Gold is one of the most popular assets in the world, and has long been viewed by some investors as a safe-haven asset. Given this, its integration into the crypto market was only a matter of time.
CACHE, a leader in the gold industry, has created CACHE Gold Token (CGT), a fully backed, redeemable, regulated tokenized version of gold where each token represents 1 gram of gold held in physical reserves. By combining its unique technology, Gramchain, with Chainlink Proof of Reserve, Cache.gold is able to transparently verify each token is backed by physical gold, increase the liquidity of the token, and make it usable within the DeFi ecosystem as collateral while enabling users to maintain full control of their assets.
In this Tech Talk, we will discuss the technical details around CACHE’s tokenized gold product and how it leverages Chainlink Proof of Reserve. We will also explore the advantages of having gold in the digital asset ecosystem, how the physical gold is integrated into the system, and how new tokens are minted.