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Comeback of the gold standard? SEBA Bank issues regulated gold tokens



"Gold plays a major role in the capital markets. With a market capitalization of over 11 trillion US dollars, it offers investors reliable protection against inflation and is a store of value that remains unaffected by economic turbulence," said SEBA Bank CEO Guido Bühler .


On Wednesday, SEBA Bank, a licensed Swiss bank for digital assets, launched a regulated digital token linked to gold that is delivered when exchanged. SEBA claimed that the gold token could ultimately be used as a stablecoin for on-chain transactions due to the fact that it is regulated and the gold price hardly fluctuates.


The gold token is similar to the gold standard, where fiat currencies are secured by being able to be exchanged for physical gold and issued by a trustworthy government. In 1971, US President Richard Nixon decoupled the US dollar from the gold standard. Until then, according to the Bretton Woods system of 1944, $ 35 could be exchanged for an ounce of gold.


Currencies pegged to gold are known to rule out hyperinflation. This is often a very big concern among crypto enthusiasts. The downside, however, is that it could prolong economic downturns as the government cannot organize a stimulus program due to limited gold supplies. No country in the world currently has a gold or silver standard.


Bühler explained the development:


"Redeemable at any time directly at the refineries. Our gold token eliminates the difficulties investors face with owning gold. It also provides a cost-effective solution to owning an asset that is suitable for the new economy."

SEBA had previously launched a program in which users can generate returns through cryptocurrencies. It is the first bank in Switzerland to receive a license for digital custody.

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