DigiFT secures MAS approval for enhanced financial operations

DigiFT, a leading digital assets exchange, has attained regulatory clearance from the Monetary Authority of Singapore (MAS) to administer collective investment schemes and engage in secondary-market trading.

This endorsement from MAS signifies a pivotal advancement for DigiFT, enabling the platform to diversify its financial services and extend its presence within the dynamic digital assets sector.

The granted approval for collective investment schemes empowers DigiFT to facilitate the pooling of resources into professionally managed portfolios, thereby optimizing risk management strategies and broadening exposure to the burgeoning digital assets market.

Concurrently, the authorization for secondary-market trading reinforces DigiFT’s commitment to fostering liquidity and accessibility within the digital assets landscape. This regulatory milestone positions DigiFT to establish a more dynamic secondary market for a diverse spectrum of digital assets, expanding trading opportunities for its users.

MAS’s decision is in alignment with Singapore’s overarching regulatory approach, striking a delicate balance between stimulating innovation and ensuring robust consumer protection and market integrity within the financial sector.

Ahmed Al-Mansoori, CEO of DigiFT, expressed his appreciation for the regulatory green light, stating, “This marks a significant stride for DigiFT, aligning seamlessly with our commitment to delivering innovative and secure financial solutions to our users.”

With regulatory clearance now secured, DigiFT is poised for substantial growth in the forthcoming months, further solidifying its standing as a pivotal player in the ever-evolving digital assets trading landscape.

As DigiFT embarks on this expanded phase, industry observers are closely monitoring the implications of these developments on the digital financial landscape in Singapore and the broader global context.

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Also published on Medium.