Business
[PRESS RELEASE – Singapore, Singapore, April 8th, 2024]
DigiFT, the most important on-chain Steady World Asset (RWA) exchange regulated by the Monetary Authority of Singapore (MAS), is proud to announce the initiating of its 2d-sequence RWA depository receipt (DR) token. The DigiFT USD Money Market Fund Token (DMMF), objectives to provide a brand recent cash management chance for investors in exploring alternatives one day of the crypto dwelling.
In accordance to the company, the initiating of DMMF token comes at a time when the demand for tokenized financial merchandise is rising. DigiFT asserts that the recent success of BlackRock’s tokenized fund, which drew $160 million in precisely per week since its debut, is an evidence of that. This underscores a rising pastime in tokenized funds as stunning funding autos within the digital asset market.
The DMMF token represents an instantaneous precious pastime in a cash market fund that’s managed by an established and licensed fund manager that invests in top quality, temporary cash market devices and debt securities, together with authorities and company bonds, industrial bills, and deposits with eligible financial establishments. Partnering exclusively with licensed establishments in Singapore, the DMMF token is designed to present a actual and compliant funding resolution for investors.
Issued on Ethereum and Arbitrum, the DMMF Token is designed to provide stablecoin holders in treasuries or cash solutions an extra chance for exploring stablecoin yield. In accordance to CoinDesk, the market cap of stablecoin is projected to develop from US$150 billion today to about US$3 trillion over the next 5 years. The token’s distinctive issuance structure, in accordance with DigiFT’s modern DR mannequin, ensures that every DMMF token straight represents a fraction of the underlying securities’ profits rights. This mannequin, pioneered in DigiFT U.S. Treasury Invoice depository receipt token released currently enables the DMMF token to precisely and importantly legally, describe the disclose pastime of token holders within the underlying asset while facilitating settlement on-chain.
Henry Zhang, Founder and CEO of DigiFT, expressed his pleasure about the initiating: “The unlock of the DigiFT Money Market Fund Token marks a significant milestone in turning in top-notch cash management solutions to the on-chain economy. By tokenizing cash market funds, we’re extra bridging the gap between worn sources and digital finance, offering investors a loyal and a hit draw to manage their sources on-chain.”
As the financial change continues to evolve, DigiFT remains at the forefront, devoted to providing modern solutions that meet the changing desires of investors and establishments. The birth of DMMF is a testament to this dedication, establishing a brand recent standard for cash management within the web3 generation.
For extra records about DMMF and DigiFT’s recent expansion into Hong Kong, users can lope to DigiFT.
Disclaimer: This article is not any longer an commercial making an provide or calling attention to an provide or meant provide
About DigiFT
DigiFT is the most important regulated exchange for on-chain precise-world sources, licensed as a Recognised Market Operator with a Capital Markets Companies license by the Monetary Authority of Singapore. DigiFT enables asset house owners to subject blockchain-essentially essentially based safety tokens and investors can change with continuous liquidity through an Automated Market Maker (AMM).
Established in Singapore in 2021, DigiFT is fully committed to assembly regulatory requirements to operate within the capital markets dwelling in Singapore, while providing modern financial solutions that push the boundaries of financial products and services in a responsible manner.
DigiFT’s founding crew comprises executives who luxuriate in held positions one day of the finance and fintech worlds at Citi, Standard Chartered, Morgan Stanley, Shenzhen Stock Exchange and luxuriate in deep blockchain skills records, having efficiently developed digital asset exchange and merchandise within the past.
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