The post FAB Partners with Libre Capital for Blockchain-Based Asset Lending appeared on BitcoinEthereumNews.com.

TLDR First Abu Dhabi Bank (FAB) partners with Libre Capital for blockchain-based lending using tokenized assets as collateral Libre has issued approximately $150 million in tokenized versions of major investment funds The pilot program will allow approved lenders to use RWA tokens as collateral for stablecoin lending Project operates across multiple blockchain networks including Ethereum, Polygon, and Solana The initiative is part of Libre’s “Project HODL” for optimized decentralized liquidity First Abu Dhabi Bank (FAB), a leading financial institution with assets of $335 billion, has entered into a partnership with Libre Capital to launch a blockchain-based lending program using digital tokens as collateral. The collaboration was formalized through a Memorandum of Understanding (MoU) signed in the United Arab Emirates. The new initiative enables approved lenders to use real world asset (RWA) tokens as collateral for stablecoin lending. These tokens represent digitized versions of traditional investment products, including funds from established firms like Brevan Howard, Hamilton Lane, and BlackRock. Libre Capital, which began operations in March 2024, has already issued approximately $150 million worth of tokenized assets. These include various investment vehicles, such as Brevan Howard funds, Hamilton Lane’s fixed-income products, and a BlackRock money-market fund. The program operates across multiple blockchain networks, demonstrating its broad technological reach. These networks include Ethereum, Polygon, Solana, NEAR, Aptos, and Coinbase’s layer-2 network BASE, providing flexibility and accessibility for users. The initiative falls under Libre’s “Project HODL,” which stands for High-Yield Optimized Decentralized Liquidity. This project aims to create new utility for assets under management through collateralized lending mechanisms. Dr. Avtar Sehra, founder and CEO of Libre, explained the technical aspects of the program. “We’ve been working on adding utility to our AUM in the form of collateralized lending,” he said. “It’s an on-chain infrastructure that allows these RWAs to be used as collateral.”…

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Filed under: News - @ December 10, 2024 10:21 am