Libeara, a tokenization platform backed by Standard Chartered’s SC Ventures, launched the MG 999 tokenized gold fund in Singapore to give professional and institutional investors blockchain-based exposure to gold’s spot price. The offering, created in partnership with licensed fund manager FundBridge Capital (CMS100668), was unveiled around December 9, 2025 and targets digitized access and working-capital solutions for the gold retail sector.
The MG 999 fund issues on-chain tokens engineered to mirror the market performance of physical gold rather than representing title to specific bars, providing blockchain-based exposure to gold’s spot price without direct bar ownership. In this context, tokenization converts traditional fund units into regulated digital tokens recorded on a blockchain ledger, seeking to streamline distribution while maintaining oversight.
The structure aims to remove certain custody and logistical costs tied to physical gold ownership while preserving a regulated fund wrapper managed by FundBridge Capital, combining operational efficiency with governance.
Mustafa Gold is named as the initial borrower for the product, positioning the fund as a financing and liquidity tool for gold retailers. “MG 999 will enable gold retailers to capitalise on innovation in the digital space and help to better manage working capital needs,” said Mustaq Ahmad, founder of Mustafa Gold, underscoring the fund’s role in supporting working-capital optimization across the retail gold supply chain.
Regulatory and strategic context
FundBridge Capital operates under a Monetary Authority of Singapore (MAS) licensing regime, which frames MG 999’s governance and compliance and enables offering the fund to professional and institutional participants. Singapore’s regulatory stance is presented in the launch materials as supportive of tokenized assets, reflecting previous approvals and pilot activity in tokenized funds and digital-asset initiatives, thereby providing regulatory clarity and institutional infrastructure for distribution.
Libeara was incubated by SC Ventures as part of Standard Chartered’s broader push into digital assets and RWA tokenization. The venture arm projects a sharp expansion in the RWA market, citing a rise from $35 billion today to $2 trillion by 2028, and is preparing a $250 million fund targeted at digital-asset infrastructure investments. The MG 999 rollout illustrates a multi-pronged strategy to productize tokenized exposure to a traditional safe-haven asset while building the technical and commercial plumbing for future RWA issuance and custody services.
The MG 999 fund combines a regulated fund structure with tokenized distribution to address liquidity and capital needs in the gold retail sector while testing market appetite for asset tokenization in Singapore.
