Thursday , May 26 2022

Cryptocurrency: Gold and Stocks are coming to Blockchain


Investors will soon be able to buy gold and stocks in the form of cryptocurrency, the same way they could buy Bitcoin.

Paxos, a new New York company already offering dollar aid cryptocurrency (known as stablecoin) as well as Bitcoin trading services, intends to introduce digital tickets supported by valuable metals and commercial stocks in 2019.

The company launched its stablecoin, Paxos Standard, six months ago by giving money to blockchain-a digital casebook of transactions with the backbone of any grip-clarity. Now, he wants to take "any type of asset and put it in a block," said Paxos CEO Chad Cascarilla Fortune "Balancing the Ledger." The aim is to move assets and settle transactions faster and safely and with lower fees, he added.

In order to make it work, Paxos must ensure that he holds the same list as if it are dollars, precious metals, or stocks in the "real world" as they are registered on the block. "How you will do with a gold ticket is as much gold you have in a cottage that matches the amount of excellent gold docks," Cascarilla explained. "How do you do with stocks? How many stocks do I sit in an account, which corresponds to the amount of stocks in the block."

It is likely that there is a remainder of a reality that provinces and stock market bonds will be deducted, assets Paxos have already proven successfully in blockchain transactions, says Cascarilla. "We're getting pretty close, and I think we'll see it in 2019."

Cascarilla believes that Paxos is the only company cryptocurrency with a count in the Depository Trust Company, which holds the vast majority of stocks and bonds and US, placing the company to be the first to bring stock trading to the blockage. Still, paxos, the first virtual virtual company to be licensed in New York, needs additional approval from the Securities and the US Exchange Commission before it can introduce illegal encryptions to more traditional securities. He is currently waiting for that approval – something that long-term government closures did not help speed up.

Giving goods on the blockchain is also underway, and "it's probably the best of gold," said Cascarilla, adding that it would be "definitely presented this year."

Growth-growing metals open new possibilities that are currently physically difficult – such as sharing a gold bar for smaller denominations, transporting heavy amounts easier, or lending out the assets more efficiently, Cascarilla explained. "To have him sitting in a branch but also having a type of block of bridges of those two worlds," he said.

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