Bahrain Exchange ATME Completes First Gold-Backed Token Issuance
ATME, a licensed digital assets exchange in Bahrain, has completed its first issuance of gold-backed tokens. Key points include:
- The tokens represent one kilogram of gold stored in custody.
- Available for accredited investors, these tokens can be traded on ATME’s secondary market or redeemed for physical gold.
- The initiative aims to modernize gold ownership by using blockchain technology to enhance efficiency and security.
- ATME plans to expand its offerings to include other asset classes, integrating blockchain into traditional finance.
- The tokenized gold market is valued at approximately $1.2 billion, with leading products from Paxos (PAXG) and Tether (XAUT).
- HSBC recently launched a gold token for retail investors in Hong Kong, indicating increasing adoption of tokenization.
- Gold-backed tokens have seen a resurgence as gold prices hit record highs due to a weaker dollar and geopolitical factors.