According to Henry Zhang, founder and CEO of DigiFT – a decentralized exchange based in Singapore, has received authorization from MAS to begin operating as a secondary trading market.
📢 DigiFT obtains recognition as Recognised Market Operator and Capital Markets Services license from the Monetary Authority of Singapore @MAS_sg
We are proud to announce that DigiFT has been granted a Capital Markets Services (CMS) license and has also been recognized as a… pic.twitter.com/aiG2OBSqZW
— DigiFT (@DigiFTTech) December 5, 2023
DigiFT was founded in 2020 as a decentralized digital asset exchange (DEX) for asset-backed tokens (STO). It aims to provide regulated decentralized finance solutions on the Ethereum public blockchain, providing an Automated Market Making (AMM) mechanism that facilitates secondary trading liquidity for tokens security backed by financial assets.
According to Henry Zhang, founder and CEO of DigiFT, a decentralized exchange based in Singapore, in an interview, he said the exchange has received a Capital Market Services (CMS) license from the Bank. Central last week, along with a Recognized Market Operator (RMO) license on December 1.
This decision is the result of 18 months since DigiFT submitted its application and met strict requirements from the Singapore government.
Henry Zhang, CEO proudly shares:
“DigiFT is the first exchange to have an Auto Market Maker (AMM) mechanism accepted by MAS. This is not easy because MAS evaluates factors such as management capabilities and acceptability of requests for licensing full.”
DigiFT adds to the small list of fully MAS-licensed cryptocurrency companies, joining big names like Circle, Coinbase and Ripple.
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Built on the Ethereum blockchain, DigiFT mainly focuses on products backed by Real World Assets such as stocks and bonds. Investors can register, trade and buy and sell them using fiat money or stablecoins.
