Turkish Bank Launches Blockchain Platform for Gold Transfers
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Dec. 31, 2019
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Turkish's Bank Takasbank has announced it launched a BiGA Digital Gold blockchain platform, which allows the transfer of gold from person to person without time constraints.

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According to the official announcement, all assets inside of the platform are based on physical gold stored in the Borsa Istanbul stock exchange vaults.

The platform also allows participating financial institutions to use the distributed ledger technology to transfer assets.

"As a result of our efforts, we created the Digital Asset Transfer Platform, which distinguishes itself from many similar projects in the world by allowing the use of blockchain technology to transfer digital assets based on physical commodities, not having any value of its own, and ensuring full compliance with existing regulations," the bank said in the announcement.

Earlier iHodl reported that cryptocurrency exchange Bitfinex plans to launch options contracts in the first quarter of 2020, said Paolo Ardoino, Technical Director of Bitfinex and Tether.

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