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Singapore, Singapore, April 8th, 2024, Chainwire
<a href="https://www.digift.sg/index" rel="noopener noreferrer nofollow">DigiFT</a>, the first on-chain Real World Asset (RWA) exchange regulated by the Monetary Authority of Singapore (MAS), is proud to announce the launch of its second-series RWA depository receipt (DR) token. The DigiFT USD Money Market Fund Token (DMMF), aims to offer a new cash management option for investors interested in exploring alternatives within the crypto space.
According to the company, the launch of DMMF token comes at a time when the demand for tokenized financial products is rising. DigiFT asserts that the recent success of <a href="https://www.bloomberg.com/news/articles/2024-03-27/blackrock-tokenized-fund-draws-160-million-in-week-since-debut" rel="noopener noreferrer nofollow">BlackRock's tokenized fund</a>, which drew $160 million in just a week since its debut, is an evidence of that. This underscores a 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 that is managed by an established and licensed fund manager that invests in high-quality, short-term money market instruments and debt securities, including government and corporate bonds, commercial bills, and deposits with eligible financial institutions. 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 is designed to offer stablecoin holders interested in treasuries or cash solutions an additional option for exploring stablecoin yield. According to CoinDesk, the market cap of stablecoin is projected to grow from US$150 billion today to about <a href="https://www.coindesk.com/business/2023/06/20/tokenization-could-be-a-5t-opportunity-led-by-stablecoins-and-cbdcs-bernstein/" rel="noopener noreferrer nofollow">US$3 trillion over the next 5 years.</a>&nbsp;The token's distinctive issuance structure, based on DigiFT's innovative DR model, ensures that each DMMF token directly represents a share of the underlying securities' income rights. This model, pioneered in <a href="https://www.digift.sg/announcements/first-rwa-depository-receipt-tokens.html" rel="noopener noreferrer nofollow">DigiFT U.S. Treasury Bill depository receipt token</a> released recently enables the DMMF token to accurately and importantly legally, represent the direct interest of token holders in the underlying asset while facilitating settlement on-chain.
<blockquote>
 Henry Zhang, Founder and CEO of DigiFT, expressed his excitement about the launch: "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. By tokenizing money market funds, we are further bridging the gap between traditional assets and digital finance, offering investors a dependable and profitable way to manage their assets on-chain."
</blockquote>
As the financial industry continues to evolve, DigiFT remains at the forefront, dedicated to providing innovative solutions that meet the changing needs of investors and institutions. The launch of DMMF is a testament to this commitment, establishing 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 <a href="https://www.digift.sg/" rel="noopener noreferrer nofollow">DigiFT</a>.
Disclaimer: This article is not an advertisement making an offer or calling attention to an offer or intended offer
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.
DigiFT’s founding team comprises executives who have held positions within the finance and fintech worlds at Citi, Standard Chartered, Morgan Stanley, Shenzhen Stock Exchange and possess deep blockchain technology knowledge, having successfully developed digital asset exchange and products in the past.
ContactPR HeadEvelyn XiongDigiFTmedia@digift.com.sg
Disclaimer: This is a sponsored press release and is for informational purposes only. It does not reflect the views of Crypto Daily, nor is it intended to be used as legal, tax, investment, or financial advice.

DigiFT Launches US Dollar Money Market Fund Token To Offer Stablecoin Holders An Actively Managed Investment Solution On-chain

Crypto Daily™

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