Decentralized cryptocurrency exchange DigiFT will be able to manage secondary market transactions with collective investment products, thanks to the approval it received in Singapore.
According to the announcement made today, DigiFT received a capital markets services (CME) license from Singapore’s central bank MAS.
Thanks to the CME license, the exchange will be able to trade capital market products such as securities or collective investments in tokens. DigiFT, which is also recognized as a market operator by MAS, will be able to operate secondary market transactions via blockchain with security tokens.
Using the Ethereum blockchain, the exchange provides liquidity in the secondary market for security tokens using the automated market maker (AMM) mechanism.
Henry Zhang, CEO of the exchange, said that DigiFT is the first exchange with an automatic market maker mechanism that has been accepted into the sandbox established by MAS for fintech regulations.
DigiFT wants to develop tokenized products over various real-world assets (RWA) using the license it received. Zhang, “There is a huge opportunity globally for the tokenization of assets.” said.