Zug, 04 March 2021
SEBA Bank, a FINMA licenced Swiss Bank providing a seamless, secure and easy-to-use bridge between digital and traditional assets, today announced that Argor-Heraeus, aXedras and SEBA Bank are joining forces to create a Gold Token.
The project aims to issue a token backed by responsibly sourced gold, providing a cost-effective access to the precious metal. Together with Argor-Heraeus, the first refinery joining the consortium, and aXedras, a blockchain based precious metal platform, SEBA Bank ambitions to boost and promote the Swiss gold ecosystem and set a new standard in the stablecoin sector.
The SEBA Gold Token can be used as a stablecoin in the digital economy, allowing transactions settlement, trading and act as a store-of value shielding holders from the volatility in traditional and crypto markets. The token will allow physical delivery in investor-specified quantities and will empower the holder with responsibly sourced gold.
Guido Bühler, Founder and CEO of SEBA Bank, says: “This innovation is enabled thanks to the blockchain technology and the joint effort with our pioneering partners Argor-Heraeus and aXedras. With the gold token we overcome the traditional hurdles of holding physical gold, it will bridge and fuel the adoption in the future economy. SEBA Banks ambitions to bring the trust and stability necessary to establish confidence in the digital assets.”
Christoph Wild, CEO Argor-Heraeus, adds: “We are delighted to be part of this project that aims at providing investors with an innovative solution, bringing together the advantages of both digital and physical assets. The possibility of backing digital tokens with physical, responsibly-sourced, gold undoubtedly represents a novel way for investors to access the precious metals sector. Innovation and responsibility are among Argor-Heraeus’ core values since the beginning of our activities and we think that this collaboration is a prime example.”
Urs Röösli, CEO at aXedras, states: “The aim of our blockchain-based Bullion Integrity Ledger™ is to connect the leading stakeholders of the global precious metal industry to ensure the needed data and product integrity for innovative commodity finance products. The cooperation with SEBA and ARGOR-HERAEUS via our DLT-based business network is a great example to use latest blockchain technology to achieve novel and efficient financing solutions.”
Argor-Heraeus is part of the Global Business Unit Heraeus Precious Metals (HPM) belonging to the German technological group Heraeus, the largest global provider in the precious metals industry. Founded in 1951 in Ticino (Switzerland), Argor-Heraeus refines gold, silver, platinum and palladium, transforms finished and semi-finished products for the banking, electronics, chemical, watch, and jewellery industries, and provides support services for physical precious metals trading. The company’s main objectives have always been the creation of added value, innovation and compliance along the entire value chain, from the mine to the consumer, in favor of all stakeholders involved.
Argor-Heraeus is one of five worldwide companies accredited by the LBMA as a Good Delivery Referee.
For more information, please visit www.argor.com and www.precioustous.com
aXedras is a DLT / blockchain-based infrastructure and application provider. aXedras has developed a distributed Corda application for product and data integrity within the bullion market (i.e., Bullion Integrity Ledger™). The vision for a connected and digitalised precious metal solution started taking shape in 2017, and was translated into a successful proof of concept a few months later. aXedras was incorporated in 2018 as an independent technology company and is headquartered in Switzerland – an international hub for both DLT / blockchain solution providers and the precious metal industry.
For more information, please visit axedras.com
About SEBA Bank
The Future of Digital Banking, Investing & Financing
Founded in April 2018 and headquartered in Zug, SEBA Bank is a pioneer in the financial industry and is the only global smart bank providing a fully universal suite of regulated banking services in the emerging digital economy. In August 2019, SEBA Bank received a Swiss banking and securities dealer licence – the first time a reputed, regulatory authority such as FINMA has granted a licence to a financial services provider with a core capability in digital assets. The broad, vertically integrated spectrum of services combined with the highest security standards, make SEBA Bank’s value proposition unique – this is why Banque de France selected SEBA Bank to test the integration of Central Bank Digital Currency (CBDC). CVVC Global Report and CB Insights names SEBA Bank as Top 50 Companies within the blockchain ecosystem.
Source : Seba.Swiss