StanChart launches blockchain unit, eyes Singapore bond fund

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SINGAPORE — International bank Standard Chartered’s venture arm on Tuesday launched a new blockchain unit that aims to help tokenize traditional financial instruments, moving rapidly to stake out a bigger presence in the Asian digital assets space. Called “Libeara”, the platform is a technology service provider that was set up to assist institutions in digitalizing financial instruments on blockchains — the infrastructure underpinning cryptocurrencies, with the goal of reducing the need for intermediaries typically involved with trading such instruments. This theoretically raises the efficiency and lowers the cost of buying and selling the assets.

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