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Gold Goes Digital: New Platform for Tokenized Gold

Published 2 weeks ago
Description

The World Gold Council and Boston Consulting Group unveil a new platform tokenizing physical gold bars, aiming to streamline issuance, management, and redemption. This open system targets key steps like custody, compliance checks, and audits, enhancing liquidity for lending and borrowing. Experts emphasize the need for gold to go digital to maintain relevance in modern finance. Tokenized commodities, including gold, now account for twenty percent of the tokenized real-world assets market, valued at five point five billion dollars, a three hundred forty percent increase in the last year. Exchanges are also joining the trend, with Bybits new yield-bearing product on Tether Gold, potentially unifying the space and attracting more institutions to digital gold trading.

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