SEBA Bank launches first regulated gold token to enable digital ownership of physical gold
15 December 2021 Switzerland
Image: AdobeStock/V579
SEBA Bank has launched its gold token, a regulated digital token for investment in and delivery of physical gold on-demand.
The gold token is backed by responsibly sourced gold and enables investors to own a digital form of physical gold via a fully regulated and cost-effective solution for the first time.
Unlike traditional gold derivative investment products, such as exchange-traded funds and over-the-counter contracts, the gold token allows investors to redeem their physical gold on-demand at any time from partner refineries – avoiding costly transport and storage fees.
In addition to its physically redeemable store of value, the gold token can also be utilised as a stablecoin in the digital asset markets, allowing trading, and acting as a store-of-value to shield investors from volatility across both traditional and crypto markets.
SEBA Bank’s gold token has been developed in conjunction with Argor-Heraeus, a service provider in the precious metal industry, and aXedras, a blockchain-based precious metal platform.
Guido Buehler, CEO at SEBA Bank, comments, “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. 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.”
Christoph Wild, CEO Argor-Heraeus, says: “The cooperation with SEBA and Argor-Heraeus via our distributed ledger technology-based business network is a great example to use latest blockchain technology to achieve novel and efficient financing solutions.”
The gold token is backed by responsibly sourced gold and enables investors to own a digital form of physical gold via a fully regulated and cost-effective solution for the first time.
Unlike traditional gold derivative investment products, such as exchange-traded funds and over-the-counter contracts, the gold token allows investors to redeem their physical gold on-demand at any time from partner refineries – avoiding costly transport and storage fees.
In addition to its physically redeemable store of value, the gold token can also be utilised as a stablecoin in the digital asset markets, allowing trading, and acting as a store-of-value to shield investors from volatility across both traditional and crypto markets.
SEBA Bank’s gold token has been developed in conjunction with Argor-Heraeus, a service provider in the precious metal industry, and aXedras, a blockchain-based precious metal platform.
Guido Buehler, CEO at SEBA Bank, comments, “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. 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.”
Christoph Wild, CEO Argor-Heraeus, says: “The cooperation with SEBA and Argor-Heraeus via our distributed ledger technology-based business network is a great example to use latest blockchain technology to achieve novel and efficient financing solutions.”
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