SEBA Bank Offers Token for Digital Ownership of Gold

SEBA Bank Offers Token for Digital Ownership of Gold
Digital asset banking platform SEBA is offering a stablecoin that serves as a token for digital ownership of gold.The token will be backed by physical gold, “ready for any time on-demand delivery,” SEBA announced Wednesday.The Zug, Switzerland-based firm said the token differs from other gold derivative investment products, such as exchanged-traded funds (ETFs) or over-the-counter (OTC) contracts, because investors can redeem the physical metal at any time.The token can also be used as a compliant stablecoin in trading or act as a store of value, SEBA said.Stablecoins and other digital assets backed by physical redeemable gold are not new, however,…