutional blockchain adoption announced plans to launch the first-ever trader-focused Ethereum Layer 2 blockchain using Polygon’s technology stack, CDK, which caused a big stir in the Polygon ecosystem (MATIC).
Just over two months later, the protocol, dubbed Libre, went live, giving eligible investors access to alternative investments and money market funds, as well as announcing exciting new features in the near future.
Laser Digital, a subsidiary of Japan’s largest investment bank Nomura Group, alternative investment giant Brevan Howard, Brevan Howard itself, Hamilton Lane and WebN, an incubation center backed by tokenization pioneer Avtar Sehra. The group backed Libre, a tokenization-focused second-tier platform designed to facilitate blockchain adoption by institutional investors by providing a platform for institutional investors to issue tokenized and compliant alternative investments.
Libre is a ZK L2 blockchain specializing in tokenization. Libre currently provides institutional investors with a compliant way to tokenize alternative assets while providing a platform for issuing alternative investments such as Brevan Howard hedge funds and BlackRock money market funds. It provides access to efficient funds on the blockchain.
At launch, Libre provides users with access to the Brevan Howard Master Fund (BHMF) and US dollar-denominated money market funds managed by BlackRock. According to Mr. Seiler, in addition to alternative investments and money market funds, Libre plans to introduce other features, such as secured lending, over time.
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