Fastex Launches World’s First 1:1 Fasttoken-Backed Physical Collectible Notes

Fastex, a Dubai-based cryptocurrency exchange, has introduced the world’s first physical collectible notes backed 1:1 by its native Fasttoken (FTN), marking a novel intersection of tangible collectibles and digital assets. Each note is fully collateralized by one FTN token, enabling users to engage with the Fastex ecosystem through a hybrid model that combines physical and blockchain-based value. The initiative, developed in partnership with Authentix—a leader in anti-counterfeit technology—incorporates advanced security features such as serial numbers, optically variable ink, metallic foils, and polymer substrates. The designs, inspired by the planets of the Solar System, are paired with non-fungible tokens (NFTs) for digital verification. Owners can redeem the notes for their FTN equivalent via the Fastex Exchange, a process that also burns the associated NFT to prevent duplication. This mechanism is certified by Authentix, which has over 25 years of experience in securing physical currency and consumer goods against counterfeiting [1].

The launch emphasizes accessibility and user incentives. Collectors gain early access to Fastex products, airdrops, and exclusive event invitations. Purchases are restricted to users who complete KYC verification through the Yo Cash website, a process managed collaboratively by Fastex and Authentix. Fastex’s CEO, Vakhtang Abrahamyan, described the project as a “bridge between the tactile world of collectibles and digital finance,” underscoring the platform’s commitment to innovation, trust, and transparency [1]. Joe Galloso, International Sales Director at Authentix, highlighted the collaboration as a fusion of traditional currency security with blockchain advancements, positioning it as a milestone in the crypto industry [1].

Fastex, which operates as a Web3-focused crypto trading platform, has integrated its FTN token into the Bahamut EVM-based blockchain and decentralized gaming ecosystems. The company’s leadership, with backgrounds in central banking and traditional finance, aims to expand the FTN token’s utility through this hybrid model. By leveraging Authentix’s expertise in security printing, Fastex has created a product that addresses concerns about physical asset authenticity while aligning with blockchain’s transparency. The initiative not only diversifies Fastex’s offerings but also reflects a broader trend of merging physical collectibles with digital proof of ownership.

The project’s success hinges on its ability to attract both cryptocurrency enthusiasts and traditional collectors. By offering a tangible representation of digital assets, Fastex may appeal to investors seeking alternative entry points into the crypto market. Additionally, the integration of NFTs and redemption mechanisms could enhance the platform’s user engagement and loyalty. However, the long-term viability of the notes will depend on factors such as market demand for collectibles and the stability of the FTN token’s value. As the crypto industry continues to evolve, Fastex’s approach highlights the potential for innovative financial instruments that blur the lines between physical and digital economies.

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