Moody's rates first fund to use Standard Chartered's tokenization platform

Moody's has rated the first fund to use the Libeara tokenization platform under SC Ventures, a subsidiary of Standard Chartered Bank. FundBridge Capital in Singapore will issue the SGD Delta Fund on the Ethereum and Stellar blockchains, which is a tokenized Singaporean government bond fund. Despite the credit quality of its underlying assets being AAA-rated, Moody's has given it an AA rating, reflecting the risk of the fund manager's lack of experience in managing unit trusts with similar strategies. The fund will mainly invest in high-quality Singapore government securities, with tokenization implemented on public blockchains to increase transparency and enable whitelist investors to exchange tokenized units with each other.