Last Updated on November 15, 2023 by Bitfinsider
SC Ventures, Standard Chartered Bank’s investment and innovation arm, has established Libeara, a tokenization platform.
SC Ventures said Tuesday that Libeara has been incubated as a distinct business located in Singapore. It previously worked on proof-of-concept projects as a finalist in the Monetary Authority of Singapore’s Global Retail CBDC Challenge and as part of the team that created digital platform prototypes utilized by the Hong Kong government, Ghana, and the Philippines.
“Libeara is an exciting new venture: tokenization will make a number of asset classes more widely available,” stated Alex Manson, CEO of SC Ventures. “As we now have institutional grade custody and exchange of digital assets with Zodia Custody and Zodia Markets, Libeara is the next logical step to better serve our customers.”
Aaron Gwak, the creator and CEO of Libeara, a portmanteau of Liberty and Aerarium (the first retail US Treasuries and the Roman Treasury, respectively), formerly worked for the Standard Chartered group for over 16 years. The new startup intends to make it possible for fund managers, governments, and issuers to move real-world assets onto the blockchain or to create “regulated security tokens.”
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