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The Public Company Putting Gold on the Blockchain

December 11, 2023
x min read

Gold is finding its way onto the Ethereum blockchain.

What’s happening:

  • Toronto based crypto company Wellfield Technologies (TSXV:WFLD) is preparing to launch their tokenized gold ecosystem onto the Ethereum blockchain
  • The new venture will enable decentralized spot trading and fractionalized ownership of gold to both individuals and institutions

Why it matters:

  • There have been a number of crypto startups pursuing putting gold on the blockchain in an effort to deepen liquidity, increase accessibility to owning precious metals and reduce potential counterparts risks
  • Gold is still one of the world’s most important asset classes and has recently been trading near all time highs

Going deeper:

  • Wellfield will leverage the infrastructure of their wholly owned subsidiary Tradewind Markets for their tokenized gold ecosystem
  • All tokenized gold will represent physical gold that is held in custody by the Royal Canadian Mint

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