Swiss SEBA Bank Launches Gold-backed Token
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SEBA, a licensed and supervised Swiss bank, has announced the launch of its own backed by gold token called Gold Token. According to an announcement, the regulated token allows investors to redeem their physical gold on-demand "at any time from partner refineries – avoiding costly transport and storage fees."

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SEBA says the gold token can also be utilized as a stablecoin. SEBA Bank CEO, Guido Buehler, says that the digital version of gold "removes the frictions of owning gold for investors and provides a cost-effective solution for owning the asset fit for purpose in the new economy."

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The token is developed in conjunction with Argor-Heraeus, a service provider in the precious metal industry, and aXedras, a blockchain-based precious metal platform. It remains unclear if SEBA plans to list the gold token on cryptocurrency exchanges.

Earlier in October, MELD, a startup operating in the Cardano ecosystem, announced plans to partner with Nigerian mobile operator Tingo Holdings and tokenization provider Ubuntu Tribe to create a gold-backed stablecoin. The precious metal used to back the asset was assumed to be mined in an artisanal and environmentally friendly manner in Africa and South America.

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