DigiFT Launches DMMF Token to Offer Stablecoin Holders a New Investment Solution
Singapore, Singapore, April 8th, 2024, Chainwire
DigiFT, the first on-chain Real World Asset (RWA) exchange regulated by the Monetary Authority of Singapore (MAS), has announced the launch of its second-series RWA depository receipt (DR) token. The DigiFT USD Money Market Fund Token (DMMF) aims to provide a new cash management option for investors looking to explore alternatives within the crypto space.
The launch of the DMMF token comes at a time when the demand for tokenized financial products is on the rise. DigiFT points to the success of BlackRock’s tokenized fund, which attracted $160 million in just a week since its debut, as evidence of this growing interest in tokenized funds as attractive investment vehicles in the digital asset market.
The DMMF token represents a direct beneficial interest in a money market fund managed by an established and licensed fund manager that invests in high-quality, short-term money market instruments and debt securities. Partnering exclusively with licensed institutions in Singapore, the DMMF token is designed to provide a secure and compliant investment solution for investors.
Issued on Ethereum and Arbitrum, the DMMF Token offers stablecoin holders interested in treasuries or cash solutions an additional option for exploring stablecoin yield. The token’s innovative DR model ensures that each DMMF token directly represents a share of the underlying securities’ income rights, facilitating settlement on-chain.
Henry Zhang, Founder and CEO of DigiFT, expressed his excitement about the launch, stating, “The release of the DigiFT Money Market Fund Token marks a significant milestone in delivering top-notch cash management solutions to the on-chain economy.”
As the financial industry continues to evolve, DigiFT remains committed to providing innovative solutions that meet the changing needs of investors and institutions. The launch of DMMF establishes a new standard for cash management in the web3 era.
For more information about DMMF and DigiFT’s recent expansion into Hong Kong, users can visit DigiFT’s website.
About DigiFT:
DigiFT is the first regulated exchange for on-chain real-world assets, approved as a Recognised Market Operator with a Capital Markets Services license by the Monetary Authority of Singapore. DigiFT allows asset owners to issue blockchain-based security tokens, and investors can trade with continuous liquidity via an Automated Market Maker (AMM).
Established in Singapore in 2021, DigiFT is fully committed to meeting regulatory requirements to operate in the capital markets space in Singapore, while providing innovative financial solutions that push the boundaries of financial services in a responsible manner.
Contact:
PR Head
Evelyn Xiong
DigiFT
[email protected]
Source: https://en.cryptonomist.ch/2024/04/08/digift-launches-us-dollar-money-market-fund-token-to-offer-stablecoin-holders-an-actively-managed-investment-solution-on-chain/
