Singapore blockchain platform DigiFT tokenizes $6.3 billion Invesco private credit fund

ChainCatcher news, according to Bloomberg, the Singapore blockchain platform DigiFT will offer a tokenized version of Invesco's $6.3 billion private credit fund. According to a statement from DigiFT on Wednesday, institutional investors can purchase tokenized shares of the underlying Invesco fund using US dollars or stablecoins USDC and USDT.

DigiFT CEO Henry Zhang stated that the Invesco fund invests in the company's senior secured loans, which have achieved an annual net return of 4.5% since its establishment in 2006. According to data provider rwa.xyz, private credit accounts for about 80% of the tokenized RWA to date.

Invesco, with assets under management of approximately $1.9 trillion, stated in a report last November that by 2030, the asset size of tokenized funds could swell to $60 billion, accounting for about 1% of the total assets managed by mutual funds and exchange-traded funds. Zhang mentioned that DigiFT aims to ultimately provide instant settlement for the tokenized version of the Invesco fund, while the settlement time for the underlying instruments can take up to five days.