{{$t('PC_Public_Newsroom_01_2')}} DigiFT Introduces First RWA Depository Receipt Tokens To Safeguard Investor’s Rights And Protection On-chain
DigiFT Introduces First RWA Depository Receipt Tokens To Safeguard Investor’s Rights And Protection On-chain

Singapore, 25 March 2024 DigiFT, the first licensed exchange for on-chain real-world assets, announced the launch of the first ever U.S. Treasury Bill depository receipt tokens that represent direct beneficial ownership in the underlying U.S. Treasury Bill. 


Depositary receipts (DR) are a well-tested structure in traditional finance and was first introduced in the late 1920s when J.P. Morgan created the first American Depositary Receipt (ADR) to facilitate trading of the shares of British retailer Selfridges on the New York Stock Exchange (NYSE). The 1990s saw further expansion in the use of depository receipts, including the introduction of Global Depositary Receipts (GDRs) by international banks for investors outside the United States.  


By deploying the DR structure on-chain, DigiFT is proud to have pioneered a token issuance model that addresses a critical market challenge with Real World Asset (RWA) tokenization: the absence of a robust legal framework that enables "tokens" to accurately and, importantly legally, represent the direct beneficial interest of token holders in the underlying asset while facilitating settlement on-chain.  


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 mirror the underlying assets. These wrapped tokens are often structured in complex legal arrangements, making it challenging for investors to fully comprehend the legal implications. Token holders have limited or no direct beneficial claim on the assets they are investing into. In contrast, Tokens issued under DigiFT’s DR structure offer a much more straightforward legal framework, making it easier for investors to understand. The tokens represent a fractional beneficial interest in the underlying capital market securities, allowing investors to legally lay claim to and directly benefit from the economic returns generated by the underlying assets.  


As the first RWA exchange on the public blockchain to be licensed by a Tier-1 financial regulator, DigiFT combines deep financial and deep technological expertise to offer regulated financial solutions on-chain The DigiFT U.S. Treasury Tokens (DRUST) is the first offering of a series, under the DR structure. Each DRUST is directly backed by AA+ rated, highly liquid and short-term U.S. Treasury Bills, tailor-made for stablecoin issuers and Web3 product developer / managers seeking regulatory compliant treasury as well as cash management solutions. Institutional and accredited investors can access DRUST from their authorised self-custodial wallets using fiat or stablecoins anytime anywhere. 


Henry Zhang, Founder and CEO of DigiFT said, “DigiFT's innovative DR structure addresses a pain point in the current RWA market, empowering investors with direct ownership of underlying assets and returns. Looking ahead, DigiFT remains committed to expanding the universe of traditional financial assets in the Web3 space through the DR model, offering better investor protection and transparency. 


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. 


For media inquiries, please contact: M[email protected] 







存托凭证是传统金融领域中经过充分验证的一种发行结构,于1920年代末被首次引入,当时 J.P. Morgan为便于在纽约证券交易所(NYSE)交易英国零售商Selfridges的股票而创建了第一个美国存托凭证(ADR)。20世纪90年代,存托凭证的应用范围进一步扩大,国际银行为美国以外的投资者引入全球存托凭证(GDR)。




目前市面上的大多数RWA代币都是包装代币,代表特殊目的主体、投资基金或衍生工具中持有或反映的底层资产的收益。这些包装代币通常结构复杂,使投资者难以完全理解其法律实质。这种情况下,代币持有人缺乏甚至丧失对所投资产的直接收益权益。相比之下,根据DigiFT的DR结构发行的代币提供了一个令投资者更易于理解的清晰的法律框架。 DR代币代表对底层资本市场资产的持有部分的完全收益权益,使投资者能够合法地主张并直接受益于底层资产产生的经济回报。


作为公共区块链上首家由顶尖金融监管机构监管的RWA交易所,DigiFT融合了深厚的金融和技术专业知识,提供受监管的链上金融解决方案。 DigiFT美国国债代币(DRUST)是DR结构下系列资产的首次发行。每个DRUST代币都直接由AA+评级、高流动性的短期美国国债支持,专为稳定币发行者和寻求符合监管的财务和现金管理解决方案的Web3产品开发者/项目方量身定制。机构投资者和合格投资者可以随时随地通过其授权的自托管钱包,使用法币或稳定币投资DRUST。


DigiFT创始人兼首席执行官Henry Zhang表示:“DigiFT的创新DR结构解决了当前RWA市场的一大痛点,赋予投资者对底层资产和回报的直接所有权。展望未来,DigiFT将通过DR结构进一步将传统金融资产引入Web3世界,并提供更高水准的投资者保护力度和透明度。”










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