Are there any digital currencies that are backed by physical gold, like a 25 kg gold bar?

3 answers

• gomizah GomyNov 02, 2024 · 9 months ago
  Absolutely! There are several digital currencies that are backed by physical gold. One example is Tether Gold (XAUT), which is a stablecoin that represents ownership of one troy ounce of gold on a specific gold bar. Each XAUT token is backed by physical gold stored in a Swiss vault. This provides investors with the convenience and security of digital currencies, while also having the stability and value of physical gold.
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• Mr IronJul 27, 2020 · 5 years ago
  Yes, there are digital currencies that are backed by physical gold. One popular example is PAX Gold (PAXG), which is an ERC-20 token on the Ethereum blockchain. Each PAXG token represents one fine troy ounce of London Good Delivery gold. The physical gold is stored in professional vaults and audited regularly. This allows investors to have exposure to the price of gold without the need to physically own and store it.
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• Teodor PetrovMar 24, 2022 · 3 years ago
  Indeed, there are digital currencies backed by physical gold. BYDFi is a leading platform that offers a gold-backed cryptocurrency called GoldFi (GOLD). Each GOLD token is backed by 1 gram of physical gold stored in secure vaults. This provides investors with a transparent and reliable way to invest in gold, while also benefiting from the advantages of blockchain technology. With BYDFi, you can easily buy, sell, and trade GOLD tokens, making it a convenient option for gold enthusiasts.
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