First Digital Trust bags $3m investment led by Nogle
First Digital Trust (FDT), the digital asset arm of Hong Kong’s Legacy Trust, has secured a $3 million investment led by Nogle, the Taiwanese sustainable venture studio.
Legacy Trust CEO Vincent Chok at invest:asia last September
The investment from Nogle, which also backs the fintech behind Hong-Kong’s largest e-wallet TNG, comes as FDT readies its launch of what it calls Asia’s “first rapid settlement and clearing network (RSCN)” set to arrive in May.
FDT and Nogle say the network is “set to transform the way digital assets are owned, traded and invested in”. By committing to the “goal of bringing legacy financial services to the digital asset industry”, the two will use their strategic partnership to set “the industry standard for compliant and transparent custodianship of digital assets”.
“The unique synergies between our two companies will accelerate our vision of creating a world where people can trade and transact digitised assets freely,” says FDT’s chief operating officer (COO) Gunnar Jaerv.
“By utilising the immediate settlement network, trust is instant, and immortal,” Jaerv continues. “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,”
Asia is seen by the rest of the world as one of the regions that is holistically embracing digital assets, as regulators, investors, governments, and Big Tech ecommerce platforms, all spearhead innovations in the space. Last month, London-based Copper.co raised $8.3 million to bring its digital assets platform to Asia and the US.
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