Fastex Unveils World’s First 1:1 FTN-Backed Physical Collectible Notes with Authentix Anti-Counterfeit Security

Fastex, a Dubai-based cryptocurrency exchange, has introduced the world’s first physical collectible currency notes backed 1:1 by its native token, FTN, marking a pioneering step in merging physical collectibles with blockchain technology [1]. The initiative, developed in collaboration with anti-counterfeit specialist Authentix, combines banknote-grade security features—such as intaglio ink, optically variable ink, and metallic security foil—with digital verification through non-fungible tokens (NFTs). Each note, designed with motifs inspired by the solar system, is redeemable for its equivalent value in FTN tokens on the Fastex exchange. Upon redemption, the corresponding NFT is permanently burned to maintain the 1:1 peg [1].

The notes were unveiled at Harmony Meetup VII, an annual gathering for Web3 and iGaming professionals, alongside the launch of a premium metal edition of the Fastex crypto debit card. The physical collectibles aim to enhance the utility of the FTN token, which serves as the platform’s utility token for its Bahamut EVM-based blockchain. Holders gain access to perks like early product launches, airdrops, and event invitations, all accessible after completing Know-Your-Customer (KYC) verification via the Yo Cash platform, a collaboration between Fastex and Authentix [1].

Vakhtang Abrahamyan, Fastex’s CEO, emphasized the project’s role in redefining asset ownership by merging the tactile appeal of collectibles with blockchain’s transparency. “The FTN notes symbolise the evolution of currency,” he stated, highlighting the platform’s focus on innovation and trust. Authentix’s Joe Galloso praised the collaboration as a “fantastic experience,” noting the blend of traditional banknote printing techniques with cryptocurrency innovation. The security features, including a polymer substrate, were designed to ensure authenticity while delivering a visually striking product [1].

The launch addresses challenges in counterfeiting and authentication, leveraging Authentix’s 25-year expertise in anti-counterfeit solutions. By integrating physical collectibility with digital verification, Fastex aims to expand the FTN token’s utility while exploring new frontiers in asset ownership. The initiative also positions the platform at the intersection of physical and digital finance, offering users a tangible representation of their digital assets.

The project’s potential lies in its ability to attract both collectors and crypto enthusiasts, bridging gaps between traditional and decentralized markets. However, its long-term success will depend on adoption rates and regulatory clarity. By introducing a hybrid asset model, Fastex and Authentix set a benchmark for innovation in authentication, though the market remains cautious about the scalability of such hybrid solutions.

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