Polygon Poised to Drive the Inaugural Ethereum Layer-2 Solution Tailored for Traditional Finance (TradFi)

Polygon Labs Unveils the Libre Chain

Polygon Labs has introduced the Libre Chain, a groundbreaking protocol powered by the Polygon CDK and supported by key players in institutional blockchain adoption.

The Libre Chain aims to provide unparalleled access to global alternative investment funds and expand distribution capabilities for asset managers.

Introducing Libre

Polygon revealed the Libre Chain on the 10th of January through a post on X. This protocol, backed by the Polygon CDK, marks a significant milestone in institutional blockchain adoption. Polygon emphasized that “Institutions have arrived on Polygon.”

“The institutions have arrived on Polygon CDK. For the first time, a financial institution-focused L2 is being built, settling to Ethereum. Introducing Libre, an institutional web3 infrastructure for the distribution of alternative asset funds, launched by WebN and @LaserDigital.”

  • Built with Polygon CDK
  • Focus on the issuance and distribution of tokenized assets
  • Leveraging the security of Ethereum
  • Unlocking broader distribution capabilities for asset managers and wealth advisors
  • Enabling unparalleled access to alternative investment funds for a broader pool of investors

Libre Backers

Libre has garnered support from major players in institutional blockchain adoption:

  • Subsidiary of Japan’s largest investment bank, Nomura Group – Laser Digital
  • WebN Group, backed by alternative investment giant Brevan Howard
  • Hamilton Lane and Avtar Sehra – pioneers in tokenization

Polygon highlighted that the Libre Chain will empower regulated institutions to tokenize and issue alternative investments, fostering broader distribution for asset managers.

“Libre is designed for the legal and regulatory compliant issuance and automated lifecycle management of alternative investments. It empowers regulated institutions globally to create and issue their own on-chain tokenized assets.”

The Ethereum Layer-2 chain is set to go live in Q1 2024, with strategic partnerships already established with Brevan Howard and Hamilton Lane. The Libre team is actively working on additional services such as collateralized lending and automated rebalancing of separately managed accounts.

CEO and founder of Libre, Avtar Sehra, expressed his vision for the project’s future:

“It’s been an honor working with some of the most respected institutions in the traditional finance and Web3 space on bringing the Libre vision to life. While our MVP objective is to increase AUM by launching the primary issuance service and driving distributor integrations, we are also working closely with our partners and clients on our 2024 product roadmap, which includes collateralized lending and automated portfolio rebalancing – building the future of wealth APIs.”

Unlocking New Investment Opportunities

Sandeep Nailwal, co-founder of Polygon, expressed delight in Libre’s choice of Polygon CDK for scalability and security, acknowledging the project’s potential to unlock new investment opportunities:

“We are thrilled to see Libre select Polygon CDK’s scalability and security to revolutionize the alternative investments space. Libre demonstrates the immense potential of blockchain technology to unlock new opportunities for investors globally.”

After the announcement of the Libre Chain, Polygon Labs CEO Marc Boiron emphasized that Polygon CDK is the ideal platform for bringing institutional assets on-chain, with Libre becoming the latest addition to Polygon’s growing multichain ecosystem alongside projects like OKX, Palm Network, and Flipkart.

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