Značka: Tokenization

SEBA Bank launches regulated gold token to enable digital ownership of physical gold

On Dec. 15, SEBA Bank, a licensed Swiss digital assets banking platform, launched a regulated digital token backed by physical gold and exchangeable for delivery. SEBA claimed that due to its regulatory-compliant nature and the low volatility of gold prices, the gold token could eventually be used as a stablecoin for on-chain transactions.In other words, the design of the gold token bears similarity to gold standards, where fiat currencies are backed by their exchangeability to physical gold in addition to faith entrusted in governments that issue them. In 1971, U.S. President Richard Nixon took the dollar off the gold standard, where it was established that every $35 in dollars could be exchanged for one ounce of gold as per the 1944 Bretton Woods system.Gold-backed currencies are known for their ability to eliminate hyperinflation — a common fear among crypto enthusiasts. However, they also bear the downside of prolonging economic depressions as governments’ ability to print stimulus is restricted by gold supply. No country in the world currently operates on gold or silver standards.Buehler explained the development in the following statement:”Redeemable directly 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.”Previously, SEBA launched a program for users to earn yields on crypto. It is the first bank in the country to have received a digital custody license.

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Why a securities specific blockchain is needed, explained

A successful securities-specific blockchain fills all gaps in the current Ethereum architecture by providing efficiency, automation and transparency. Aligning a functioning blockchain with the needs of modern capital markets will require solutions to governance, identity, compliance, confidentiality and settlement. To address these gaps, Polymath has spearheaded the creation of Polymesh, an institutional-grade, public, permissioned blockchain built specifically for regulated assets. In practice, the platform aims to address these five challenges by: Requiring users to validate their identity with a verified service provider when they are initially onboarded Automating the compliance of assets in a transparent and real-time manner to simplify their reporting and remove the need for complex systems  Implementing a confidential transaction workflow that allows cryptographic proofs to be safely mixed with off-chain declarations. Operating under the governance of a main council and a set of specialized sub-committees  Addressing the probabilistic finality that currently prevents the technology from acting as a golden ownership standard Taken together, a securities-specific blockchain will address these five key gaps that exist in Ethereum’s architecture. A securities-specific blockchain will also provide increased efficiency, automation and transparency to capital markets in general. These three factors will act as significant improvements in bringing down the costs and time for existing asset classes and processes. The result will be lower fees, new investable asset classes, more exciting options for investors. Polymesh launched on Oct. 28, 2021, following a successful incentivized testnet with more than 4,300 users. Users can now use the chain to create, issue, and manage security tokens as well as participate in on-chain activities like governance and staking.   Disclaimer. Cointelegraph does not endorse any content or product on this page. While we aim at providing you with all important information that we could obtain, readers should do their own research before taking any actions related to the company and carry full responsibility for their decisions, nor can this article be considered as investment advice.

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