Singapore’s DigiFT launches US T
announced today the launch of new tokens based on How to register a virtual currency accountthe U.S. Treasury Bills.
The new product adopts the structure of depository receipts, which traditionally involves a certificate reflecting shares of a company outside the local stock market. Using this structure, DigiFT said it offers users direct beneficial ownership of AA+ rated and short-term T-Bills, and will provide a legal stream of returns from underlying securities.
“Presently, the majority of RWA tokens in circulation are wrapped tokens that represent interest in a special purpose vehicle, feeder fund or derivative instrument which holds or mirrors the underlying assets,” the company said in the announcement. “These wrapped tokens are often structured in complex legal arrangements, making it challenging for investors to fully comprehend the legal implications.”
The company stated that its depository receipt structure addresses this issue by providing a “more straightforward” legal framework that would be easier for investors to understand.
DigiFT added that its new RWA token will be suited for stablecoin issuers and Web3 product developers that are looking for regulatory-compliant treasury, as well as cash management solutions. Institutional and accredited investors can also access the new product from authorized self-custodial wallets using fiat currency or stablecoins, according to the announcement.
DigiFT holds a Capital Markets Services License and is a Recognized Market Operator, according to the Monetary Authority of Singapore website.
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