Licensed cryptocurrency bank SEBA from Switzerland has announced the release of a physical gold-backed token.
According to the statement, Gold Token will enable investors to own the digital form of the precious metal through a “fully regulated, cost-effective and forward-looking solution.”
Investors at any time will be able to exchange tokens for gold from partners refining businesses by avoiding storage and transportation fees.
The bank noted that Gold Token can also be used as a stablecoin for trading or a store of value, “protecting investors from market volatility.”
“The gold standard was once an economic unit of account throughout the world, forming the backbone of the international monetary system. With the launch of Gold Token, we are developing this story, ”said SEBA CEO Guido Bühler.
The bank’s partners were players from the precious metals industry – the largest service provider Argor-Heraeus and aXedras blockchain trading platform.
Earlier, SEBA acted as custodian for the first investment crypto fund approved by the Swiss regulator, and also opened access to DeFi and staking for institutions.
We will remind, the American billionaire Ray Dalio called bitcoin “gold for the young.”