Two Republican lawmakers from Texas, senator Bryan Hughes and representative Mark Dorazio, have introduced legislation to create a gold-backed digital currency that could be enacted by the state legislature. The policymakers believe that this currency could greatly benefit the Lone Star State and, as an alternative digital currency, it could provide Texas residents with the…
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Tehran and Moscow are discussing the possible launch of a stablecoin for international settlements, the Russian press revealed. In order to mint the gold-backed currency, however, authorities would need to first regulate crypto assets, a lawmaker noted. Russian, Iranian Representatives Talk Using Gold-Backed Stablecoin in Foreign Trade Iran’s central bank is considering the possibility of…
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15 months ago the price of one ounce of fine gold was $1,790 per ounce and since then, it has increased in value 3.51% to today’s $1,853 per ounce exchange rate. While gold has risen in value, the top two tokenized gold coins have grown significantly since then. Pax gold (PAXG), for instance, has seen…
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While gold tapped an all-time high (ATH) this year surpassing $2K per ounce, the top tokenized gold crypto assets by market valuation continue to see significant demand, premiums, and market capitalization growth. For instance, Paxos Trust Company’s PAXG market cap jumped more than 43% in 31 days from $424 million to today’s $611 million. PAXG…
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While stocks and cryptocurrency markets have floundered during the last week, the price of the precious metal gold has increased in value by 3.85% during the last seven days. An ounce of fine gold jumped from $1,826.92 on February 10, to $1,897.36 per ounce on February 19. Additionally, the top gold-backed crypto coins today have…
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On December 15, FINMA-licensed Swiss bank, Seba, announced the launch of a gold token that can be delivered in physical form, on-demand, at any time from the firm’s partner refineries. Seba believes the token can be leveraged as a compliant stablecoin “backed by responsibly sourced gold.” Swiss Bank Introduces ‘Seba Bank Gold Token’ Backed by…
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