South Korean Tokenization Startup Chooses Klaytn Over Ethereum for Gold NFTs

The Klaytn Foundation, an enactment devoted to expanding the Klaytn ecosystem, announced that Creder, 1 of its governance assembly members, volition motorboat a tokenized golden offering called Gold Pegged Coin (GPC) successful January. Creder volition besides motorboat Goldstation, a decentralized concern level to person carnal golden into GPC tokens.

Creder Launches 1:1 Backed Gold Pegged Coin and Goldstation Tokenization Platform

Creder, a South Korean plus digitization startup, is taking its archetypal steps into the golden tokenization business. The institution volition motorboat a 1:1 backed golden token called Gold Pegged Coin (GPC) aboriginal this month, being the archetypal tokenized golden inaugural launched extracurricular Ethereum. Creder chose Klaytn, a blockchain that features debased fees and scalability, arsenic the basal for this level to democratize entree to this tool. Other tokenized golden alternatives, similar Tether Gold (XAUT), are lone disposable connected Ethereum.

In summation to the coin, Creder besides announced the motorboat of Goldstation, a decentralized concern instrumentality that volition let users to digitize their golden bullion utilizing non-fungible tokens (NFTs). These golden NFTs are issued connected different level called The Mining Club, which volition beryllium utilized by Goldstation to mint GPC utilizing the NFTs arsenic collateral.

According to the Klytn Foundation, this opens caller decentralized concern opportunities, allowing users to leverage this tokenized golden arsenic collateral and make revenue. Goldstation and GPC volition initially beryllium disposable lone for South Korean users, fixed that the Korea Gold Exchange Digital Asset (KORDA) intermediates arsenic the custody supplier of the platform.

While initially, Goldstation volition motorboat lone allowing the tokenization of gold, Creder expects to grow to see different metals successful its platform. The Klaytn Foundation stated they “plan to comprehensively grow precious metals real-world assets (RWA) tokenization beyond golden successful the future.”

Gold tokenization has go a blistery taxable successful fiscal markets, with respective institutions launching initiatives successful this field. In November, HSBC announced the motorboat of a golden tokenization level focused connected London markets, targeting a marketplace of $525 billion.

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