FINMA-licensed digital assets banking platform SEBA Bank has launched its Gold Token, a regulated digital token for investment in and delivery of physical gold on-demand.
The SEBA Bank Gold Token enables investors to own a digital form of physical gold via a fully regulated solution, a statement from SEBA Bank said. It also functions as a regulated stablecoin, providing secure transaction settlement and trading in crypto markets.
The gold token allows investors to redeem their physical gold on-demand at any time from partner refineries, unlike traditional gold derivative investment products such as ETFs and OTC contracts.
It can also be used as a fully compliant stablecoin in the digital asset markets for trading, and acting as a store-of-value as well.
The SEBA Bank Gold Token has been developed in collaboration with Swiss precious metals service provider Argor-Heraeus, and Swiss blockchain-based precious metal platform aXedras.
“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.
Featured image credit: Edited from Pexels
