ATME, a digital property trade licensed by the Central Financial institution of Bahrain (CBB), mentioned on Tuesday it has accomplished its first tokenized real-world asset (RWA) issuance beginning with gold-backed tokens.
The tokens, out there to accredited traders, every characterize one kilogram of gold saved in custody, in response to the press launch. Traders can commerce these digital property 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 expertise, we’re unlocking new methods for traders to entry and commerce high-value property,” Alex Lola, CEO of ATME, mentioned in an announcement.
The trade mentioned it plans to increase its choices to incorporate different asset lessons, additional integrating blockchain expertise into conventional monetary programs.
ATME’s tokenized gold providing aligns with a broader development in monetary markets the place real-world property equivalent to 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 value round $1.2 billion, dominated by Paxos-issued PAXG and stablecoin issuer Tether’s XAUT tokens, rwa.xyz knowledge reveals. International financial institution HSBC additionally launched a gold token in Hong Kong for retail traders 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 warfare worries and geopolitical turmoil.