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Gold Embraces Digital Transformation to Compete with Cryptocurrencies
Gold Embraces Digital Transformation to Compete with Cryptocurrencies
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BTCCSquare news:
The World Gold Council is pioneering a digital FORM of gold, aiming to modernize the ancient asset and expand its market reach. This initiative, reported by the Financial Times, introduces 'pooled gold interests' (PGIs), enabling fractional ownership and digital trading of bullion.
David Tait, CEO of the World Gold Council, argues that digitization will unlock gold's potential as collateral for banks and broaden its appeal to investors. "Standardizing the digital LAYER of gold allows financial products from other markets to integrate seamlessly," he told the Financial Times. The move challenges cryptocurrencies' dominance in the digital asset space while preserving gold's traditional role as a safe-haven asset.
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