Blockchain News


Kinka Gold Launches New Japanese Tokenized Gold $XNK

February 22, 2024

The tokens represent an exciting time for gold on the blockchain, with tokenized gold predicted to become a mainstay in DeFi markets, especially as more institutional investors begin adopting crypto, and more use-cases for on-chain gold are developed. Kinka Gold  is 100% reserve-backed by premium 99.9% pure Japanese gold that conforms to all LBMA standards. The gold is held in bankrupt-remote vaults, is fully audited, and entirely compliant with all Japanese regulations. The price of each $XNK token is pegged directly to the price of gold, with 1 $XNK equivalent to one fine troy ounce of gold. The gold is issued by a subsidiary of Daiichi Commodities, a Japanese trading house that has been trading gold for over 40 years, is regulated for use on the Osaka Exchange, and the token represents redeemable ownership of the gold itself. The $XNK token is an opportunity for citizens living in jurisdictions where fiat-backed crypto is unavailable, and is a way for retail investors to add gold exposure to their portfolio quickly and efficiently. Gold has continued to be a mainstay asset in global finance even to this day. It's stable, accepted worldwide, inherently scarce, and useful in industries like fashion and electronics. As traditional finance continues to adopt blockchain financial systems, fully audited and regulated tokenized gold is a must. It also acts as an easy way for citizens of countries where fiat stability is poor, including unbanked countries, to have an easy way to preserve their wealth. This initial rollout of a test tranche of the tokens, with further rollout planned as more gold is added to the reserve. The hope is for $XNK to become one of the world's essential gold-backed crypto tokens used everywhere in DeFi, Web3, and the entire crypto industry. Tokenized gold  inherits all of gold's legacy qualities, while gaining further benefits like extremely efficient transfer, zero storage costs, hyper-divisibility of value, and cryptographic security. Whether used as a financial instrument, used to pay bills, or simply existing in a retail investor portfolio, $XNK is an easy way to conduct financial activity using premium gold as the underlying asset. Real World Assets (RWA) like $XNK are seeing substantial uptick in interest  from Web3 communities as the understanding over how tokenization can make global markets more efficient become clearer. Kinka Gold with its $XNK is exceptionally placed to be a world-leading gold-backed cryptocurrency used in DeFi.



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