Skip to main content

South Korean Tokenization Startup Chooses Klaytn Over Ethereum for Gold NFTs

Creder to Launch Goldstation Gold Tokenization Platform on Klaytn

The Klaytn Foundation, an organization devoted to expanding the Klaytn ecosystem, announced that Creder, one of its governance council members, will launch a tokenized gold offering called Gold Pegged Coin (GPC) in January. Creder will also launch Goldstation, a decentralized finance platform to convert physical gold into GPC tokens.

Creder Launches 1:1 Backed Gold Pegged Coin and Goldstation Tokenization Platform

Creder, a South Korean asset digitization startup, is taking its first steps into the gold tokenization business. The company will launch a 1:1 backed gold token called Gold Pegged Coin (GPC) later this month, being the first tokenized gold initiative launched outside Ethereum. Creder chose Klaytn, a blockchain that features low fees and scalability, as the base for this platform to democratize access to this tool. Other tokenized gold alternatives, like Tether Gold (XAUT), are only available on Ethereum.

In addition to the coin, Creder also announced the launch of Goldstation, a decentralized finance tool that will allow users to digitize their gold bullion using non-fungible tokens (NFTs). These gold NFTs are issued on another platform called The Mining Club, which will be used by Goldstation to mint GPC using the NFTs as collateral.

According to the Klytn Foundation, this opens new decentralized finance opportunities, allowing users to leverage this tokenized gold as collateral and generate revenue. Goldstation and GPC will initially be available only for South Korean users, given that the Korea Gold Exchange Digital Asset (KORDA) intermediates as the custody provider of the platform.

While initially, Goldstation will launch only allowing the tokenization of gold, Creder expects to expand to include other metals in its platform. The Klaytn Foundation stated they “plan to comprehensively expand precious metals real-world assets (RWA) tokenization beyond gold in the future.”

Gold tokenization has become a hot topic in financial markets, with several institutions launching initiatives in this field. In November, HSBC announced the launch of a gold tokenization platform focused on London markets, targeting a market of $525 billion.

What do you think about GPC and Goldstation? Tell us in the comment section below.



from Bitcoin News https://ift.tt/tjfLa1q
Labels:

Comments

Post a Comment

Popular posts from this blog

Deep Web Roundup: Dream Adds Monero and Bitcoin Tumbler “Chip Mixer” Launches

The darknet has been quiet of late, which is the way it’s meant to be. No news means no mega busts, honeypots, or mass market shutdowns. Even when it’s out of the spotlight though, the deep web is quietly making news, whether trialling the latest privacy coins or the newest coin mixers that promise to restore a little of the privacy that’s being stripped away from bitcoin users on a daily basis. Also read: U.S. Agency ICE Conducts Investigations That Exploit Blockchain Activity The Battle for Privacy Heats Up Privacy is all relative, but of late there’s been relatively little privacy to be enjoyed by bitcoin users. Blockchain monitoring software is becoming more sophisticated and more common, with U.S. law enforcement agencies using it to profile and hunt down deep web users. Chip Mixer is a relatively new bitcoin tumbler that’s designed to restore some of that privacy. Available on both the clearnet and darknet, the service uses a variety of techniques to obfuscate blockchain m...
10 comments
Read more

Ombudsman Receives Complaints About Crypto Investments in Spain

The Spanish ombudsman has been receiving complaints about cryptocurrency and how some Spanish citizens investing in these vehicles have lost everything. In his annual report, Angel Gabilondo recognized the rise of cryptocurrencies as a new problem due to the little or no regulation crypto sees in the country. In the same way, the EU has also warned about these assets recently. Spanish Ombudsman Gives His Take on Crypto Angel Gabilondo, the Spanish ombudsman, has given his take regarding cryptocurrencies and the effects they have on citizens investing in some of these projects. Gabilondo said in his yearly report that cryptocurrencies have become “a new problem” during the year examined, with many people having lost all of their funds invested. The report states : Cryptocurrency exchange companies or platforms are not regulated in the legal system, are not subject to any public supervision system, nor do they benefit from deposit guarantee systems. The affected users that sought...
Post a Comment
Read more

2021 Bitcoin Price Predictions: Analysts Forecast BTC Values Will Range Between Zero to $600K

As bitcoin has touched new price highs on Thursday nearing the $50k handle, people have been curious as to where the price will go in the future. Meanwhile, despite the gains so far, a number of luminaries, analysts, executives, and proponents from the crypto space believe the leading crypto asset will reach between $60k to six-digits this year. Mike Novogratz Predicts $100K Bitcoin: ‘Other CFOs and CEOs Are Saying, What Should We Be Doing?’ Satoshi Nakamoto’s invention has gained mass appeal in recent times as the leading digital asset bitcoin ( BTC ) has reached its highest value ever in 2021. On Thursday morning (EST), BTC spiked to an all-time high (ATH) at $48,697 per unit. Earlier in the morning at around 2 a.m., bitcoin was exchanging hands for $44,485 and saw an 8.98% increase since then. At the time of publication, at 6:30 p.m. (EST) on February 11, 2021, bitcoin (BTC) is swapping for $47,821 per coin. With BTC so close to the $50k mark, people have been forecasting ...
Post a Comment
Read more