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Independent panel members will have on-demand, view-only access to the reserve asset dashboard and receive regular asset statements from accredited brokers
SINGAPORE, Jan. 16, 2024 /PRNewswire/ — Matrixdock, a digital assets platform that provides access to real-world assets (“RWA”) through tokenization and a brand wholly-owned by Matrixport, today announced the formation of an inclusive Transparency Panel in a significant step toward strengthening the governance of its marketing-leading Short-term Treasury Bill Token (“STBT”) product.
Comprising a diverse group of digital asset industry stakeholders, the Transparency Panel is designed to operate autonomously and in an advisory capacity. The inaugural members of the new panel include representatives from the Vertdcxified USD Foundation and LayerZero, as well as Michael Egorov, the founder of Curve.
John Ge, CEO of Matrixport said, “In a financial landscape that is increasingly permissionless, the calls for assurances that complement blockchain-empowered service offerings are growing louder. The formation of the Transparency Panel reflects our ongoing commitment to robust governance practices. This is a concrete step in delivering on best practice principles and fortifying trust as we bring various asset classes on-chain.”
The objective of the Transparency Panel is to rigorously scrutinize the verifiable reserve status of on-chain assets within the Matrixdock ecosystem. This includes the STBT product, which features a daily rebasing to maintain its peg to a 1 USD value and expedited minting processes to minimize slippage and liquidity risk.
The Transparency Panel enriches the existing third-party validation infrastructure, complementing on-chain Proof of Reserves (“POR”) provided by ChainLink. Panel members are given immediate, view-only access to critical banking dashboards and receive regular asset statements from accredited brokers. This allows for a constant, data-driven advisory capacity that yields actionable insights and promotes accountability.
Eva Meng, Head of Matrixdock said, “As the green shoots of RWA tokenisation emerge, it is important to bridge the trust deficit which pervades our industry. We are staking the ground for STBT as the standard bearer in risk management with an independent panel that enhances informed independent oversight that complements its smart contract proof-of-reserve feature.”
Matrixdock plans to regularly publish assessment reports that account for the validity of STBT’s underpinning assets and are affirmed by the Transparency Panel. These attestation reports will serve as an additional layer of validation, paving the way for tokenized T-bills to be utilized as underlying assets in other digital asset products, or adopted by treasury management firms as a diversification strategy.
Matrixdock’s STBT was recently recognized as the best trading and liquidity Solution at the 2023 TADS Awards, an international award for the Tokenized Assets and Digitized Securities (TADS) sectors. Matrixdock remains steadfast in its mission to be a pillar of trust and governance within the ever-evolving landscape of digital assets, committed to delivering unparalleled clarity and credibility.
About Matrixdock
Matrixdock, a digital assets platform that provides access to real-world assets through tokenization. It is a brand owned by Matrixport, one of the world’s largest and most trusted digital assets financial services ecosystem. Its flagship product, Short-term Treasury Bill token (“STBT”), enables stablecoin holders to get exposure to U.S. Treasury securities maturing within six months and reverse repurchase agreements collateralized by the U.S. Treasury securities.
Matrixdock’s STBT was recognized as the best trading and liquidity solution at the 2023 TADS Awards, the world’s leading international awards for the Tokenized Assets and Digitized Securities (TADS) sectors. For more information, please visit www.matrixdock.com. For STBT purchase restrictions, visit this link.
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