DigiFT, a decentralised digital asset exchange (DEX) for asset-backed tokens (STO), has successfully launched their first Perpetual Bond Referenced Token (PBRT01). DigiFT officially commenced the AMM trading of PBRT01on 16 March 2023 after its subscription period ended.
PBRT01 is issued by Red Cedar Digital Pte Ltd, an affiliate of DigiFT, and the underlying asset is Barclays 8% Perpetual Bond, held in custody with Citibank. Offered to accredited investors in USD and USDC, PBRT01 allows Web3 investors to access fixed-income products without the need for a bank account.
Investors can opt to encash their assets on-chain through AMM (Automated Market Maker), OTC (Over-the-Counter) and P2P (Peer-to-Peer) trading or off-chain via redemption from the issuer. With the convenience of real-time trading and instant settlement, investors can enjoy higher liquidity and full ownership of the tokens via their digital wallets.
“Given the recent events in the banking and finance industry, we encourage Web3 investors to diversify their holdings. With our new token, we want to provide a solution that mitigates the high-correlation and high volatility nature of crypto assets,” said Mr Henry Zhang, Founder and CEO of DigiFT.
Tokenized fixed-income products like PBRT01 let Web3 investors deploy their capital into real-world assets (RWAs) and earn a stable passive income. Such products can also help to reduce investors’ exposure to potential crypto crashes and is a convenient treasury management solution for companies with USDC holdings.
“PBRT01 shows how blockchain technology is now able to support RWAs management on-chain. Through fractional ownership, risk-averse investors are also able to trade security tokens with smaller capital outlay.”
“This was yet another step for us to bridge the gap between DeFi, CeFi and traditional finance. As a security token DEX, we seek to offer more diversified investment solutions to crypto natives in a regulatory-compliant manner. The accessibility and transparency that technology brings, within a regulatory framework, and backed by our team’s decades of experience in finance, will allow investors to manage their assets better,” added Mr Zhang.
Founded in 2020, DigiFT is the first and only DEX enrolled within the Monetary Authority of Singapore (MAS) FinTech Regulatory Sandbox. With PBRT01, DigiFT is enabling RWAs tokenization that is compliant with regulatory requirements. DigiFT strongly believes that an exchange can both use advanced blockchain technology and be regulated at the same time.
DigiFT recently raised USD 10.5 million in its Pre-Series A funding with the investment round led by Shanda Group. DigiFT strives to provide a comprehensive platform to investors and delivers a user-oriented token form of securitization.
DigiFT, founded in 2020, is a decentralized digital asset exchange (DEX) for asset backed tokens (STO). DigiFT is the first and only decentralized digital asset exchange enrolled in the Monetary Authority of Singapore (“MAS”) FinTech Regulatory Sandbox. It aims to provide regulated decentralized finance solutions on the Ethereum public blockchain offering an Automatic Market Making (AMM) mechanism that facilitates secondary trading liquidity for security tokens backed by financial assets.