Crypto
OCBC Launches Tokenized Gold Fund on ETH and SOL
Singapore's OCBC bank has launched GOLDX, a tokenized physical gold fund, in partnership with Lion Global Investors and DigiFT. The product is designed to attract institutional investors, hedge funds, and asset managers, providing on-chain exposure to the $525 million LionGlobal Singapore Physical Gold Fund.
The GOLDX token can be purchased using stablecoins or fiat currencies and is delivered directly to investors' blockchain wallets. OCBC aims to bridge traditional finance with decentralized finance through this product.
Kenneth Lai, head of global markets at OCBC, stated, 'We believe digital assets will play an increasingly important role in financial services.'