BnkToTheFuture’s CEO & Co-founder, Simon Dixon went LIVE for an AMA with First Digital Trust’s CEO, Vincent Chok to discuss the FDT funding round (https://app.bnktothefuture.com/pitches/first-digital-trust/landing). Followed by a live AMA session to answer questions from the live chat.
FEATURED PITCH
Company: First Digital Trust – Co-invest with Nogle in Asia’s leading Digital Asset focused trustee & qualified custodian used by BnkToTheFuture & TUSD Stablecoin
Type: Convertible Note (available for both US and non-US investors).
Description: First Digital Trust (FDT) was established in 2019 as a spin-off from Legacy Trust Digital Asset with headquarters based in Hong Kong. FDT is Asia’s leading technology-driven financial institution powering the digital asset industry through robust and compliant infrastructure. The team serves FinTech innovators including blockchain clients, money service businesses and token issuers. FDT is behind the Abacus™ rapid settlement network and provides APIs, accounting, compliance, fiat gateways, payment rails, pension plans and open finance infrastructure for the industry. More than just another financial institution, FDT is the next-generation trust company.
Key clients:
- BnkToTheFuture.com (BF) – BF partnered with FDT to hold client assets in custody for additional protections and are working on developing their ‘Retirement Plan B’ product with FDT.
- TrueUSD – TUSD is one of the top stablecoins and use FDT to mint new coins and hold USD in custody for non-US clients.
Solutions:
- Rubik™ Asset Tokenization: Bespoke solutions for issuers to securitize any type of asset including fiat currencies, commodities, securities and real estate.
- Abacus™ Rapid Settlement Network: Move assets, money or other value at scale anytime, from anywhere with real-time settlement between network participants.
- Open Trust™ APIs: Connect custom apps or services using First Digital Trust’s extensive suite of developer APIs.
- BitPension™: Pension plans serving both individuals and enterprises globally with tax and estate planning.
Vision: FDT brings traditional fiduciary services into the digital world through technology, developing financial services infrastructure enabling its clients to create world-class financial products and services. FDT has a decentralized vision for finance, decoupled from the risks of fractional reserve banking, open and driven by a culture of innovation, efficiency and automation. FDT is a qualified custodian offering B2B2C open finance solutions, holding a Trust license and compliant with AMLO, FATCA & CRS reporting. FDT offers multi-asset trust and custody including major fiat currencies, digital assets, stocks, bonds, derivatives, commodities and real estate. Currently bringing an unparalleled level of experience to an industry lacking trust to more than 200 digital asset clients with approximately US$250m under custody.
Investors:
- Nogle: Based in Taiwan, invested US$3m in an equity round early 2020 and is leading this round with additional private investors. Prior to being the lead investor in First Digital Trust, Nogle has backed leading tech firms such as global messenger app Telegram, Hong Kong-based FinTech firm TNG and digital asset exchange BTSE.
Team:
- Vincent Chok (CEO & Director): CEO of FDT and Legacy Trust, launched digital asset custody services in 2017. Prior to founding FDT and Legacy Trust, Vincent managed mortgage financing and raised capital for commercial real estate in the Canadian Exempt Securities market.
- Michael Titus (Legal & Director): Practicing solicitor and principal of Titus Solicitors, a Hong Kong law firm specializing in corporate, commercial and IP law with strong digital asset practice. Prior to establishing Titus, Michael practiced in Singapore and specialized in M&A and cross-border private equity.
- Gunnar Jaerv (COO): Head of Digital Assets at Legacy Trust, which he formally joined in 2015 after undertaking consultancy work for the Group’s companies. Gunnar has extensive product development experience and deep tech and blockchain expertise.
- Raphael Tressieres (Business & Client Strategy): Former Tech investment banker at BNP Paribas with experience in executing digital corporate finance transactions across Europe and Asia. Raphael has extensive blockchain experience gained through a senior position at OAX Foundation.
Recent media/press coverage:
Rapid Settlement Network
1. Coindesk: New Settlement Layer to Offer Asian Crypto Institutions Local Alternative to Silvergate Bank
2. Hedgeweek: First Digital Trust launches Rapid Settlement and Clearing Network for digital assets
US$3m investment from Nogle
1. Coindesk: Legacy Trust’s Crypto Spin-Off Receives $3M to Roll Out Asian Settlement Platform
2. The Block: Crypto custody startup First Digital Trust raises $3M from Telegram investor Nogle
Partnership with BnkToTheFuture
1. Coindesk: BnkToTheFuture switches to First Digital Trust
PITCH TYPE: Convertible Note (SAFE)
VALUATION CAP: $25m
DISCOUNT RATE: 20%
MINIMUM INVESTMENT AMOUNT: US$1,000
TOTAL RAISE: US$1,000,000
*Disclaimer: The above information including the numbers, claims, & project analysis have been shared by the FDT team. BnkToTheFuture recommends all its investors to do their own research before making an investment decision.
This deal is on a first-come, first-serve basis.
For further details and to make a purchase click here.
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