DigiFT Launches U.S. Treasury Bill Depository Receipt Tokens
Introduction to On-Chain Real-World Assets
DigiFT, a Singapore-based exchange, has launched the first U.S. Treasury Bill depository receipt tokens. This innovation represents a significant advancement in on-chain real-world asset (RWA) tokenization, offering direct beneficial ownership in U.S. Treasury Bills.
The Evolution of Depository Receipts
Depositary receipts (DR) have long been a staple in traditional finance, facilitating global trading since the 1920s. DigiFT has now adapted this well-tested structure for the blockchain, addressing the legal complexities often associated with RWA tokens.
Addressing Market Challenges
Most RWA tokens currently lack a straightforward legal framework, often representing interest in more complex financial structures. DigiFT's DR structure simplifies this by offering tokens that provide a direct and legal fractional interest in the underlying securities, enhancing transparency and investor comprehension.
DigiFT's Regulatory Edge
As the first RWA exchange licensed by a Tier-1 financial regulator, DigiFT combines financial and technological expertise. The introduction of DigiFT U.S. Treasury Tokens (DRUST) marks the beginning of a series of offerings under this model, backed by highly-rated and liquid U.S. Treasury Bills.
Benefits for Investors
DRUST tokens cater to institutional and accredited investors, providing a regulatory-compliant treasury and cash management solution. These tokens can be accessed through self-custodial wallets using fiat or stablecoins, offering flexibility and security.
Commitment to Innovation
DigiFT is committed to expanding traditional financial assets within the Web3 space, enhancing investor protection and transparency. The firm stands at the forefront of integrating blockchain technology with financial services, driven by a team with extensive experience in finance and fintech.
About DigiFT
Founded in 2021, DigiFT operates as a regulated exchange for on-chain assets in Singapore. It is recognized as a market operator with a Capital Markets Services license, continuously innovating to meet regulatory standards and push the boundaries of financial solutions responsibly.
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