Nasdaq-listed company Blue Gold plans to launch a gold-backed digital token

ChainCatcher news, Nasdaq-listed company Blue Gold announced plans to launch a gold-backed digital token. The company currently owns a mine in Ghana (with disputed licensing). CEO Andrew Cavaghan revealed that the launched digital token will be linked to future gold production, stating, "I believe that gold-backed tokens could achieve great success globally as a form of currency, because people can clearly feel the authenticity of these tokens, and they can be directly used for consumption or exchanged for physical gold."

Previously, stablecoin giant Tether has recently been in talks with mining and investment groups, planning to invest in gold mining and channeling its massive cryptocurrency profits into the gold market.