Singapore’s DigiFT Launches Perpetual Bond Referenced Token for Web3 Investors

DigiFT, a Singapore-based decentralized digital asset exchange (DEX), has launched its first Perpetual Bond Referenced Token (PBRT01). The PBRT01 is issued by Red Cedar Digital Pte Ltd and is backed by the Barclays 8% Perpetual Bond held in custody with Citibank. It is offered to accredited investors in both USD and USDC and allows Web3 investors to access fixed-income products without the need for a bank account.

The PBRT01 is aimed at providing a solution to the high correlation and volatility nature of crypto assets, and will allow investors to deploy their capital into real-world assets and earn a stable passive income. The tokenized fixed-income products like PBRT01 can help investors diversify their holdings, reduce exposure to potential crypto crashes, and serve as a treasury management solution for companies with USDC holdings.

Investors can trade PBRT01 on-chain via Automated Market Maker (AMM), Over-the-Counter (OTC), and Peer-to-Peer (P2P) trading or off-chain via redemption from the issuer. The convenience of real-time trading and instant settlement will enable investors to enjoy higher liquidity and full ownership of the tokens via their digital wallets.

DigiFT was founded in 2020 and is the first and only DEX enrolled within the Monetary Authority of Singapore (MAS) FinTech Regulatory Sandbox. The company believes that an exchange can use advanced blockchain technology and be regulated at the same time. Recently, the company raised USD 10.5 million in its Pre-Series A funding, led by Shanda Group, and is striving to provide a comprehensive platform to investors that delivers a user-oriented token form of securitization.

PBRT01 is an exciting step for DigiFT and the broader Web3 ecosystem. It demonstrates how blockchain technology can support real-world asset management on-chain and offers risk-averse investors the opportunity to trade security tokens with smaller capital outlays. DigiFT’s move to enable RWAs tokenization in a regulatory-compliant manner marks a significant milestone in bridging the gap between DeFi, CeFi, and traditional finance.

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