The ULTRA fund partnership combines Libeara’s Delta platform with Wellington’s asset management to bring fund management solutions.
Real-world asset tokenisation firm, Libeara, has announced a strategic collaboration with FundBridge Capital to introduce the Delta Wellington Ultra Short Treasury On-Chain Fund , or ULTRA Fund.
The ULTRA Fund was established under the Delta Master Trust structure set up by FundBridge, which is integrated with Libeara’s Delta platform, and will facilitate the subscription, issuance, transfer, and redemption of tokenised units in the ULTRA Fund.
Accessible via USDC and fiat, and initially deployed on the Ethereum Mainnet, the platform leverages distributed ledger technology to offer investors a seamless and secure experience for its users. The tokenised units will soon be available on Arbitrum, Avalanche, and Solana.
“Our partnership with FundBridge Capital on the ULTRA Fund marks a significant step forward in expanding our tokenisation ecosystem,” said Aaron Gwak, Founder and CEO of Libeara. “This new fund, modelled after the SGD Delta Fund—which became the first tokenised fund to receive a rating of Aa from Moody’s—brings the same level of institutional credibility to USD-denominated investments.”
The Delta Wellington Ultra Short Treasury On-Chain Fund has been well received by the Web3 community, with early interest from stablecoin issuers, exchanges, and decentralised autonomous organisations (DAOs). Mountain Protocol, Drift and Ondo Finance are among the first to engage with this fully on-chain USD treasury solution, with the latter providing its technology for intraday redemptions in support of the tokenised units.
“Tokenisation represents a new frontier in asset management, and we are excited to continue the journey by collaborating with Libeara, FundBridge and Standard Chartered Bank, as custodian, on this pioneering initiative,” said Mark Garabedian, Director of Digital Assets and Tokenisation for Wellington Management. “By leveraging blockchain technology, FundBridge can deliver enhanced access and operational efficiencies to clients, aligning with Wellington’s commitment to providing innovative, best-in-class investment solutions.”
“By participating in the Delta Wellington Ultra Short Treasury On-Chain Fund, we gain exposure to a fully on-chain short-term treasury solution that aligns with our ultra-safe investment mandate and enhances our transparency to users,” said Martin Carrica, CEO and Co-Founder at Mountain Protocol. “We believe this fund and the tight relations with sponsoring entities allow for great operational efficiency and are a step forward in further institutionalising crypto.”
