Fastex Launches Collectible Notes Backed 1:1 by FTN Token

Fastex, a Dubai-based cryptocurrency exchange, has launched a pioneering initiative by issuing collectible currency notes fully backed 1:1 by its native token, FTN. These physical notes, developed over a year, incorporate advanced anti-counterfeit features such as serial numbers, intaglio ink, optically variable ink, and metallic security foil. Each note is thematically designed around the Solar System and can be redeemed on the Fastex platform for equivalent FTN tokens at any time [1]. The notes bridge physical collectibles with digital assets, offering users early access to new products, airdrops, and exclusive events [2].

The project leverages Authentix, a 25-year-old authentication solutions provider, to ensure security and traceability. Users can verify the authenticity of each note via NFTs, which are burned upon redemption. This integration of blockchain technology with traditional banknote security measures aims to enhance trust and transparency in the crypto ecosystem [3]. Vakhtang Abrahamyan, CEO of Fastex, emphasized the innovation’s significance, stating that the initiative represents “the evolution of currency” by merging the tactile value of collectibles with blockchain integrity [4].

Authentix’s International Sales Director, Joe Galloso, highlighted the collaboration’s success in blending traditional printing heritage with crypto innovation. The notes’ polymer substrate and anti-counterfeit features were meticulously designed to create a “visually spectacular” product, reflecting both artistic and technological rigor [5]. The partnership with Authentix, which has over 320 years of cumulative expertise in security printing, underscores Fastex’s commitment to mitigating counterfeiting risks [6].

The FTN-backed notes will be available for purchase starting July 1 via Yo Cash, a platform managed by Fastex. Users must complete Know-Your-Customer (KYC) verification to access the offering. The launch marks Fastex’s expansion beyond its core exchange services into Web3 infrastructure, including its Bahamut EVM-based blockchain and financial tools like Fastex Card and YoWallet [7].

Fastex’s initiative aligns with broader trends of tokenization and hybrid asset models in the crypto space. By providing a tangible representation of digital assets, the exchange aims to attract both crypto-savvy users and traditional collectibles enthusiasts. However, the success of the project will depend on market adoption and the platform’s ability to maintain the 1:1 peg as demand fluctuates.

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[1] [Fastex Becomes the First Exchange Globally to Issue Collectible Currency Notes Backed 1:1 by FTN Token] [https://coinmarketcap.com/community/articles/68851197b36df0118c636b74/]

[2] [Fastex Becomes the First Exchange Globally to Issue Collectible Currency Notes Backed 1:1 by FTN Token] [https://coinmarketcap.com/community/articles/68851197b36df0118c636b74/]

[3] [Fastex Becomes the First Exchange Globally to Issue Collectible Currency Notes Backed 1:1 by FTN Token] [https://coinmarketcap.com/community/articles/68851197b36df0118c636b74/]

[4] [Fastex Becomes the First Exchange Globally to Issue Collectible Currency Notes Backed 1:1 by FTN Token] [https://coinmarketcap.com/community/articles/68851197b36df0118c636b74/]

[5] [Fastex Becomes the First Exchange Globally to Issue Collectible Currency Notes Backed 1:1 by FTN Token] [https://coinmarketcap.com/community/articles/68851197b36df0118c636b74/]

[6] [Fastex Becomes the First Exchange Globally to Issue Collectible Currency Notes Backed 1:1 by FTN Token] [https://coinmarketcap.com/community/articles/68851197b36df0118c636b74/]

[7] [Fastex Becomes the First Exchange Globally to Issue Collectible Currency Notes Backed 1:1 by FTN Token] [https://coinmarketcap.com/community/articles/68851197b36df0118c636b74/]