DigiFT and Diners Club complete redemption of first regulatory security token for corporate bonds

– Advertisement –

Singapore, Singapore, September 12, 2022, Chain Wire

As an industry first, Diners Club’s corporate bond has been tokenized and issued with an automated market maker liquidity pool on DigiFT Security Token DEX.

DigiFT will mint 100 NFTs to commemorate its first security token listing.

DigiFT, which aims to provide regulated decentralized finance solutions on the Ethereum public blockchain, has successfully completed the issuance, secondary trading and redemption of a corporate bond security token on its decentralized exchange (“DEX”). To commemorate the completion of DigiFT’s initial listing, 100 NFTs will be minted and air-dropped to partners and various stakeholders.

The one month note issued by Diners Club (Singapore) Private Limited (“DCS”) was fully subscribed when it was first issued on 1st AugustSt, 2022. Investors were able to efficiently trade the security token on DigiFT Security Token DEX, with 80% of transactions being completed via the Automatic Market Maker (“AMM”) mechanism. Unlike a traditional exchange that relies on active market markers to complete a buy or sell order, AMM facilitates secondary market trading via smart contract liquidity pools.

Henry Zhang, CEO of DigiFT, shared: “Our token investors are the first in the world to trade real regulated financial assets on a public blockchain DEX. We will continue to innovate and offer more investment products for digital users in a regulatory compliant way.” Mr. Philip Koh of DCS shared: “The token is a major breakthrough that takes advantage of the blockchain to develop an alternative source of funding.”

Founded in 2020 by Wanli Li and Henry Zhang, DigiFT aspires to become the first regulated decentralized exchange for securities trading and is currently in the FinTech Regulatory Sandbox (“Sandbox”) of the Monetary Authority of Singapore as an Exempted Recognized Market Operator with a Capital Active Markets Services License. The blockchain-based exchange is the first decentralized financial trading platform to enter the sandbox. It facilitates the primary offering 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. The company has a large cardholder base in Singapore.

About DigiFT

DigiFT aims to offer regulated decentralized finance solutions on the Ethereum public blockchain. DigiFT launched the first regulation-compliant exchange for digital assets. Asset owners can issue blockchain-based security tokens on our platform and investors can trade with continuous liquidity via the automatic market-maker mechanism. DigiFT is a global company backed by established venture partners. The founding team comes from Goldman Sachs, UBS, Citibank and Morgan Stanley. It has in-depth knowledge of blockchain technology and has a history of successfully developing digital asset and product exchanges.

For more information, please contact:

[email protected]

contacts

– Advertisement –

Learn Crypto Trading, Yield Farms, Income strategies and more at CrytoAnswers
https://nov.link/cryptoanswers