Libre, a regulated real-world asset tokenization firm, in partnership with the TON Foundation, has launched the Telegram Bond Fund ($TBF), a $500 million on-chain fund that tokenizes a portion of Telegram's outstanding corporate debt on the TON blockchain. The TBF provides institutional and accredited investors with compliant, blockchain-based access to Telegram's yield-bearing bonds, which total approximately $2.35 billion in outstanding debt. Investors can subscribe using fiat or stablecoins and manage their holdings through TON-native wallets. Libre, which has previously tokenized over $200 million in assets for institutions such as BlackRock, Brevan Howard, Hamilton Lane, and Nomura's Laser Digital, will manage subscriptions, redemptions, and custody of the tokenized bonds. The tokenized bonds can be used as collateral for on-chain borrowing and integrated into DeFi yield-generating strategies within the TON ecosystem. Libre is responsible for regulatory compliance, and the initiative leverages TON's network, which aims to connect Telegram's user base of over 950 million with decentralized financial products.