Security Tokens Backed by Gold and Silver Being IssuedOctober 29, 2018
Security tokens that are backed by Gold and silver are being issued by Canamex Gold Corp.
Security tokens backed by real estate tokens like those offered by Leaseum Partners are very common. And, it is just the time when regulated asset-backed security tokens are being issued to the whole world. However, when Assets like gold and silver are tokenized, Canamex states, “Will Eat the World.”
The process of issuing gold and silver tokens to accredited investors is done with a motive to see them listed in Malta Digital Exchange (MDX).
David Vincent, the CEO of Canamex stated, “Only a few with their soul in the game are sufficient to move the needle.” He further added that the capital markets would not move by little consensus, majority, regulation, tea and scone meetings, or academic economist opinion.”
In an inefficient and outdated capital market, an asymmetry is developed, which is very important in the process, and a few with the soul in the game are enough to move the needle, he opines.
Both the Gold and silver backed assets are ERC20 tokens that will be running on the Ethereum blockchain. Each of them is individual digital assets. Both of these assets were initially made available at a price that reflected 30% discount, which is relative to the spot prices of gold and silver.
GOLDUSA are gold backed tokens. Every token represents 1/200 oz gold and the first sale happened in August, and the silver-backed tokens were launched on October 03, 2018.
With the addition of MOU with MDX, these assets will set an early example of what one can do with security tokens which are regulated by the compliant exchanges.
This is one of the exciting times in the global capital markets due to the upcoming licensing and regulation of security tokens in exchanges like MDX. These tokens are going to democratize the capital markets at the global level. They are going to provide with greater transparency, and price efficiency with regulation for both investors and token issuers.
Canamex is a very innovative and progressive company, and therefore Rick Clink stated that they were very happy to partner with the company.
Security tokens as a new digital asset class have a range of information requirements. The platforms on which these tokens are listed will be communicating the information about who are the owners of the token and their verified identity.
MDX and Canamex are set to cover the technical and regulatory factors that are legally required for these tokens. This is the one of a kind asymmetry that will be able to move the needle.