TON and Libre Launch New $500 mn Fund to Tokenize Telegram Corporate Debt

TON Fund:- For big institutions looking to invest, corporate bonds are hard to buy or sell.

But tokenized bonds are easily tradable like crypto. With the mere fractional ownership, they can provide stable income support to the investors.

In a major move towards this and for DeFi-RWA sector, Libre and TON Foundation have come together to launch a $500mn RWA tokenization Fund for Telegram bonds.

The newly launched Telegram Bond Fund ($TBF) aims to tokenize telegram corporate debt in the form of on-chain bonds. Worth around $500 million, TBF is the largest RWA bet in DeFi to date.

$TBF: What is TON-Libre New RWA Fund

The popular web2 messaging platform, Telegram’s corporate debt is worth roughly $2.4 billion. This was primarily issued through bonds which are set to mature in March 2026 with a 7% annual coupon. The messaging platform has historically relied on debt financing to support its operations and growth.

​In 2024, Telegram raised $330 million through an oversubscribed bond sale conducted in March.

Then in 2021, the company issued $1 billion in bonds to address financial obligations. This included a settlement with the U.S. Securities and Exchange Commission (SEC) related to its initial coin offering (ICO) of the Gram token.

And now the new Telegram Bond Fund aims to provide access to these coporate bonds in Defi-native tokenized format to institutional-grade players. The tokenized debt will be executed on the TON blockchain and will serve as yeild bearing tool for investors.

These tokenized funds will be accessible 24/7 on the TON blockchain using TON-native crypto wallet.

Libre Leading the Tokenization of Telegram’s Corporate Bonds

Libre, the partner in this fund launch, will provide the required infrastructure in bringing the funds on-chain. It also plans to bring future bond issuances by the company on-chain.

In simple words, Libre will use the $550 mn TBF fund as collateral for On-chain borrowing of Telegram’s corporate  bonds. It will then subsequently provide yield bearing products to investors.

According to the press release shared with Coingape, the tokenized debt can be subscribed using fiat or stablecoins. This will be executed using RWA-focused layer-1 blockchain, Libre’s Gateway Infrastructure on TON.

The integrated Libre infra will allow investors to make subscriptions, redemptions, and transferability of tokenized funds.

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Boost for RWA Market?

The TON Fund lauch comes as the RWA sector continues to grow. By issuing tokenized bonds on TON, the fund will increase real-world asset (RWA) activity on the network.

After the recent Mantra collapse, the sector has rebounded. Its total market cap is expected to reach $50 billion by this year.

However, as of writing, the RWA sector is down 2.84% with two RWA-focused coins, PLUME and Creditcoin (CTC) rising 4% and 5% respectively.

The move also aligns with Telegram’s broader integration of blockchain technology. The company has been actively incorporating TON into its platform.

It is  offering features such as in-app cryptocurrency wallets and decentralized applications (dApps) to play a major role in the Web3 ecosystem.

Further, as the company eyes potential IPO by March 2026, Telegram’s bonds are convertible into equity.

Thus, this fund-led tokenization of its corporate debt can mark a strategic shift toward embracing blockchain solutions for capital raising.

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Disclaimer: The content may include the personal opinion of the author and is subject to market conditions. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.