ATME, an exchange of digital assets graduated from the Central Bank of Bahrain (CBB), said Tuesday that it has completed its first issuance of real world assets tokenized (RWA) that begins with tokens backed by gold.
Tokens, available for accredited investors, represent a kilogram of gold stored in custody, according to the press release. Investors can exchange these digital assets in the secondary market market or redeem them for physical gold. The initiative aims to modernize the property of gold by eliminating storage and transport concerns while taking advantage of blockchain for efficiency and safety.
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“By combining the timeless value of gold with blockchain technology, we are unlocking new ways for investors to access and exchange high value assets,” said Alex Lola, CEO of ATME, in a statement.
The exchange said it plans to expand its offers to include other asset classes, integrating even more blockchain technology into traditional financial systems.
The tokenized gold offer of ATME is aligned with a broader trend in financial markets where real world assets, such as basic products, bonds and funds, are increasingly digitized in blockchain rails, a process also known as tokenization. The tokenized gold market has a value of around $ 1.2 billion, dominated by PaxG XAUT tokens issued by Paxos and the XAUT data of the Stablecoin issuer, the data RWA.XYZ. Global Bank HSBC also introduced a gold token in Hong Kong for retail investors last year, indicating a broader adoption.
Tokens backed by gold enjoyed a resurgence in the activity recently, since gold prices reached new records driven by a weaker dollar, growing concerns of commercial war and geopolitical agitation.
