One of the most prestigious gold bullion manufacturers and traders in the world is contemplating the issue of a gold-backed blockchain token to enhance its business operations, they hold the relevant licenses in London & Singapore and have been operating for decades. Gold-backed cryptocurrencies are constantly coming to the market at present, but this major issue will prove very popular with investors.
The company is currently considering the benefits of building the tokenisation on either Stellar or Ethereum and has several hundred million ingots that could be tokenised, they currently trade in excess of $1.5B in gold a year. One of the major benefits of buying into this kind of gold-backed blockchain IPO will be the fact that this is a gold bullion manufacturer, the gold would be redeemable worldwide due to the companies established relationships and current trades in excess of $1B worth of gold per year meaning the fees would be far lower than any competition that currently exists.
If this tokenisation does go ahead, it will become the largest global tokenisation of assets on a blockchain and is likely to benefit investors immensely.
The manufacturer is presently in due diligence stage as it conducts research into the legality and justifications of a blockchain launch of this nature.Gibraltar-based DLT advisor, Trent Challis, has been retained to handle the task of managing this project and comments: “I’m really excited to be involved in this major blockchain launch. Gold-backed tokenisations offer investors the confidence that their cryptocurrency purchase is backed up by solid gold so actually has a value. We all watched the incredible Bitcoin bubble last year and saw the cryptocurrency rise to a value of $20,000 which was almost the price of an ounce of gold. And then saw Bitcoin drop like a stone in the following weeks. With a gold-backed cryptocurrency, there’s no doubt of the value of any holding”. About gold-backed toke...