The Libre platform plans to tokenize $500 million worth of Telegram’s corporate debt through the Telegram Bond Fund (TBF). The bonds will be issued on The Open Network (TON), marking the first time institutional investors will gain access to Telegram’s debt instruments via blockchain. According to experts, this move could redefine TON’s role in the tokenized real-world assets (RWA) sector.
New Fund and Access to Telegram’s Debt Instruments
It has been reported that Telegram’s total outstanding obligations amount to $2.4 billion, of which $500 million will be digitized and issued on the TON network. Participation in the fund will be limited to accredited investors.
Through TBF, these investors will be able to use the tokenized bonds as collateral within the TON ecosystem, connecting to lending services, liquidity provision, and yield-generating products in decentralized protocols.
How This Could Impact TON
The issuance of Telegram’s bonds on the TON blockchain opens up the ecosystem to the traditional debt market. According to data from RWA.xyz and The Block, the total value of tokenized real-world assets has reached $18.9 billion, marking an 89% increase over the past year. However, corporate bonds have so far made up the smallest portion of this segment.
Libre aims to change this dynamic and position TON as a blockchain tailored for traditional asset integration. Given that Telegram has more than 1 billion monthly active users, TON’s infrastructure has the potential to become the largest entry point to decentralized RWAs.
Support From Libre and Expansion Plans
According to Libre Chairman Jez Mohideen, the platform has already tokenized over $200 million in assets from entities such as BlackRock, Brevan Howard, and Hamilton Lane. These assets were issued across various blockchains, including Injective, a network supported by Binance. Libre now plans to migrate part of these products to the TON network.
A system called Gateway is also in development — an infrastructure solution that will enable investments in tokenized assets using stablecoins and fiat currencies through TON wallets.
MoonPay co-founder Max Crown, who recently became the CEO of the TON Foundation, called the launch of the Telegram Bond Fund a critical step toward integrating regulated traditional assets into the TON ecosystem. The project could establish TON as a blockchain capable of connecting Telegram’s retail users with institutional investors through tokenized financial instruments.
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