DigiFT completes the inaugural list of a regulatory compliant security token with an automatic trading mechanism for Market Maker on the Ethereum blockchain.
SINGAPORE, Aug 1, 2022 /PRNewswire/ — DigiFT successfully issued a one-month security token by Diners Club (Singapore) Private Limited (“DCS”) on 1 Augustst2022. It is the first regulatory compliant security token launch on a public chain (Ethereum) with an Automatic Market Maker (AMM) liquidity pool.
Unlike a conventional exchange, the SMP automatically provides adequate market liquidity without requiring active market makers to issue buy and sell orders. With AMM, liquidity providers contribute their security tokens into liquidity pools managed by a smart contract and earn commissions when traders exchange the security tokens.
DigiFT, founded in 2020 by Wanli Lic and Henry Zhangaims to be the first regulated decentralized stock exchange and currently operates in the Monetary Authority of Singapore’s FinTech Regulatory Sandbox (“Sandbox”) as an exempt recognized market operator licensed to provide capital markets services. The blockchain-based exchange is the first decentralized financial trading platform to be admitted to the Sandbox. It facilitates the primary supply and secondary trading of security tokens backed by financial assets. As a result, investors can trade directly from their digital wallets after completing a know-your-client onboarding process.
DCS is a franchisee of Diners Club International Ltd., a direct banking and payment services company owned by Discover Financial Services, one of the most recognized brands in US financial services. The company has a customer base of approximately 250,000 in Singapore from June 2022.
mr. Henry Zhang, the CEO of DigiFT, said: “The completion of the first security token offering on our decentralized exchange is an important milestone. Our clients are now the first in the world to be able to trade real-world assets on a public blockchain. We enable companies to access an alternative source of capital while providing secondary liquidity to investors. It showcases our team’s technology and financial expertise, while highlighting the value proposition of blockchain technology when applied to financing in a regulatory-compliant manner.”
Note: This is not an advertisement in which an offer is made or attention is drawn to a (proposed) offer.
DigiFT aims to provide regulated decentralized financial solutions on the Ethereum public blockchain. We are launching the first regulatory exchange of digital assets. Asset owners can issue blockchain-based security tokens on our platform and investors can trade with continuous liquidity through the Automatic Market Maker mechanism. We are a global organization supported by renowned venture partners. The founding team comes from Goldman Sachs, UBS, Citibank and Morgan Stanley. It has in-depth knowledge of blockchain technology and has successfully developed the exchange of digital assets and products in the past.
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