2019-10-10 15:59 |
Australia‘s Perth Mint, one of the world’s largest refineries, is today launching a gold-backed Ethereum token guaranteed by the government of Western Australia. Marketing materials shared with Hard Fork claim the Perth Mint Gold Token (PMGT) is the first gold token on a public blockchain backed and guaranteed by government reserves.
“It offers institutional investors a competitive alternative to traditional gold products such as gold ETFs, with the additional benefits of real-time trading and settlement enabled by blockchain technology,” reads a press release. Ethereum blockchain used to digitize government gold The token is part of a wider campaign to digitize…
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