Klaytn Blockchain Welcomes Creder's Gold Pegged Coin

Creder's GPC Launches on Klaytn for Transforming Gold Tokenization

Creder, a South Korean startup specializing in asset digitization, is gearing up to introduce Gold Pegged Coin (GPC), a gold token backed 1:1. This move represents a shift from the common practice of gold tokenization mostly being on Ethereum. Creder stands out by choosing the Klaytn blockchain strategically, emphasizing low fees and scalability. This move is set to reshape the discussion around gold-backed NFTs in the decentralized finance (DeFi) sector.

Creder's GPC is set to launch later this month, marking a breakthrough in gold tokenization beyond Ethereum. Unlike alternatives such as Tether Gold (XAUT), which are limited to the Ethereum blockchain, Creder has opted for Klaytn. This decision demonstrates a dedication to making tokenized gold more accessible to everyone, thanks to the efficiency and cost-effectiveness of Klaytn's infrastructure.

Creder's unique approach stands out not just because of the introduction of GPC but also the simultaneous launch of Goldstation, a innovative DeFi platform. Goldstation is designed to transform physical gold into GPC tokens. What sets it apart is the addition of non-fungible tokens (NFTs) through a partnership with The Mining Club. These NFTs act as collateral for creating GPC, representing a noteworthy advancement in the digitization of precious metals.

The Klaytn Foundation is working to expand the Klaytn ecosystem and sees great potential in integrating NFTs into the gold tokenization process. Goldstation, the platform involved, aims to bring a new dimension to decentralized finance by allowing users to use their tokenized gold as collateral. This introduces fresh opportunities for earning income in the cryptocurrency space.

Goldstation and GPC will first be available to users in South Korea, facilitated by the Korea Gold Exchange Digital Asset (KORDA) for custody. However, the big picture involves a broader vision. Creder envisions a future where Goldstation goes beyond gold tokenization, aiming to include a wide range of real-world assets (RWA) in its tokenization services.

Gold tokenization is becoming increasingly popular worldwide, with big financial players getting involved. HSBC recently revealed plans for a gold tokenization platform in London, highlighting the industry's acknowledgment of the massive $525 billion market potential. Creder takes a distinctive approach, utilizing Klaytn, not only to enter this growing market but also to innovate by incorporating NFTs into the gold tokenization system.

The teamwork of Gold Pegged Coin and Goldstation showcases the exciting possibilities of NFTs in the precious metals sector. With the market progressing, the partnership between Creder and Klaytn opens doors for wider NFT adoption in different tokenization projects, going beyond traditional cryptocurrencies.

Conclusion

Creder's entrance into gold tokenization on Klaytn marks a significant shift in the industry. They've opted for a blockchain recognized for its efficiency and scalability, and by incorporating NFTs via Goldstation, Creder isn't just following the gold tokenization trend but actively influencing its future. This unique strategy not only emphasizes the importance of NFTs in digitizing real-world assets but also highlights the transformative power of blockchain in reshaping traditional finance.

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