Fastex Launches First Physical Collectible Notes Backed 1:1 by FTN Token with NFT Authentication

Fastex has introduced the world’s first physical collectible notes fully backed 1:1 by its native FTN token, creating a hybrid asset that bridges traditional collectibles with digital finance [1]. The initiative, launched in collaboration with anti-counterfeit technology firm Authentix, features notes secured with advanced security measures such as serial numbers, intaglio ink, optically variable ink, metallic security foils, and polymer substrates. Each note is paired with a non-fungible token (NFT) for digital verification, enabling holders to redeem the note’s value in FTN tokens via the Fastex Exchange. Upon redemption, the associated NFT is permanently burned, ensuring a direct 1:1 peg to the underlying cryptocurrency [1].

The design of the notes draws inspiration from the planets of the Solar System, blending aesthetic appeal with functional security. Collectors gain exclusive benefits, including early access to Fastex products, airdrops, and invitations to events within the ecosystem. To purchase the notes, users must complete Know-Your-Customer (KYC) verification through the Yo Cash platform, a process managed by Fastex and Authentix. The latter’s expertise in banknote and security printing, combined with Fastex’s blockchain infrastructure, positions the notes as a novel asset class that merges physical collectibility with digital transparency [1].

Vakhtang Abrahamyan, CEO of Fastex, emphasized the initiative’s role in bridging the tactile experience of collectibles with the innovation of digital finance. He described the project as a testament to the platform’s commitment to trust, transparency, and technological advancement. Joe Galloso, International Sales Director at Authentix, highlighted the collaboration as a fusion of traditional currency security and blockchain innovation, underscoring the potential to redefine asset authentication [1].

Fastex, based in Dubai, operates as a global crypto trading platform offering blockchain solutions, digital wallets, and financial services. The FTN token serves as the native utility token for its Bahamut EVM-based blockchain and decentralized platforms. Authentix, a 25-year industry leader in anti-counterfeit technology, has supported the project’s security protocols, aligning with its mission to protect high-value assets [1].

The launch marks a significant milestone in crypto innovation, integrating physical collectibles, digital authentication, and Web3 benefits. By leveraging Authentix’s expertise and Fastex’s blockchain infrastructure, the initiative expands the utility of the FTN token while setting a precedent for hybrid asset models. The collaboration addresses challenges in counterfeiting and authentication, potentially influencing future developments in the intersection of physical and digital assets [1].

Source: [1] [title: Fastex Launches World’s First Physical Collectible Notes Backed 1:1 by Fasttoken (FTN)] [url: https://coinmarketcap.com/community/articles/68874805ccfa7925fe395c99/]