Singapore-based CACHE has announced a strategic partnership with Onchain Custodian to enable the insured safekeeping of gold-backed tokens.
CACHE Gold tokens (CGT) are 100% backed by investment-grade physical gold which is stored around the world in secure vaults operated by Dillon Gage, Brink’s, Loomis and The Safe House.
Tokens can also be redeemed for physical gold in nominations as small as 100 grams which can then be collected in person, sold for USD or sent to a home address.
CACHE is regulated under Singaporean law which makes it an appealing partner to Onchain Custodian, who offer robust and secure storage of digital assets.
“All fungible valuable assets will ultimately be tokenised.” Said Alexandre Kech, CEO Onchain Custodian.
Had the privilege to share @oncustodian's experience on a panel organised by @IBM for their Digital #IBMThink conference, next week. You can still register here: https://t.co/czErhbM7DG#ibmcloud #digitalasset #digitalassets #absolutesafe #digitalassetcustody pic.twitter.com/bDX5nBFF4V
— Alexandre Kech (@AlexandreKech) April 30, 2020
“Our objective is to become a token agnostic custodian provider enabling our customers to hold all their digital assets with us. Adding gold-backed CACHE tokens, is part of this grand plan. Working only with reliable players is also part of that plan and we are glad to be able to partner with the CACHE team.”
Onchain Custodian’s customers now have a wide array of offerings including lending and investments, with the gold-backed token becoming a positive addition.
They can also benefit from the independent escrow service of Onchain Custodian to secure the settlement of their OTC trades
Brian Hankey, CACHE co-founder said: “We are honoured to partner with Onchain Custodian because of their well-deserved status as a premier digital asset custodian with world-class technology, security and ease of use. Our customers can be assured their assets are safe with Onchain Custodian.”
Disclaimer: The views and opinions expressed by the author should not be considered as financial advice. We do not give advice on financial products.