DigiFT Launches DMMF Token: A New Cash Management Option in the Crypto Space

DigiFT Singapore, has introduced its second-series RWA depository receipt (DR) token, the DigiFT USD Money Market Fund Token (DMMF). This token provides investors with a secure and compliant cash management option within the crypto space.

The launch of DMMF comes amidst increasing demand for tokenized financial products, highlighted by the success of BlackRock’s tokenized fund, which raised $160 million within a week of its debut. DigiFT’s DMMF token offers investors a direct beneficial interest in a money market fund managed by licensed fund managers, investing in high-quality, short-term money market instruments and debt securities.

Issued on Ethereum and Arbitrum, the DMMF Token targets stablecoin holders interested in treasuries or cash solutions, providing an additional option for stablecoin yield. The token’s unique issuance structure, based on DigiFT’s innovative DR model, ensures that each token accurately represents a share of the underlying securities’ income rights, facilitating secure on-chain settlement.

Henry Zhang, Founder and CEO of DigiFT, expressed enthusiasm about the launch, stating that it marks a significant milestone in delivering cash management solutions to the on-chain economy. He emphasized DigiFT’s commitment to bridging the gap between traditional assets and digital finance, offering investors reliable and profitable asset management options on-chain.