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Home»EXCHANGE NEWS»DigiFT unveils USD money market token for on-chain investment!
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DigiFT unveils USD money market token for on-chain investment!

By Crypto FlexsApril 8, 20243 Mins Read
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DigiFT unveils USD money market token for on-chain investment!
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DigiFT, the groundbreaking on-chain real world asset (RWA) exchange approved by the Monetary Authority of Singapore (MAS), has announced the launch of its latest generation product, the DR2 RWA token. Digital Assets Financial Trust Company (DAFTR) has launched a new game-changing token for investors looking to capitalize on cryptocurrency opportunities: the DigiFT USD Money Market Fund Token (DMMF).

The emergence of DMMF coins comes along with the tremendous growth of these types of cryptocurrency products. This highlights the shift in investment strategies towards innovative technologies in the digital asset market. DigiFT’s move is driven by its desire to replicate the great performance of analogue counterparts, such as BlackRock’s tokenized fund, which announced an astonishing $160 million in capital within the first week of launch. This shows that this trend is growing among investors whose biggest attraction to cryptocurrencies is profitability.

The DMMF token is designed as a direct beneficial interest in money market funds managed by reputable, licensed fund managers, thereby providing investors with exposure to a pool of high quality short-term money market instruments and debt securities. This includes holdings of deposits, government and corporate bonds and commercial paper in approved financial institutions under Singapore’s financial sector’s existing safeguards framework. The tokens are available on the Ethereum and Arbitrum networks, equally for stablecoin holders looking for treasury/cash solutions with new ways to earn higher returns.

The stablecoin market is expected to surpass all expectations and is expected to grow from approximately $150 billion to approximately $3 trillion over the next five years. Based on DigiFT’s innovative DR model, DMMF tokens’ unique issuance structure ensures that each token shares the beneficial interest in the underlying security. This provides a legal representation of token holders’ rights to their assets and paves the way for on-chain payments, a feature first introduced with DigiFT’s U.S. Treasury Deposit Receipt token.

Henry Zhang, Founder and CEO of DigiFT, shared his enthusiasm for this new development: “The launch of the DigiFT Money Market Fund token is an important step in providing advanced on-chain cash management solutions. This is not just a money market fund tokenization effort. “It is a strategy to bridge the gap between traditional financial assets and the digital economy by providing stable returns on-chain for asset management.”

As the financial sector continues to adopt blockchain and digital assets, DigiFT aims to drive this change by providing the best solutions for the unique financial needs of customers, from individuals to complex institutions. The emergence of the DMMF token represents a solid purpose to open a new path for cash management and the blend of traditional and digital finance, designed explicitly for an era like never before: the web3 economy.

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