Moody’s rates Standard Chartered’s first fund on tokenized platform
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Moody’s recently assigned an AA rating to the SGD Delta fund, the first fund to leverage Standard Chartered’s SC Ventures’ Libeara tokenization platform.
Although the underlying assets have AAA credit quality, Moody’s Decide Caution is reflected as the fund manager has a limited track record in managing unit trusts of similar strategies.Tokenized Singapore dollar government bond fund, powered by Fund Bridge Capital Invest primarily in high-quality Singapore government securities on the Ethereum and Stellar blockchains.
Moody’s expects the fund’s credit quality to meet AAA standards, but stresses that the fund manager’s lack of experience will affect the rating. Highlighted are innovative uses of public blockchains, Ethereum (ETH) and Stellar (XLM) to issue tokenized units to increase transparency and facilitate communication between whitelisted investors.
Interest in tokenization is growing as SC Ventures partners with FundBridge Capital to launch the Libeara platform. The platform was conceived by Standard Chartered’s investment and innovation arm, underscoring its commitment to advancing blockchain technology, as evidenced by its participation in the Monetary Authority of Singapore’s Global Retail CBDC Challenge.
