First Abu Dhabi Bank partners with tokenized lending platform Libre

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Foresight News reported that, according to CoinDesk, First Abu Dhabi Bank (FAB) and tokenization platform Libre Capital have signed a memorandum of understanding to provide blockchain-based RWA token-collateralized lending services to approved borrowers. Libre Capital has currently issued around $150 million in tokenized assets, including Brevan Howard funds, Hamilton Lane fixed income products, and BlackRock money market funds. The project is named "Project HODL" (High-Yield Optimized Decentralized Liquidity) and will operate on the Ethereum, Polygon, Solana, NEAR, Aptos, and Coinbase's Layer2 network Base. Libre founder and CEO Dr. Avtar Sehra revealed that the platform had previously proposed to MakerDAO in September to use its RWA tokens as collateral. Currently, Libre is collaborating with brokers and existing lenders like Laser Digital to obtain stablecoin credit lines through institutions like FAB.

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