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- 📢 Gate Square Ambassador Recruitment is Now Open! 🔥
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RWA platform Swarm Markets will tokenize gold through NFTs
Odaily Planet Daily News Berlin RWA platform Swarm Markets plans to launch NFTs representing ownership of physical gold for individuals. The gold bars supporting tokenized assets will be stored in Brink's vault in London. After completing the KYC and Anti-Money Laundering (AML) processes, users will be able to exchange NFTs peer-to-peer on the decentralized over-the-counter (dOTC) platform provided by Swarm. Swarm said that its tokenized gold will not be subject to the upcoming MiCA regulation in the cryptocurrency market, as according to the official text of MiCA, "such regulation should not apply to unique and non-interchangeable crypto assets, including digital art and collectibles." (The Block)