New gold crypto to blur traditional finance divide

By Grace Ormsby

April 01 2020
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Investors will soon be able to transact in physical gold and digital gold tokens quickly, transparently and easily, thanks to a new digital platform.

Meld Gold is an Australian tech company that aims to integrate into the existing gold supply chain, reporting to offer “far greater market efficiency through seamless trading and quicker settlements”.

A statement announcing the platform has outlined how consumers will be able to transact in both physical gold and digital tokens within a network of participating partners.

The decentralised “industry gold token” is designed specifically to lower barriers to transforming gold into a digitally connected and cryptographically secure stablecoin.

The creation of the new platform means those on gold supply chains such as mints, refineries, dealers and vaults have access to technology that connects them seamlessly and efficiently, according to Meld Gold director Michael Cotton.

He said it brings transparency to the gold market for the first time, through directly connecting buyers and sellers digitally.

“Currently, the gold market provides limited access and little visibility into its supply chain, which makes trading time consuming, expensive and inefficient,” he considered.

Consumers will be able to easily buy and sell Meld Gold through a digital wallet or in person.

In essence, “Meld is creating a cryptocurrency on-ramp for the gold industry and vice versa: the entire gold market will now be connected to the retail investing industry”, said Henrik Andersson, the chief investment officer at crypto fund Apollo Capital.

“The potential impact of this is huge; this is just the beginning of the blurring of the lines between traditional and digital finance,” Mr Andersson said.

About the author

Grace Ormsby

Grace is a journalist on Momentum Media's nestegg. She enjoys being able to provide easy to digest information and practical tips for Australians with regard to their wealth, as well as having a platform on which to engage leading experts and commentators and leverage their insight.

About the author

Grace Ormsby

Grace is a journalist on Momentum Media's nestegg. She enjoys being able to provide easy to digest information and practical tips for Australians with regard to their wealth, as well as having a platform on which to engage leading experts and commentators and leverage their insight.

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