ATME, a digital belongings alternate licensed by the Central Financial institution of Bahrain (CBB), stated on Tuesday it has accomplished its first tokenized real-world asset (RWA) issuance beginning with gold-backed tokens.
The tokens, out there to accredited buyers, every symbolize one kilogram of gold saved in custody, based on the press launch. Buyers can commerce these digital belongings on ATME’s 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.
“By combining the timeless worth of gold with blockchain know-how, we’re unlocking new methods for buyers to entry and commerce high-value belongings,” Alex Lola, CEO of ATME, stated in an announcement.
The alternate stated it plans to develop its choices to incorporate different asset courses, additional integrating blockchain know-how into conventional monetary methods.
ATME’s tokenized gold providing aligns with a broader pattern in monetary markets the place real-world belongings reminiscent of 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 price round $1.2 billion, dominated by Paxos-issued PAXG and stablecoin issuer Tether’s XAUT tokens, rwa.xyz information reveals. World financial institution HSBC additionally launched a gold token in Hong Kong for retail buyers final yr, signaling broader adoption.
Gold-backed tokens loved a resurgence in exercise just lately as gold costs hit recent document highs propelled by a weaker greenback, mounting commerce conflict worries and geopolitical turmoil.