Introducing DigiFT: Revolutionizing Real-World Asset Tokenization
Pioneering U.S. Treasury Bill Depository Receipt Tokens
DigiFT, the trailblazing exchange for on-chain real-world assets, has unveiled a groundbreaking development: the launch of the first-ever U.S. Treasury Bill depository receipt tokens. These tokens represent direct beneficial ownership in the underlying U.S. Treasury Bill.
A Historical Perspective on Depositary Receipts
Depositary receipts (DR) have a storied history in traditional finance, dating back to the late 1920s when J.P. Morgan introduced the first American Depositary Receipt (ADR). Over time, DR structures evolved, including the advent of Global Depositary Receipts (GDRs) in the 1990s.
The Innovation of On-Chain DR Structure
By deploying the DR structure on-chain, DigiFT has pioneered a token issuance model that addresses a critical challenge in Real World Asset (RWA) tokenization. Traditionally, a lack of robust legal frameworks has hindered the accurate representation of token holders' direct beneficial interests in underlying assets and settlement on-chain.
Advantages of DigiFT's DR Structure
Unlike wrapped tokens prevalent in the RWA market, DigiFT's DR tokens offer a straightforward legal framework. This clarity empowers investors with a direct beneficial claim on the underlying assets, ensuring transparency and comprehension.
The Introduction of DRUST Tokens
DigiFT's inaugural offering under the DR structure is the DigiFT U.S. Treasury Tokens (DRUST). Each DRUST token is backed by AA+ rated, highly liquid U.S. Treasury Bills. Designed for stablecoin issuers and Web3 product developers, DRUST tokens provide regulatory-compliant treasury and cash management solutions.
Access and Accessibility
Institutional and accredited investors can access DRUST tokens from authorized self-custodial wallets using fiat or stablecoins, offering flexibility and ease of use.
The Vision for DigiFT's Future
Henry Zhang, Founder and CEO of DigiFT, emphasizes the company's commitment to expanding traditional financial assets in the Web3 space through the DR model. DigiFT aims to offer enhanced investor protection and transparency while pushing the boundaries of financial services responsibly.
About DigiFT
Established in Singapore in 2021, DigiFT is the first regulated exchange for on-chain real-world assets.
Approved as a Recognized Market Operator with a Capital Markets Services license by the Monetary Authority of Singapore, DigiFT enables asset owners to issue blockchain-based security tokens.
The founding team comprises executives with extensive experience in finance, fintech, and blockchain technology.
Real World Asset Tokenization
DigiFT's introduction of U.S. Treasury Bill depository receipt tokens marks a significant milestone in the realm of Real World Asset tokenization. Through innovative DR structures, DigiFT empowers investors with direct ownership and transparent access to underlying assets, ushering in a new era of financial innovation on the blockchain.
