- DigiFT Declares U.S. Treasury Invoice Deposit Receipt Token Providing Direct Useful Possession of the Underlying U.S. Treasury Invoice
- DigiFT states that the tokens in circulation have a fancy authorized construction, making it a problem for traders to know their authorized implications.
- DigiFT's CEO highlights how this addresses key challenges within the RWA market.
DigiFT, the primary licensed alternate to facilitate on-chain buying and selling of real-world property, is a U.S. Treasury Invoice depository that gives direct useful possession of the underlying U.S. Treasury payments, in line with a DigiFT report. A ebook token was introduced.
DigiFT has developed a token issuance mannequin that deploys a Deposit Receipt (DR) construction on-chain to handle the “problem” in tokenizing real-world property (RWA). DigiFT ensures that tokens signify the token holder’s direct useful curiosity within the underlying asset, whereas enabling seamless on-chain settlement.
In response to an announcement from DigiFT, the tokens at the moment in circulation are “wrapped” in a fancy authorized construction, making it troublesome for traders to know the authorized implications. The tokens to be issued will reportedly be an answer to this downside, as they are going to present an easier authorized framework.
Henry Zhang, founder and CEO of DigiFT, mentioned: “DigiFT's revolutionary DR construction addresses the ache factors of the present RWA market and permits traders to straight personal the underlying property and returns. I’ll achieve this.” The CEO reiterated that DigiFT stays dedicated to increasing the scope of conventional monetary property within the Web3 area by way of the DR mannequin.
The report states that DigiFT US Treasury Tokens (DRUST) would be the first product in a sequence based mostly on the DR construction, providing direct backing from extremely liquid US Treasury securities rated AA+. Moreover, the report recommended that the token is good for stablecoin issuers and Web3 product builders/directors looking for regulatory compliant treasury and money administration options.
In December, DigiFT introduced that it had obtained the coveted Capital Market Companies (CMS) license and been acknowledged as a Chartered Market Operator (RMO) by the Financial Authority of Singapore (MAS).
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