- DigiFT Declares US Treasury Invoice Depository Tokens Providing Direct Useful Possession of the Underlying US Treasury Invoice
- DigiFT states that circulating tokens have advanced authorized buildings, making it a problem for buyers to know their authorized implications.
- DigiFT’s CEO highlights the way it addresses a key problem within the RWA market.
In accordance with a DigiFT report, DigiFT, the inaugural licensed trade to facilitate on-chain actual asset transactions, has introduced US Treasury Invoice tokens that supply direct useful possession of the underlying US Treasury invoice.
DigiFT has developed a token issuance mannequin utilizing an on-chain Depository Receipt (DR) construction and addresses the “problem” in tokenizing real-world property (RWA). DigiFT ensures that tokens signify token holders’ direct useful curiosity within the underlying asset whereas enabling seamless on-chain settlement.
In accordance with DigiFT’s assertion, the tokens at the moment in circulation are “wrapped up” in advanced authorized buildings, making it troublesome for buyers to know the authorized implications. The tokens to be issued are stated to offer an answer to this downside as they may present a less complicated authorized framework.
Henry Zhang, founder and CEO of DigiFT, stated: “DigiFT’s modern DR construction solves an issue within the present RWA market and permits buyers to immediately personal the underlying property and returns.” The CEO reiterated that DigiFT stays dedicated to increasing the universe of conventional monetary property within the Web3 house by means of the DR mannequin.
The report states that DigiFT US Treasury Tokens (DRUST) would be the inaugural providing in a sequence below the DR construction, offering direct backing from extremely liquid US Treasury payments rated AA+. Moreover, the report prompt that the tokens can be ultimate for stablecoin issuers and Web3 product builders/managers in search of a regulatory-compliant treasury and money administration resolution.
DigiFT introduced in December that it had been awarded the coveted Capital Markets Providers (CMS) license and was acknowledged as a Acknowledged Market Operator (RMO) by the Financial Authority of Singapore (MAS).
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