Securities Finance Technology News | SEBA Bank Launches First Regulated Gold Token to Enable Digital Ownership of Physical Gold

0

SEBA Bank Launches First Regulated Gold Token to Enable Digital Ownership of Physical Gold

SEBA Bank has launched its Gold Token, a regulated digital token for investing and delivering physical gold on demand.

The gold token is backed by responsibly sourced gold and allows investors to own a digital form of physical gold for the first time through a fully regulated and cost-effective solution.

Unlike traditional gold derivative investment products, such as exchange-traded funds and over-the-counter contracts, the gold token allows investors to redeem their physical gold on demand at any time from refineries. partners, thus avoiding costly transport and storage costs.

In addition to its physically redeemable store of value, the gold token can also be used as a stablecoin in digital asset markets, enabling trade and acting as a store of value to protect investors from volatility in traditional markets. and cryptographic.

The SEBA Bank gold token was developed in collaboration with Argor-Heraeus, a service provider in the precious metals industry, and aXedras, a blockchain-based precious metals platform.

Guido Buehler, CEO of SEBA Bank, comments: “The gold standard was once the economic unit of account across the world, forming the basis of our international monetary system. With the launch of our innovative gold token, we are building on this history to enable investors to own a fully regulated digital form of physical gold for the first time. Our gold token removes the friction of owning gold for investors and provides a cost-effective solution to owning the right asset for the purpose of the new economy.

Christoph Wild, CEO of Argor-Heraeus, says: “The cooperation with SEBA and Argor-Heraeus through our business network based on distributed ledger technology is a great example of using the latest blockchain technology to achieve innovative and effective financing.

Share.

Comments are closed.