SEBA Bank, a fully integrated, FINMA licensed digital assets banking platform, today announced the launch of its Gold Token, a regulated digital token for investment in and delivery of physical gold on-demand. As announced in March this year SEBA Bank issues a token backed by responsibly sourced gold, providing cost-effective access to the precious metal, and sets a new standard in the stablecoin sector.
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. Unlike traditional gold derivative investment products, such as ETFs and OTC contracts, the gold token allows investors to redeem their physical gold on-demand at any time from partner refineries – avoiding costly transport and storage fees.
In addition to its physically redeemable store of value, the gold token can also be utilized as a stablecoin. As the stablecoin sector has rapidly grown to reach a market cap of over USD 130 billion, institutional investors are seeking trusted and regulated counterparties to provide services in the space. To address demand, the SEBA Bank Gold Token can be used as a fully compliant stablecoin in the digital asset markets, allowing trading, and acting as a store-of-value to shield investors from volatility across both traditional and crypto markets.
Guido Buehler, CEO at SEBA Bank, comments, “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. 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.”
Developed in conjunction with Argor-Heraeus, a leading service provider in the precious metal industry, and aXedras, a blockchain-based precious metal platform, 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.
Christoph Wild, CEO Argor-Heraeus, adds, “The aim of our blockchain-based Bullion Integrity Ledger™ is to connect the leading stakeholders of the global precious metal industry to ensure the needed data and product integrity for innovative commodity finance products. The cooperation with SEBA and ARGOR-HERAEUS via our DLT-based business network is a great example to use latest blockchain technology to achieve novel and efficient financing solutions.”
Argor-Heraeus is part of the Global Business Unit Heraeus Precious Metals (HPM) belonging to the German technological group Heraeus, the largest global provider in the precious metals industry. Founded in 1951 in Ticino (Switzerland), Argor-Heraeus refines gold, silver, platinum and palladium, transforms finished and semi-finished products for the banking, electronics, chemical, watch, and jewellery industries, and provides support services for physical precious metals trading. The company’s main objectives have always been the creation of added value, innovation and compliance along the entire value chain, from the mine to the consumer, in favor of all stakeholders involved.
Argor-Heraeus is one of five worldwide companies accredited by the LBMA as a Good Delivery Referee. For more information, please visit www.argor.com and www.precioustous.com
About SEBA Bank
Founded in April 2018 and headquartered in Zug, SEBA Bank is a pioneer in the financial industry and is the only global smart bank providing a fully universal suite of regulated banking services in the emerging digital economy. In August 2019, SEBA Bank received a Swiss banking and securities dealers license, and in September 2021 the CISA licence – the first time a reputed, regulatory authority such as FINMA has granted such licenses to a financial services provider with a core capability in digital assets. The broad, vertically integrated spectrum of services combined with the highest security standards, make SEBA Bank’s value proposition unique – this is why Banque de France selected SEBA Bank to test the integration of Central Bank Digital Currency (CBDC). CVVC Global Report and CB Insights name SEBA Bank as Top 50 Companies within the blockchain ecosystem. Aite Group awarded SEBA Bank with their 2021 Digital Wealth Management Impact Innovation Award in the category “Digital Startup of the Year”, and LinkedIn list SEBA Bank as one of the Top Startups 2021 in Switzerland.
For more information about SEBA Bank, please visit our website.