Crypto News
| Published On Dec 20, 2021 3:40 pm CET  |  Updated on Aug 10, 2023 8:12 am CEST | By Peter Siu

Swiss SEBA Bank Launches Gold Token Backed by Physical Gold

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Switzerland-based crypto bank SEBA announced the launch of a gold token that can be delivered in physical form, on-demand, at any time from the firm’s partner refineries. The bank sees the token as a compliant stablecoin “backed by responsibly sourced gold.”  Earlier in the year, the bank introduced a number of new crypto products, like DeFi tokens and the possibility for customers to earn a yield on crypto holdings in an “institutional-grade” fashion. Its latest addition is the gold token offering that can be traded for physical gold at any time as stated in the official announcement:

“The Seba Bank Gold Token is a landmark development in investment products, enabling investors for the first time to own a digital form of physical gold via a fully regulated, cost-effective, and future-proof solution,”

It also said:

“Seba Bank’s Gold Token can boost the adoption of precious metals by providing a cost-effective, secure and straightforward solution for investing in gold,”

SEBA worked with a service provider in the precious metal (PM) industry called Argor-Heraeus. Tand the blockchain-based PM platform was developed by Axedras

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Guido Buehler, CEO at SEBA Bank said in a statement:

“Gold plays a major role in the capital markets. With a market cap of over USD 11 trillion, it offers investors a reliable hedge against inflation and a store of value irrespective of economic turbulence. The gold standard was once the economic unit of account across the globe, forming the basis of our international monetary system,”

The CEO added:

With the launch of our innovative Gold Token, we are building on this history to allow investors to own a fully regulated digital form of physical gold for the first time. Physically redeemable direct from refineries on-demand at any time, our gold token 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 bank had recently received approval for a CISA license from the Swiss Financial Market Authority, or FINMA.

Peter Siu

Peter is a former poker-pro, turned crypto enthusiast with 8+ years’ experience in operational roles dealing with all online gaming verticals within large iGaming companies, including Flutter and Entain. Now an expert in the field of Sports Betting, Casino, iGaming, and Poker, he is our team leader and editor. When not working, Peter can be found in the gym or playing sports like football, tennis and more recently padel.