Wednesday, June 12, 2024

SEBA Bank Launches Gold Token, Sets New Standard In Stablecoin Sector.

SEBA Bank has set a new standard in the stablecoin sector with the launch of a Gold Token. It has been developed with Argor-Heraeus, a leading service provider in the precious metal industry, and aXedras, a blockchain-based precious metal platform.

The Gold Token is a regulated digital token for investment in and delivery of physical gold on-demand. It is a landmark development in investment products. It enables investors to own a digital form of physical gold through a fully regulated, cost-effective and future-proof solution.

Guido Buehler, CEO SEBA Bank, acknowledged the fact that gold plays a major role in the capital markets. “With a market cap of over USD 11 trillion, it offers investors a reliable hedge against inflation and a store of value irrespective of economic turbulence. The gold standard was once the economic unit of account across the globe, forming the basis of our international monetary system,” he explained. “With the launch of our innovative Gold Token, we are building on this history to allow investors to own a fully regulated digital form of physical gold for the first time. Physically redeemable direct from refineries on-demand at any time, our gold token removes the frictions of owning gold for investors and provides a cost-effective solution for owning the asset fit for purpose in the new economy.”

Christopher Wild, CEO Argor-Heraeus, said the aim of the Bullion Integer Ledger is to connect the leading stakeholders of the global precious metal industry. “It ensures the needed data and product integrity for innovative commodity finance products,” he said. “The cooperation with SEBA and ARGOR-HERAEUS via our DLT-based business network is a great example to use latest blockchain technology to achieve novel and efficient financing solutions.”

Unlike ETFs and OTC contracts, the Gold Token allows investors to redeem their physical gold on-demand at any time from partner refineries. This helps avoid costly transport and storage fees. The Gold Token can also be used as a stablecoin in digital asset markets.

Cryptured Team
Cryptured Team
The writers team at Cryptured.com is composed of passionate and experienced journalists who cover the latest developments in the crypto and blockchain space. They aim to provide accurate, unbiased and easy-to-understand news and information for their readers, as well as insights and analysis from industry experts. The writers team is always on the lookout for new and exciting stories that can help the general public learn more about the potential and challenges of these technologies.
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