First Digital Trust (FDT), the digital asset spin-off from Legacy Trust, is in the testing phase of Asia’s first instant Rapid Settlement and Clearing Network (RSCN) that will transform the way digital assets are owned, traded and invested in.
“By utilising the immediate settlement network, trust is instant, and immortal. You can keep accurate, private and trustworthy records and trace all activity within the ecosystem. This is advantageous and profitable as people can hold their investments and assets for generations,” said Gunnar Jaerv, COO of FDT.
Set to launch in May, the innovative settlement network will enable safe and efficient settlement of all digital assets under FDT’s custodianship.
Spearheaded by a team with over 25 years of trust and fiduciary experience in traditional assets such as stocks, bonds, mutual funds, insurance policies, gold, commodities and real estate, FDT carries on a legacy to bring institutional focus to the digital asset industry.
By combatting the lack of institutional-ready companies within the digital asset space and encouraging crypto asset class growth, FDT is working towards creating a world where people can trade and transact digitised assets freely without middlemen.
All transactions through the system are settled instantly, 24 hours a day and are not subject to any waiting period. Counterparty risks are eliminated, and they’re settled irrevocably and immediately - enabling more customers to safely transact. FDT’s offshoot from Legacy Trust comes after the company recognised a need to lead the evolution of trust and custody services in the fast-moving digital asset space.