Summary
- SmartGold said it will support U.S. investors in putting gold assets on the blockchain to monetize them in DeFi protocols.
- SmartGold said it will partner with tokenization platform Chintai Nexus to tokenize gold held in Individual Retirement Account (IRA) at a 1:1 ratio.
- The tokenized gold can be used as collateral assets in DeFi lending markets such as Morpho and Kamino.
On the 2nd (local time), according to virtual asset (cryptocurrency) specialist media CoinDesk, gold-based Individual Retirement Account (IRA) provider SmartGold announced that it will support U.S. investors in putting gold assets on the blockchain and earning yields from DeFi (decentralized finance) protocols.
SmartGold partnered with tokenization platform Chintai Nexus for this. Gold held in IRAs will be tokenized on a 1:1 basis through Chintai, and can then be used as collateral assets in DeFi lending markets such as Morpho and Kamino.
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.
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