SEBA is a Swiss bank that offers a seamless, easy-to-use, and secure bridge between traditional and digital assets. Stablecoin is being offered by SEBA, a digital asset banking platform, which will serve as a token for digital ownership of gold.
In an announcement made on Wednesday, “SEBA has informed that the tokens will be backed by physical gold and will be delivered any time on-demand”.
The Zug, a Switzerland-based firm has pointed out that tokens are different from other gold derivative investment products such as over-the-counter (OTC) contracts because, in the case of Stablecoin, physical metal could be redeemed by investors at any given time.
It was also mentioned by SEBA that tokens can be used as a store of value or as a compliant Stablecoin in trading.
Disclaimer: The article should not be considered as any financial advice. It is advisable to conduct thorough research before investment.
Photo by – Alesia bedanken on Pexels