Swiss SEBA Lender Launches Gold Token Backed by Physical Gold

Switzerland-dependent crypto financial institution SEBA introduced the start of a gold token that can be shipped in bodily sort, on-demand, at any time from the firm’s lover refineries. The lender sees the token as a compliant stablecoin “backed by responsibly sourced gold.”  Earlier in the year, the lender released a variety of new crypto solutions, like DeFi tokens and the possibility for clients to get paid a yield on crypto holdings in an “institutional-grade” vogue. Its latest addition is the gold token giving that can be traded for bodily gold at any time as stated in the official announcement:

“The Seba Lender Gold Token is a landmark progress in investment decision products and solutions, enabling investors for the to start with time to possess a electronic kind of actual physical gold via a absolutely regulated, charge-successful, and foreseeable future-proof alternative,”

It also reported:

“Seba Bank’s Gold Token can enhance the adoption of treasured metals by giving a price-effective, secure and straightforward alternative for investing in gold,”

SEBA worked with a provider service provider in the cherished steel (PM) market identified as Argor-Heraeus. Tand the blockchain-based PM platform was developed by Axedras

Guido Buehler, CEO at SEBA Bank reported in a statement:

“Gold performs a significant job in the capital markets. With a market cap of around USD 11 trillion, it offers buyers a dependable hedge versus inflation and a store of price irrespective of financial turbulence. The gold standard was once the financial unit of account across the globe, forming the foundation of our worldwide monetary system,”

The CEO included:

With the start of our progressive Gold Token, we are making on this heritage to allow buyers to own a totally controlled digital form of physical gold for the initially time. Physically redeemable direct from refineries on-demand from customers at any time, our gold token gets rid of the frictions of owning gold for investors and presents a charge-helpful resolution for possessing the asset fit for objective in the new financial state.

The financial institution had a short while ago been given acceptance for a CISA license from the Swiss Money Sector Authority, or FINMA.