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HomeFinanceDigiFT Launches US Greenback Cash Market Fund Token to Provide Stablecoin Holders...

DigiFT Launches US Greenback Cash Market Fund Token to Provide Stablecoin Holders an Actively Managed On-Chain Funding Resolution

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Singapore, Singapore, 8 April 2024, Chainwire

DigiFT, the primary on-chain Actual World Asset (RWA) alternate regulated by the Financial Authority of Singapore (MAS), is proud to announce the launch of its second sequence of RWA Depository Receipt (DR) tokens. The DigiFT USD Cash Market Fund (DMMF) token goals to supply a brand new money administration choice for traders all for exploring alternate options within the crypto area.

In keeping with the corporate, the launch of the DMMF token comes at a time when demand for tokenized monetary merchandise is rising. DigiFT says the latest success of tokenized fund BlackRock (NYSE: ), which pulled in $160 million in only one week since its debut, is proof of that. This underlines the rising curiosity in tokenized funds as enticing funding automobiles within the digital asset market.

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The DMMF token represents a direct useful curiosity in a cash market fund 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 licensed monetary establishments. By partnering completely with licensed establishments in Singapore, the DMMF token is designed to supply traders with a secure and compliant funding resolution.

The DMMF token, issued on and Arbitrum, is designed to supply stablecoin holders all for treasury or money options an extra alternative to discover stablecoin returns. In keeping with CoinDesk, the market capitalization of stablecoins is predicted to develop from $150 billion at this time to round $3 trillion over the following 5 years. The distinctive token issuance construction, based mostly on DigiFT’s revolutionary DR mannequin, ensures that every DMMF token instantly represents a share of the income rights of the underlying securities. Promoted within the just lately launched DigiFT US Treasury Invoice token, this mannequin permits the DMMF token to precisely and, importantly, legally signify token holders’ direct curiosity within the underlying asset whereas facilitating on-chain settlement.

Henry Zhang, Founder and CEO of DigiFTexpressed his pleasure concerning the launch: “The discharge of the DigiFT Cash Market Fund Token represents a major milestone in offering cutting-edge money administration options for the on-chain financial system. By tokenizing cash market funds, we additional bridge the hole between conventional property and digital finance, providing traders a dependable and worthwhile approach , tips on how to handle your 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, setting a brand new customary for money administration within the web3 period.

For extra info on DMMF and DigiFT’s latest enlargement into Hong Kong, customers can go to DigiFT.

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Disclaimer: This text just isn’t an commercial providing a proposal or touting a proposal or supposed provide

About DigiFT

DigiFT is the primary regulated actual asset alternate on the chain, accredited as a acknowledged market operator with a capital markets companies license by the Financial Authority of Singapore. DigiFT permits asset house owners to subject blockchain-based safety tokens, and traders can commerce with 24/7 liquidity by way of an Automated Market Maker (AMM).

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Based in Singapore in 2021, DigiFT is absolutely dedicated to assembly the regulatory necessities for working in Singapore’s capital markets whereas offering revolutionary monetary options that push the boundaries of economic companies in a accountable method.

DigiFT’s founding staff consists of executives who’ve held positions on this planet of finance and fintech at Citi, Commonplace Chartered (OTC:), Morgan Stanley, Shenzhen Inventory Alternate and have deep data of blockchain expertise and have efficiently developed digital asset alternate and merchandise prior to now .

ContactHead of PREvelyn XiongDigiFTmedia@digift.com.sg

This text was initially revealed on Chainwire

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