by DION HENRICK
CAPE TOWN, (CAJ News) – THE South African digital asset management firm, DAMREV, has announced the tokenisation of American alluvial gold reserves, to the tune of over US$2,4 billion.
This is through a partnership with the Metropolitan Area Networks (MAN).
The first phase project introduces a framework for tokenising an initial 890 000 troy ounces (27 682 kilograms) worth of gold-bearing assets.
Designed to escalate in purchase value across four key production phases—discovery, extraction, processing, and refinement—the passive appreciation of the tokens will culminate in the rendering of 24-karat ½-ounce minted gold coins.
Each phase of production escalates the value of the underlying asset while providing fractional ownership through secure and leverageable digital tokens, according to the partners.
Anthony Stonefield, DAMREV’s North American Advisor, explained that by combining blockchain innovation with the intrinsic value of gold, the company was redefining investment opportunities and ensuring that these opportunities were accessible to everyone.
“This project utilizes advanced FinTech to afford a more equitable financial landscape for all,” he said.
The Western Cape-headquartered DAMREV is emerging as a leading real world asset (RWA) tokenisation company, specializing in transforming traditional assets into digital tokens using the Stellar Blockchain.
William Chastain, Chief Executive Officer of MAN, said, “With this initiative, we are bridging the gap between the physical and digital worlds, offering a solution that is both innovative and rooted in traditional value.”
– CAJ News