CandleFocus Cardano Welcomes Gold Tokenization: EMURGO Partners with Kinka Gold to Launch XNK
2024-09-19
Author: Content Editor
EMURGO, a founding partner of Cardano, has announced a partnership with Kinka Gold to launch a gold token on the Cardano blockchain. The token, XNK, is backed by premium Japanese gold that meets LBMA standards and will be stored in remote vaults. This move is significant as it allows for the creation of other real-world asset tokens and provides a gold-backed stablecoin in jurisdictions that do not allow traditional fiat-backed stablecoins. The integration of gold into Cardano's DeFi ecosystem could also increase liquidity and use cases, further establishing Cardano as a leading blockchain platform.
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