ATME, a digital property alternate licensed by the Central Financial institution 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 characterize one kilogram of gold saved in custody, in line with the press launch. Buyers can commerce these digital property on ATMEâs secondary market or redeem them for bodily gold. The initiative goals to modernize gold possession by eliminating storage and transportation considerations whereas leveraging blockchain for effectivity and safety.
âBy combining the timeless worth of gold with blockchain know-how, we’re unlocking new methods for traders to entry and commerce high-value property,â Alex Lola, CEO of ATME, mentioned in an announcement.
The alternate mentioned it plans to increase its choices to incorporate different asset courses, additional integrating blockchain know-how into conventional monetary programs.
ATMEâs 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 also called 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. International 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 lately as gold costs hit fresh record highs propelled by a weaker greenback, mounting commerce conflict worries and geopolitical turmoil.
