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Home»TRADING NEWS»DigiFT Launches US Dollar Money Market Fund Token to Provide Actively Managed On-Chain Investment Solutions to Stablecoin Holders
TRADING NEWS

DigiFT Launches US Dollar Money Market Fund Token to Provide Actively Managed On-Chain Investment Solutions to Stablecoin Holders

By Crypto FlexsApril 8, 20244 Mins Read
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DigiFT Launches US Dollar Money Market Fund Token to Provide Actively Managed On-Chain Investment Solutions to Stablecoin Holders
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Singapore, Singapore, April 8, 2024, Chainwire

DigiFT, the first on-chain real world asset (RWA) exchange regulated by the Monetary Authority of Singapore (MAS), is proud to announce the launch of its second series RWA Depositary Receipt (DR) token. DigiFT USD Money Market Fund Token (DMMF) aims to provide a new cash management option for investors interested in exploring alternatives within the cryptocurrency space.

According to the company, the launch of DMMF tokens comes at a time of increasing demand for tokenized financial products. DigiFT claims the recent success of BlackRock’s tokenization fund, which raised $160 million within a week of its debut, is evidence of this. This highlights the growing interest in tokenized funds as an attractive investment vehicle in the digital asset market.

DMMF tokens represent direct beneficial interests in money market funds managed by established and licensed fund managers that invest in high-quality, short-term money market instruments and debt securities, including government and corporate bonds, commercial paper and other debt securities. Make deposits at qualified financial institutions. The DMMF token is designed to provide investors with safe and compliant investment solutions through exclusive partnerships with licensed institutions in Singapore.

DMMF tokens, issued on Ethereum and Arbitrum, are designed to provide stablecoin holders interested in government bonds or cash solutions with an additional option to explore stablecoin yields. According to CoinDesk, the market capitalization of stablecoins is expected to grow from $150 billion today to approximately $3 trillion over the next five years. The token’s unique issuance structure, based on DigiFT’s innovative DR model, ensures that each DMMF token directly represents an income rights stake in the underlying security. Pioneered in the recently launched DigiFT U.S. Treasury Depositary Receipt token, this model allows DMMF tokens to accurately and importantly legally represent token holders’ direct interests in the underlying assets while facilitating on-chain payments.

Henry Zhang, Founder and CEO of DigiFT, expressed his excitement about the launch: “The launch of the DigiFT Money Market Fund Token is an important milestone in delivering the best cash management solutions to the on-chain economy. By tokenizing money market funds, we are further bridging the gap between traditional assets and digital finance, providing investors with on-chain assets. “We are providing a reliable and profitable way to manage chain assets.”

As the financial industry continues to evolve, DigiFT is committed to providing innovative solutions that meet the changing needs of investors and institutions. The launch of DMMF is a testament to this commitment and sets a new standard for cash management in the web3 era.

For more information about DMMF and DigiFT’s recent expansion into Hong Kong, please visit DigiFT.

Disclaimer: This article is not an advertisement, making an offer or calling attention to an offer or intended offer.

About DigiFT

DigiFT is the first regulated exchange for on-chain real assets and has been approved by the Monetary Authority of Singapore as an Authorized Market Operator with a Capital Markets Services License. DigiFT allows asset owners to issue blockchain-based security tokens and investors to trade them with continuous liquidity through an Automated Market Maker (AMM).

Founded in Singapore in 2021, DigiFT is committed to providing innovative financial solutions that push the boundaries of financial services in a responsible manner while meeting regulatory requirements for operating in Singapore’s capital markets.

DigiFT’s founding team consists of executives with deep blockchain technology knowledge who have held finance and fintech positions at Citi, Standard Chartered, Morgan Stanley, and the Shenzhen Stock Exchange, and have successfully developed digital asset exchanges and products in the past. became.

ContactPR HeadEvelyn XiongDigiFTmedia@digift.com.sg

Disclaimer: This is a sponsored press release and is provided for informational purposes only. It does not reflect the views of Crypto Daily and is not intended to be used as legal, tax, investment, or financial advice.

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