Fastex Launches First Hybrid Physical-Digital Currency Notes Backed 1:1 by FTN Tokens

Fastex, a Dubai-based cryptocurrency exchange, has launched a series of collectible currency notes backed 1:1 by its native token FTN, marking what it claims is the first instance of an exchange issuing such physical-digital hybrid assets [1]. The initiative, developed over a year, combines banknote-grade anti-counterfeit features—such as serial numbers, intaglio ink, optically variable ink, and metallic security foil—with blockchain-based verification. Each note is redeemable for its full value in FTN tokens on the Fastex platform and includes an NFT that users can use to verify authenticity and access exclusive benefits like early product access, airdrops, and event invitations [1].

The notes, designed with themes inspired by the Solar System, are produced in collaboration with Authentix, a company with over 25 years of experience in anti-counterfeit solutions. Authentix’s involvement underscores the project’s focus on security and authenticity, as highlighted by Joe Galloso, the firm’s International Sales Director, who described the collaboration as a fusion of traditional banknote printing techniques and blockchain innovation [1]. Vakhtang Abrahamyan, Fastex’s CEO, emphasized that the initiative reflects the evolution of currency, merging the tangible appeal of collectibles with the transparency and trust of blockchain technology [1].

The notes will be available for purchase starting July 1 via Yo Cash, a platform managed by Fastex and Authentix. Users must complete a KYC (Know Your Customer) verification process before acquiring the notes, which are backed by FTN tokens and redeemable at any time. Upon redemption, the associated NFTs are burned, ensuring a one-to-one peg with the token. The initiative also aims to enhance user engagement by offering holders additional perks, including early access to new products and participation in airdrops [1].

Fastex, which positions itself as a secure and accessible trading platform, has previously introduced services like the Bahamut EVM-based blockchain solution and the YoWallet. The exchange’s leadership includes former traditional finance professionals, such as a former Deputy Chairman of a Central Bank, reflecting its strategy of bridging conventional and digital financial systems [1]. Authentix, a key partner in the project, specializes in supply chain authentication and has a 320-year collective expertise in banknote security printing, according to the company’s profile [1].

The launch of the FTN-backed notes is part of Fastex’s broader strategy to innovate within the Web3 economy, leveraging physical collectibles to drive adoption of digital assets. The initiative has been promoted through interviews with Abrahamyan and Galloso, featured on platforms like Cointelegraph and News.Bitcoin.com [1].

Source: [1] [title1] https://coinmarketcap.com/community/articles/68851197b36df0118c636b74/