Standard Chartered-backed Libeara launches MG 999 tokenized gold fund in Singapore

Source: Cryptonews Original Title: Standard Chartered-backed Libeara rolls out MG 999 tokenized gold fund in Singapore Original Link: https://crypto.news/standard-chartered-backed-libeara-rolls-out-mg-999-tokenized-gold-fund-in-singapore/ Libeara, a blockchain infrastructure platform backed by Standard Chartered’s venture arm SC Ventures, has launched a tokenized gold investment fund in Singapore.

The fund, developed in partnership with FundBridge Capital, enables professional investors to gain exposure to gold through blockchain-based tokens issued on Libeara’s ledger. Each token is designed to correlate to the spot price of gold.

Key Features

FundBridge stated the structure eliminates traditional vaulting and logistics costs while maintaining price exposure. The fund, named MG 999, is available exclusively to institutional and accredited participants. Unlike traditional gold funds, MG 999 does not hold physical bullion. The tokens are engineered to mirror gold’s market performance, offering a synthetic exposure mechanism.

“FundBridge’s priority is to bridge traditional fund governance with emerging digital infrastructure,” said FundBridge CEO Sue Lynn Lim. “We’ve worked closely with our partners to ensure the framework meets the standards of a regulated fund environment while advancing the use of real-world assets on-chain.”

Expansion and Market Context

The launch extends a trend among established financial institutions to tokenize real-world assets, including bonds, funds, treasuries and precious metals, as blockchain technology expands beyond cryptocurrencies.

SC Ventures has been expanding its digital-assets operations in Asia. The bank holds majority stakes in Zodia Custody and Zodia Markets, both focused on institutional digital-asset services.

The launch coincides with increased global gold demand. Central banks have been increasing their bullion reserves amid concerns about the long-term dominance of the US dollar and geopolitical uncertainty.

Lending Component

MG 999 includes a lending component aimed at Singapore’s jewelry sector. Mustafa Gold, a major retailer in the city-state, has been named the fund’s first borrower. The structure allows Mustafa to secure credit against its gold jewelry inventory while keeping the pieces on display.

“Gold-linked tokens are quite unique and complex,” said Mustafa founder Mustaq Ahmad. “MG 999 lets retailers tap digital innovation and better manage working-capital needs.”