Table Of Contents
The Canamex platform made headlines this week after the firm announced the release of both gold and silver backed security tokens. The Canadian-based mining firm originally stated their blockchain intentions mid-2018. This week saw the fulfillment of the first stages of their plan to tokenize the gold and silver markets. Interested parties can now purchase these long-awaited GOLDUSA and SILVERUSA tokens according to the company's latest press release.
Each GOLDUSA token represents 1/200 oz of gold. This is approximately 35% less than the current USA gold prices. Canamex has set a 500GOLDUSA ($2,250) minimum investment. Those looking to participate in this unique blockchain event will need to make their purchase using fiat currency such as USD or CAD.
Investors need to get their GOLDUSA tokens using the Digital Securities Offer Board provided by New Dawn Capital Pty Ltd. The firm specializes in STOs and offering digital securities via their Vestabyte Securities platform. The company’s current offering is subject to change in accordance with changes in the gold and silver market spot prices. Currently, investors can save around 30% compared to the current gold and silver market.
Canamex isn't the only blockchain firm looking to tokenize gold and silver by any means. What makes the platform particularly unique is the developer’s choice to utilize ERC-20 compliant tokens. This maneuver places the company in an ever growing class of Ethereum-based security token offerings.
Additionally, utilizing the Ethereum blockchain comes with a number of significant advantages. For one, Ethereum is one of the most secure blockchains in the world. Also, ERC-20 tokens continue to see huge developments in terms of platforms and interoperability. This year saw the emergence of decentralized ERC-20 token exchanges such as ForkDelta. In turn, this provides token holders with more liquidity in the market as it continues to expand.
Vancouver-based Canamex currently trades on the Canadian Stock Exchange (CSE) under (CSE: CSQ). Originally, the company entered the market as a mineral exploration company. The firms latest STO regards their mining of the Bruner Gold and Silver Project in Nevada. The company hopes to secure $10 million in funding to further their hunt for precious metals at the location.
Asset-Backed Security Tokens on the Rise
Asset-backed security tokens continue to be a huge draw for investors looking for a safe entry into the cryptomarket. Both governments and private investors utilize these tokens to minimize risks. Additionally, a number of securities trading platforms have entered the space. Most notably, the Malta Digital Exchange (MDX) signed a Memorandum of Understanding (MOU) with Canamex Gold Corporation in November 2018.
Canamex + Malta = a Blockchain Masterpiece
There is no doubt that Canamex will see significant investment into their platform. As one of the very first government-approved tokenized precious metal security token providers, the firm is positioned perfectly for the coming months. You should keep a close eye on Canamex as there are sure to be some huge developments regarding their latest projects.
You may like
What is a Cap Table, and Why are they Important?
Investing In Liechtenstein Cryptoassets Exchange (LCX) – Everything You Need to Know
Security Token Market’s ‘Web3-Enabled’ Tokenized Crowdfund Goes Live
Investing In Science Blockchain (SCI2) – Everything You Need to Know
Security Token Market (STM) Gauging Interest in Securitize Enabled STO
Analyzing the Growth of Digital Securities: 2021 Security Token Summit