KEY TAKEAWAYS
- Ondo Finance collaborates with Libeara and Wellington Management to enhance the ULTRA Fund’s utility in the Web3 ecosystem.
- The ULTRA Fund offers 24/7 intraday redemptions, crucial for its use as collateral and cross-border settlements.
- Tokenization of the ULTRA Fund maintains a high security rating, promoting trust among institutional investors.
- Ondo Finance is advancing blockchain-powered asset management with real-time redemption capabilities.
Ondo Finance has announced a strategic collaboration with Libeara and Wellington Management to support the Delta Wellington Ultra Short Treasury On-Chain Fund, also known as the ULTRA Fund. This initiative aims to provide intraday redemptions for the tokenized U.S. Treasury fund, enhancing its utility in the Web3 ecosystem.
Libeara, a real-world asset tokenization platform backed by SC Ventures, has partnered with FundBridge Capital to introduce the ULTRA Fund. Wellington Management Singapore Pte. Ltd. will act as the sub-manager for this fund. Ondo Finance will contribute its technology to facilitate 24/7 intraday redemptions, allowing investors to exit their positions as needed. This capability is crucial for the fund’s use as collateral and for seamless cross-border settlements.
The ULTRA Fund is modeled after the SGD Delta Fund, which was the first tokenized fund to receive an Aa rating from Moody’s. This high rating underscores the security and stability of the fund’s structure, demonstrating that tokenization does not inherently alter the risk profile of traditional financial assets. Such standards are essential for gaining the trust of institutional investors and promoting the broader adoption of tokenized assets.
As traditional asset managers increasingly engage with blockchain technology, Ondo Finance positions itself at the intersection of traditional and on-chain finance. The company is also collaborating with other leading asset managers to develop real-time redemption capabilities, further advancing blockchain-powered asset management. More announcements on these developments are expected soon.
For more information, the full announcement can be found here.
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