DigiFT and Chainlink Collaborate To Power Institutional-Grade Tokenization of RWAs

The Singapore-based exchange, regulated by the Monetary Authority of Singapore, is using Chainlink CCIP for money market fund tokens available on the DigiFT platform.

SINGAPORE, Oct. 24, 2024 /PRNewswire/ -- DigiFT, a Singapore-based exchange regulated by the Monetary Authority of Singapore, and Chainlink—the essential infrastructure for the tokenized asset economy—announced today that DigiFT has adopted Chainlink's Cross-Chain Interoperability Protocol (CCIP) to expand the accessibility of money market fund tokens available on the DigiFT platform to new audiences across multiple blockchains. Additionally, DigiFT is adopting Chainlink Proof of Reserve to help verify reserves and secure the minting function of the money market fund tokens on DigiFT's platform. 

DigiFT, which provides financial services for primary issuance and secondary market trading, will benefit from enhanced liquidity for its real-world assets (RWA) tokens by adopting CCIP for secure cross-chain token transfers across multiple chains and as a result improve liquidity on secondary trading markets. Increased liquidity can enable more efficient markets and encourage institutional asset managers to incorporate tokenized assets in their investment strategies. Through the application of CCIP and Proof of Reserve, DigiFT and Chainlink are collaborating to drive institutional adoption of public blockchain and tokenization technology.

"Chainlink CCIP is a foundational technology for enhancing blockchain-based capabilities through secure and seamless interoperability," said Henry Zhang, Founder and CEO of DigiFT. "By adopting Chainlink CCIP and Proof of Reserve, we are not only expanding DigiFT's cross-chain reach but also elevating the transparency, security, and reliability of our tokenized RWA offerings. This collaboration strengthens our ability to create an interconnected ecosystem between Web3 and traditional financial services, driving greater adoption and trust among institutional investors."

"Chainlink CCIP and Proof of Reserve are crucial components for both onchain protocols and traditional financial institutions. We look forward to working with DigiFT to expand the utility and accessibility of their tokenized RWAs with the Chainlink platform," said Vince Turcotte, Head of Business Development, Banking and Capital Markets, APAC at Chainlink Labs.

Chainlink
Chainlink is the universal platform for pioneering the future of global markets onchain. Chainlink has enabled over $16 trillion in transaction value by providing financial institutions, startups, and developers worldwide with access to real-world data, offchain computation, and secure cross-chain interoperability across any blockchain. Chainlink powers verifiable applications and high-integrity markets for banking, DeFi, global trade, gaming, and other major sectors.

About DigiFT
DigiFT is Asia's first regulatory-compliant exchange for on-chain real-world assets to be licensed by the Monetary Authority of Singapore as a Recognised Market Operator and Capital Markets Services provider. DigiFT enables asset owners, particularly financial institutions, to issue blockchain-based security tokens that investors can trade with continuous liquidity using an Automated Market Maker (AMM).

Established in Singapore in 2021, DigiFT is dedicated to meeting regulatory requirements in the markets it operates in, while delivering innovative yet responsible financial solutions that push the boundaries of financial services.

DigiFT's founding team consists of seasoned executives who have held senior positions at Citi, Standard Chartered Bank, Morgan Stanley, and the Shenzhen Stock Exchange. Their combined expertise spans both traditional and decentralized finance, demonstrating proven track records in the digital assets space.

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SOURCE Chainlink; DigiFT