Singapore, Singapore, April eighth, 2024, Chainwire
DigiFT, the primary on-chain Actual World Asset (RWA) change regulated by the Financial Authority of Singapore (MAS), is proud to announce the launch of its second-series RWA depository receipt (DR) token. The DigiFT USD Cash Market Fund Token (DMMF), goals to supply a brand new money administration choice for traders keen on exploring alternate options throughout the crypto area.
In line with the corporate, the launch of DMMF token comes at a time when the demand for tokenized monetary merchandise is rising. DigiFT asserts that the current success of BlackRock (NYSE:)’s tokenized fund, which drew $160 million in only a week since its debut, is an proof of that. This underscores a rising curiosity in tokenized funds as engaging funding automobiles within the digital asset market.
The DMMF token represents a direct helpful curiosity in a cash market fund that’s managed by a longtime and licensed fund supervisor that invests in high-quality, short-term cash market devices and debt securities, together with authorities and company bonds, business payments, and deposits with eligible monetary establishments. Partnering completely with licensed establishments in Singapore, the DMMF token is designed to supply a safe and compliant funding answer for traders.
Issued on and Arbitrum, the DMMF Token is designed to supply stablecoin holders keen on treasuries or money options an extra choice for exploring stablecoin yield. In line with CoinDesk, the market cap of stablecoin is projected to develop from US$150 billion as we speak to about US$3 trillion over the subsequent 5 years. The token’s distinctive issuance construction, based mostly on DigiFT’s revolutionary DR mannequin, ensures that every DMMF token straight represents a share of the underlying securities’ earnings rights. This mannequin, pioneered in DigiFT U.S. Treasury Invoice depository receipt token launched not too long ago permits the DMMF token to precisely and importantly legally, signify the direct curiosity of token holders within the underlying asset whereas facilitating settlement on-chain.
Henry Zhang, Founder and CEO of DigiFT, expressed his pleasure in regards to the launch: “The discharge of the DigiFT Cash Market Fund Token marks a major milestone in delivering top-notch money administration options to the on-chain financial system. By tokenizing cash market funds, we’re additional bridging the hole between conventional property and digital finance, providing traders a reliable and worthwhile technique to handle their property on-chain.”
Because the monetary trade continues to evolve, DigiFT stays on the forefront, devoted to offering revolutionary options that meet the altering wants of traders and establishments. The launch of DMMF is a testomony to this dedication, establishing a brand new customary for money administration within the web3 period.
For extra details about DMMF and DigiFT’s current growth into Hong Kong, customers can go to DigiFT.
Disclaimer: This text just isn’t an commercial making a proposal or calling consideration to a proposal or meant supply
About DigiFT
DigiFT is the primary regulated change for on-chain real-world property, permitted as a Recognised Market Operator with a Capital Markets Companies license by the Financial Authority of Singapore. DigiFT permits asset house owners to situation blockchain-based safety tokens and traders can commerce with steady liquidity by way of an Automated Market Maker (AMM).
Established in Singapore in 2021, DigiFT is totally dedicated to assembly regulatory necessities to function within the capital markets area in Singapore, whereas offering revolutionary monetary options that push the boundaries of economic companies in a accountable method.
DigiFT’s founding crew includes executives who’ve held positions throughout the finance and fintech worlds at Citi, Customary Chartered (OTC:), Morgan Stanley, Shenzhen Inventory Alternate and possess deep blockchain know-how data, having efficiently developed digital asset change and merchandise prior to now.
ContactPR HeadEvelyn XiongDigiFTmedia@digift.com.sg
This text was initially printed on Chainwire
