THELOGICALINDIAN - On December 15 FINMAlicensed Swiss coffer Seba appear the barrage of a gold badge that can be delivered in concrete anatomy ondemand at any time from the firms accomplice refineries Seba believes the badge can be leveraged as a adjustable stablecoin backed by responsibly sourced gold
Swiss Bank Introduces ‘Seba Bank Gold Token’ Backed by Physical Gold Stored at Partner Refineries
Switzerland-based crypto coffer Seba has alien a cardinal of new crypto articles this year, like adding decentralized accounts (defi) tokens to the company’s artefact lineup. In October, the Swiss coffer revealed that barter can acquire a crop on crypto backing in an “institutional-grade” fashion. On Wednesday, Seba revealed its gold badge alms that can be traded for concrete gold at any time.
“The Seba Bank Gold Token is a battleground development in advance products, enabling investors for the aboriginal time to own a agenda anatomy of concrete gold via a absolutely regulated, cost-effective, and future-proof solution,” the Swiss bank’s advertisement details.
Seba CEO Says Gold Plays a Major Role in the Capital Markets, Seba’s Gold Token Has Many Competitors
According to Seba, the coffer formed with a account provider in the adored metal (PM) industry alleged Argor-Heraeus. The blockchain-based PM belvedere was developed by Axedras, the Swiss bank’s advertisement reveals.
“Seba Bank’s Gold Token can addition the acceptance of adored metals by accouterment a cost-effective, defended and aboveboard band-aid for advance in gold,” the aggregation acclaimed on Wednesday.
“Gold plays a above role in the basic markets. With a bazaar cap of over USD 11 trillion, it offers investors a reliable barrier adjoin aggrandizement and a abundance of amount irrespective of bread-and-butter turbulence. The gold accepted was already the bread-and-butter assemblage of annual beyond the globe, basic the base of our all-embracing budgetary system,” Guido Buehler, CEO at SEBA Bank said in a statement.
The Seba CEO added:
Seba coffer is not the alone gold badge congenital on top of blockchain technology, as there are gold tokens issued by Paxos (PAXG) and Tether Limited (XAUT) backed by an ounce of .999 accomplished gold. During the aboriginal anniversary of August, the PM industry behemothic Kitco launched a gold-backed badge on top of Ethereum. Gold-backed tokens accept fetched a premium in the accomplished on a few occasions in allegory to gold’s atom bazaar prices.
What do you anticipate about Seba coffer ablution a gold-backed badge that can be adored for concrete gold? Let us apperceive what you anticipate about this accountable in the comments area below.
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