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Singapore, Singapore, April eighth, 2024, Chainwire
DigiFT, the primary on-chain Actual World Asset (RWA) trade 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 buyers fascinated by exploring alternate options throughout the crypto house.
In accordance 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, industrial payments, and deposits with eligible monetary establishments. Partnering completely with licensed establishments in Singapore, the DMMF token is designed to offer a safe and compliant funding answer for buyers.
Issued on and Arbitrum, the DMMF Token is designed to supply stablecoin holders fascinated by treasuries or money options an extra choice for exploring stablecoin yield. In accordance with CoinDesk, the market cap of stablecoin is projected to develop from US$150 billion at the moment to about US$3 trillion over the following 5 years. The token’s distinctive issuance construction, primarily based on DigiFT’s revolutionary DR mannequin, ensures that every DMMF token straight represents a share of the underlying securities’ revenue rights. This mannequin, pioneered in DigiFT U.S. Treasury Invoice depository receipt token launched just lately allows 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 concerning the launch: “The discharge of the DigiFT Cash Market Fund Token marks a big milestone in delivering top-notch money administration options to the on-chain economic system. By tokenizing cash market funds, we’re additional bridging the hole between conventional belongings and digital finance, providing buyers a reliable and worthwhile solution to handle their belongings 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 buyers and establishments. The launch of DMMF is a testomony to this dedication, establishing a brand new normal for money administration within the web3 period.
For extra details about DMMF and DigiFT’s current enlargement into Hong Kong, customers can go to DigiFT.
Disclaimer: This text will not be an commercial making a suggestion or calling consideration to a suggestion or supposed provide
About DigiFT
DigiFT is the primary regulated trade for on-chain real-world belongings, accepted as a Recognised Market Operator with a Capital Markets Providers license by the Financial Authority of Singapore. DigiFT permits asset homeowners to subject blockchain-based safety tokens and buyers can commerce with steady liquidity through an Automated Market Maker (AMM).
Established in Singapore in 2021, DigiFT is totally dedicated to assembly regulatory necessities to function within the capital markets house in Singapore, whereas offering revolutionary monetary options that push the boundaries of economic providers in a accountable method.
DigiFT’s founding workforce contains executives who’ve held positions throughout the finance and fintech worlds at Citi, Customary Chartered (OTC:), Morgan Stanley, Shenzhen Inventory Trade and possess deep blockchain know-how data, having efficiently developed digital asset trade and merchandise up to now.
ContactPR HeadEvelyn XiongDigiFTmedia@digift.com.sg
This text was initially printed on Chainwire