Singapore-Licensed DigiFT Introduces US Treasury Bill Depository Receipt Tokens
DigiFT, a Singapore-based fintech company, has made a foray into the digital asset realm with the launch of the its US Treasury bill depository receipt (DR) tokens.
The DR tokens offer investors fractional ownership in the underlying US Treasury bills, enabling investors to gain exposure to the traditionally secure US debt market without the need for substantial upfront capital, the firm said in a Monday press release .
Traditionally, investing in US Treasury bills has required significant financial resources.
DigiFT’s DR tokens aim to dismantle this barrier by allowing investors to purchase fractional shares of these bills.
“DigiFT’s innovative DR structure addresses a pain point in the current RWA market, empowering investors with direct ownership of underlying assets and returns,” Henry Zhang, the founder and CEO of DigiFT, said.
He further emphasized DigiFT’s commitment to expanding the range of traditional financial assets in the Web3 space through the DR model, which offers enhanced investor protection and transparency.
One key aspect emphasized by DigiFT is compliance with regulations, providing investors with peace of mind, the company said.
Traditional asset ownership often involves navigating complex legal and regulatory frameworks.
By adhering to regulations, DigiFT aims to streamline the investment process and make it more accessible for investors.
The company detailed that the DigiFT US Treasury Tokens (DRUST) is the first offering of a series, under the DR structure.
“Each DRUST is directly backed by AA+ rated, highly liquid and short-term U.S. Treasury Bills, tailor-made for stablecoin issuers and Web3 product developer / managers seeking regulatory compliant treasury as well as cash
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