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On December 15, FINMA-licensed Swiss bank, Seba, announced the launch of a gold token that can be delivered in physical form, on-demand, at any time from the firm’s partner refineries. Seba believes the token can be leveraged as a compliant stablecoin “backed by responsibly sourced gold.” Swiss Bank Introduces ‘Seba Bank Gold Token’ Backed by … Read more
Tether Limited has released an assurance report reviewed by Moore Cayman, an auditor of investment funds and digital assets. The report provides a breakdown of the company’s assets and reserves which Moore Cayman claims are around $62.7 billion as of June 30. Tether Publishes Assurance Report On August 9, 2021, Tether’s chief technology officer tweeted … Read more
The company behind the world’s largest stablecoin disclosed a report by aiming to show “transparency commitment” to clarify whether Tether’s reserves are fully backed or not. Tether Holdings Limited published its “Assurance Opinion” issued by an auditing firm based in the Cayman Islands. Accounting Firm Recognizes Two Ongoing Legal Cases According to the statement, Tether … Read more
The last few months have bolstered the price of the precious metal gold as governments worldwide have created tremendous amounts of debt and inflation. For instance, the value of gold per ounce jumped over $2k during the first week of August. Meanwhile, similarly to the physical counterparts, two blockchain tokens that claim to be backed … Read more
The last few years have seen the creation of blockchain projects that claim to have tokens backed by physical gold. In October, Coinshares and Blockchain.com launched a digital gold token (DGLD) backed by physical gold that uses BTC’s security. Tether just announced a new token called tether gold (XAUT), which will be listed for trading … Read more
