According to a research report by Bank of America, the tokenized gold market surpassed $1 billion in value last month, driven by the tokenization of real-world assets such as precious metals on the blockchain. Tokenization offers the convenience of buying and selling these assets around the clock without traditional brokers. Bank of America sees the tokenization of real-world assets as a key driver of digital asset adoption, providing exposure to physical gold, 24/7 real-time settlement, no management fees, and no storage or insurance costs. Tokenization of the gold supply chain could benefit ESG-focused investors that need proof that gold came from a specific mine or region, the report added.
(By Will Canny)
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