Swiss bank Seba launches regulated gold token to strengthen the digital possession of physical gold-old coins

On December 15, the Swiss bank Seba, licensed by FINMA, announced the introduction of a gold token, which can be delivered from a physical form at any time by the company's partner refineries. Seba believes that the token can be used as a compliant stable coin that is "supported by responsible gold".

Swiss bank introduces 'Seba Bank Gold Token', supported by physical gold that is stored in partner refineries

The cryptobank Seba, based in Switzerland, introduced a number of new crypto products this year, such as add decentralized financial (defi) tokens for the company's product range. In October the Swiss bank that customers can achieve a return from crypto stocks in a "institutional way". On Wednesday, Seba uncovered its gold-token offer, which can be exchanged for physical gold at any time.

"The Seba Bank Gold Token is a pioneering development in investment products that enables investors to have a digital form of physical gold via a fully regulated, inexpensive and future -proof solution," says the announcement of Swiss bank.

Seba CEO says that gold plays an important role in the capital markets, Sebas Gold Token has many competitors

According to Seba, the bank worked with a service provider in the precious metal industry (PM) called. Together argor-heraeus . The blockchain-based PM platform was developed by axedras , reveals the announcement of Swiss bank.

"The gold token of Seba Bank can promote the acceptance of precious metals by offering a inexpensive, safe and uncomplicated solution for investments in gold," the company stated on Wednesday.

"Gold plays a major role in the capital markets. With a market capitalization of over $ 11 trillion, it offers investors reliable inflation protection and value storage regardless of economic turbulence. The gold standard was once the economic computing unit worldwide and formed the basis of our international currency system," said Guido Bühler, CEO of Seba Bank, in one Explanation.

The Seba CEO added:

With the introduction of our innovative gold token, we build on this story in order to enable investors to have a fully regulated digital form of physical gold for the first time. Our gold token can be physically redeemed directly on call directly from refineries, eliminates the frictional losses of gold ownership for investors and offers a inexpensive solution for the possession of the useful financial value in the New Economy.

The Seba Bank is not the only gold token based on the blockchain technology, since there are gold token that are output by Paxos ( paxg ) and tether limited target = "_ blank" href = "https://www.coingecko.com/en/coins/ther-gold" rel = "noopener"> xaut ) with a ounce 0.999 fine gold. In the first week of August the PM industry giant Kitco Gold -covered token on Ethereum. Gold-covered tokens have brought in the past a few opportunities compared to the spot market prices of gold.

What do you think that Seba Bank will launch a gold -covered token that can be exchanged for physical gold? Let us know your opinion on this topic in the comments below.

Jamie Redman

Jamie Redman is News Lead at Bitcoin.com News and a Finanztech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open source code and decentralized applications. Since September 2015, Redman has written more than 4,900 articles for Bitcoin.com news about the disruptive protocols that arise today.

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