Finance, Real World Assets, Tokenized Assets, Tokenization, Gold, Bahrain Gold-backed tokens have loved a resurgence in exercise just lately as gold costs hit document highs.
ATME, a digital property alternate licensed by the Central Bank of Bahrain (CBB), said on Tuesday it has accomplished its first tokenized real-world asset (RWA) issuance beginning with gold-backed tokens.
The tokens, obtainable to accredited traders, every symbolize one kilogram of gold saved in custody, in line with the press launch. Investors can commerce these digital property on ATME’s secondary market or redeem them for bodily gold. The initiative goals to modernize gold possession by eliminating storage and transportation issues whereas leveraging blockchain for effectivity and safety.
“By combining the timeless value of gold with blockchain technology, we are unlocking new ways for investors to access and trade high-value assets,” Alex Lola, CEO of ATME, stated in a press release.
The alternate stated it plans to develop its choices to incorporate different asset lessons, additional integrating blockchain know-how into conventional monetary methods.
ATME’s tokenized gold providing aligns with a broader pattern in monetary markets the place real-world property akin to commodities, bonds and funds are more and more being digitized and traded on blockchain rails, a course of often known as tokenization. The market of tokenized gold is value round $1.2 billion, dominated by Paxos-issued PAXG and stablecoin issuer Tether’s XAUT tokens, rwa.xyz data reveals. Global financial institution HSBC additionally introduced a gold token in Hong Kong for retail traders final 12 months, signaling broader adoption.
Gold-backed tokens loved a resurgence in activity just lately as gold costs hit fresh record highs propelled by a weaker greenback, mounting commerce battle worries and geopolitical turmoil.
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