Singapore, 14 November 2025 – Hydra X, a MAS-regulated digital asset custodian, has launched the Delta Wellington Ultra Short Treasury On-Chain Fund (“ULTRA Fund”) on the Canton Network. Delivered in collaboration with Libeara, and with QCP Group (“QCP”) as an anchor institutional investor, this marks an important step in integrating regulated fund structures into interoperable blockchain environments, where tokenised real world assets may serve as eligible collateral across institutional workflows.

Hydra X provides regulated custody for the ULTRA Fund tokens and, through corresponding Canton tokens, enables their representation on the Canton Network, a purpose-built infrastructure designed for regulated, privacy-enabled, and interoperable financial applications. This allows institutional investors to gain blockchain-based exposure to the ULTRA Fund within a compliant and interoperable framework. 

“This deployment isn’t just a proof of concept, it’s a live demonstration of how regulated, yield-generating fund products can operate seamlessly across blockchain networks,” said Mark Tang, VP, Client Solutions at Hydra X. “We’re proud to support this milestone as the first licensed custodian in APAC on the Canton Network, and to help set the groundwork for tokenised assets to be integrated into institutional collateral workflows.”

The launch on the Canton Network marks another example of the growing appeal of  infrastructure purpose-built for regulated finance. As a privacy-enabled and interoperable Layer 1 protocol, the Canton Network is designed to meet the compliance, confidentiality, and scalability requirements of financial institutions.

“The deployment of the ULTRA Fund demonstrates the Canton Network’s ability to support regulated financial products at scale,” said Georg Schneider, Head of Financial Products at Digital Asset. “We’re excited to see Hydra X and Libeara leverage Canton’s compliance-first architecture to enable tokenised assets that can be confidently used across institutional workflows.”

Structured and tokenised by Libeara, the ULTRA Fund is a tokenised U.S. Treasury strategy issued by FundBridge Capital, a fund manager regulated by the Monetary Authority of Singapore (MAS), with Wellington Management — one of the world’s largest independent asset managers with over USD 1 trillion in assets under management — serving as sub-advisor. 

“We are pleased to support the infrastructure enablement of ULTRA on the Canton Network in collaboration with Hydra X,” said Aaron Gwak, Founder and CEO of Libeara. “This proves that regulated funds can operate within tokenised, interoperable environments while meeting institutional requirements.”

“This deployment underscores our continued focus on delivering regulated investment strategies through trusted digital infrastructure,” said Sue Lynn Lim, CEO of FundBridge Capital. “By enabling interoperability with the Canton Network, we are reinforcing our commitment to innovation, while meeting the rigorous standards expected by institutional investors.” 

QCP has become the first institutional investor to subscribe to the ULTRA Fund on the Canton Network, providing a live, production use case for tokenised U.S. Treasury exposure within a compliance-first, interoperable environment that can plug into institutional collateral and settlement workflows.

“We’re pleased to be the first institutional investor to go live with the ULTRA Fund on the Canton Network” said Darius Sit, Founder of QCP. “Pairing Hydra X’s regulated custody with Canton’s privacy-enabled interoperability gives us a production-grade path to hold and mobilise tokenised Treasury exposure within our existing institutional workflow”. 

Hydra X is actively working with institutional counterparties to scale tokenised infrastructure across the Canton Network, supporting the next phase of real-world asset adoption in regulated capital markets. The successful launch of the ULTRA Fund reflects a broader institutional shift from pilot projects to production-grade deployments — from tokenised money market funds by Goldman Sachs and BNY Mellon, to fractionalised real estate and sovereign bonds across Asia and the Middle East. As demand grows for compliant, interoperable infrastructure, Hydra X’s regulated custody and deployment capabilities position it as a key enabler of institutional tokenisation.

About Hydra X 

Hydra X is a regulated capital markets infrastructure company, developing technology and financial services to power the next generation of tokenized financial markets. Its comprehensive solutions span the entire capital markets lifecycle, from securitization, primary issuance and secondary trading, to custody and settlement. 

As a regulated digital asset custodian licensed by the Monetary Authority of Singapore, Hydra X provides institutional-grade custodial services for a broad range of digital assets, including security tokens and digital payment tokens, and is one of the largest security token custodians in APAC.

For more information, visit our website or Linkedin.