Digital Asset Exchange DigiFT Secures CMS and RMO License from Singapore Monetary Authority
DigiFT, a decentralized exchange for digital assets, has obtained a capital markets services (CMS) license from the Monetary Authority of Singapore (MAS).
The license allows DigiFT to engage in capital markets activities, including dealing in securities and units of collective investment schemes through tokens, the company said in a Monday press release .
In addition to the CMS license, DigiFT has also been recognized by MAS as a market operator, granting the exchange the ability to operate an organized market for secondary trading of security tokens on the public blockchain.
“Securing both the CMS licence and RMO recognition is a significant milestone in our journey to enable regulated access to financial opportunities on-chain,” Henry Zhang, founder and CEO of DigiFT, said in a comment.
“As the first exchange on the public blockchain to use an AMM mechanism for secondary trading, we will continue to unlock innovations, as a RMO, in the intersection of finance and blockchain technology, including the tokenisation of real-world assets.”
DigiFT’s platform, which is built on the Ethereum blockchain, offers secondary trading liquidity for security tokens through an automatic market-making mechanism.
The tokens traded on DigiFT are backed by real-world assets such as bonds, equities, and collective investment schemes.
With the CMS license in place, DigiFT plans to introduce a wider range of tokenized real-world assets and Web3 assets, further expanding its offerings to users.
Established in 2021, DigiFT is the first and only decentralized exchange with an automatic market-making mechanism to be enrolled in the MAS fintech regulatory sandbox.
This regulatory sandbox allows innovative fintech companies to test
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