Digital asset banking platform SEBA is offering a stablecoin that serves as a token for digital ownership of gold.
- The token will be backed by physical gold, “ready for anytime, on-demand delivery,” SEBA announced Wednesday.
- The Zug, Switzerland-based firm said the token differs from other gold derivative investment products, such as exchange-traded funds (ETFs) or over-the-counter (OTC) contracts, because investors can redeem the physical metal at any time.
- The token can also be used as a compliant stablecoin in trading or act as a store of value, SEBA said.
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