DigiFT Exchange has issued the world's first tokenized depositary receipt

DigiFT has introduced the first ever tokenized depositary receipts — DRUST. They represent the direct beneficial ownership of the U.S. Treasury bill that underlies the asset. This is stated in the official press release of the site.

According to the report, the concept of depositary receipts appeared on the market back in the late 1920s. The first such tool was created by the banking giant JPMorgan to facilitate trading in shares of the British retailer Selfridges on the New York Stock Exchange (NYSE).

Traditionally, depositary receipts are a certificate that certifies ownership of securities traded on a foreign exchange. With this tool, investors can easily enter such sites. Now the DigiFT exchange has adapted such a structure, making the process easier for RWA holders.

Each DRUST is directly backed by highly liquid and short-term U.S. Treasury bills rated AA+. The rating indicates that the tokens are designed specifically for issuers of stablecoins and developers or managers of Web3 products.

The representatives of the platform stressed that the main feature of depository receipts issued by DigiFT is the absence of a complex legal framework.

According to them, tokens represent a fractional share in the securities underlying the capital market. This allows investors to legitimately claim the economic profits derived from the underlying assets.

"Our innovative structure solves the pain point of the current RWA market by providing investors with the opportunity to directly own underlying assets and income. Looking ahead, DigiFT continues to strive to expand the universe of traditional financial assets in the Web3 space with the DR model, offering better protection and transparency to investors," said DigiFT founder and CEO Henry Zhang.

Source: https://ru.beincrypto.com/digift-depozitarnaya-raspiska/