Gold wholesalers are starting to find new ways to expand their businesses to retail, thanks to blockchain-based tokenization. International bullion trading company AgaBullion and United Kingdom-based fintech Aurus Technologies have signed a partnership to offer gold-backed tokens in the Turkish market.
The partnership will see investors own grams of LBMA-accredited gold via AurusGOLD. As a gold-backed ERC-20 token on the Ethereum blockchain, AurusGOLD (AWG) is minted and distributed by precious metals dealers using Aurus’ blockchain-based solution.