ATME, a digital asset that exchanges a license by the Central Bank of Bahrain (CBB), said on Tuesday that it has completed its first tokenized assets in the real world (RWA) starting with gold -backed tokens.
Tokens, available to accredited investors, each represents a kg of gold stored in custody, according to the press release. Investors can trade these digital assets on atme’s secondary market or redeem them for physical gold. The initiative aims to modernize gold ownership by removing storage and transport problems while utilizing blockchain for efficiency and security.
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“By combining the timeless value of gold with blockchain technology, we unlock new ways for investors to access and trade with high value,” Alex Lola, CEO of atme, said in a statement.
The exchange said it plans to expand its offers to include other asset classes, which further integrates blockchain technology into traditional financial systems.
Atme’s tokenized gold, which offers in accordance with a broader trend in the financial markets, where assets in the real world such as raw materials, bonds and funds are increasingly digitized and traded on blockchain rails, a process is also known as tokenization. The tokenized gold market is worth around $ 1.2 billion, dominated by Paxos issued PAXG and StableCOin issuer Tether’s Xaut-Tokens, RWA.xyz data shows. Global Bank HSBC also introduced a gold token in Hong Kong for retail investors last year and signaled wider adoption.
Gold supported tokens enjoyed a resurgence in activity recently as gold prices hit fresh record highs that were propelled by a weaker dollar, rising trade war concerns and geopolitical turmoil.
