Sign Up
Select Language
English enDeutsch deItaliano it한국어 koFrançais frNederlands nlFilipino filPortuguês pt-brEspañol esУкраїнська uk中文 zhРусский ru
Logo
Ad
Finance
Share this article

SEBA Bank Offers Token for Digital Ownership of Gold

The token will be backed by physical gold, “ready for anytime, on-demand delivery.”

By Jamie Crawley
Updated May 11, 2023, 7:13 p.m. Published Dec 15, 2021, 9:48 a.m.
(Shutterstock)

In this article

PAXGPAXG$3,345.42◢1.24%GMEGME$0.001389◢0.44%

Digital asset banking platform SEBA is offering a stablecoin that serves as a token for digital ownership of gold.

  • The token will be backed by physical gold, “ready for anytime, on-demand delivery,” SEBA announced Wednesday.
  • The Zug, Switzerland-based firm said the token differs from other gold derivative investment products, such as exchange-traded funds (ETFs) or over-the-counter (OTC) contracts, because investors can redeem the physical metal at any time.
  • The token can also be used as a compliant stablecoin in trading or act as a store of value, SEBA said.
  • Stablecoins and other digital assets backed by physical redeemable gold are not new, however, with New York-based exchange Paxos introducing one in September 2019. According to CoinGecko, PAX gold
    PAXG$3,299.26
    has a daily trading volume of just under $11.7 million.
jwp-player-placeholder
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
By signing up, you will receive emails about CoinDesk products and you agree to our terms of use and privacy policy.

Read more: SEBA Bank Introduces Program for Clients to Earn Yield on Crypto

SEBA BankStablecoinsGold
Jamie Crawley

Jamie has been part of CoinDesk's news team since February 2021, focusing on breaking news, Bitcoin tech and protocols and crypto VC. He holds BTC, ETH and DOGE.

X icon
Jamie Crawley

More For You

Multisig Failures Dominate as $2B Is Lost in Web3 Hacks in the First Half

By Oliver Knight|Edited by Sheldon Reback
Jul 24, 2025
Alt

A wave of multisig-related hacks and operational misconfiguration led to catastrophic losses in the first half of 2025.

What to know:

  • Over $2 billion was lost to Web3 hacks in the first half of the year, with the first quarter alone surpassing 2024’s total.
  • Multisig wallet mismanagement and UI tampering caused the majority of major exploits.
  • Hacken urges real-time monitoring and automated controls to prevent operational failures.
Read full story