Digital Assets: Swiss SEBA Bank Launches Gold-Backed Token

December 20, 2021 | Digital Assets, News
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The SEBA Gold Token is a regulated digital token for investment in, and delivery of physical gold on-demand.

Investors can now buy physical gold in the form of a digital token from SEBA, a Swiss entity that is a fully integrated, FINMA licensed digital assets banking platform. The token, also termed a ‘stablecoin,’ represents ownership of responsibly sourced gold. (CROWDFUND INSIDER)

The advantages of holding a gold-backed stablecoin are manifold, according to SEBA:

  • Fully regulated digital asset
  • Right to obtain physical delivery of gold on demand from partner refineries
  • Save on transport and storage fees on physical gold by holding the stablecoin instead
  • A fully secure method of gold ownership, because (unlike ETFs and OTC transactions) the gold can be physically redeemed
  • The stablecoin is fully tradable in digital asset markets, assuring liquidity
  • A “store-of-value” that acts as a buffer against volatility

Future-proof, fit for the new economy

“The gold standard was once the economic unit of account across the globe, forming the basis of our international monetary system. 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,” said Guido Buehler, CEO at SEBA Bank.

SEBA developed the Gold Token in partnership with with Argor-Heraeus, a service provider in the precious metal industry, and aXedras, a blockchain-based precious metal platform.

Kitco Gold

In August, precious metals firm Kitco Gold announced the launch of a gold-backed stablecoin which will leverage an audit process via Cohen & Company with monthly attestation reports.

Kitco partnered with Tradewind Markets, First Digital Trust, and Stably, an asset tokenization provider.

The gold-backed ERC20 tokens called “kitco gold (KGLD)” “represent one true, troy ounce of fine gold,” according to Kitco.

Related Story: Digital Assets – Crypto Tidbits

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