LAToken Partners with MyGold to start Tokenizing Commodities
Industry: Technology
London (PRUnderground) August 18th, 2017
LAToken, the first tokenized assets exchange, partnered with MyGold, a gold and silver manufacturing company and mint based in Auckland, New Zeland, to tokenize and list gold at LAT Exchange. Our partnership will give crypto investors a chance to add gold, the most popular “safe haven” asset, to their portfolios, buying it with cryptocurrencies.
“Never before has such exciting technology existed where gold could be combined with a tokenized assets exchange. By combining those, you get the best of both – the security of having a physical asset and the convenience of a crypto. Together with LAToken, we have found the perfect way to make gold more accessible, convenient, and tradeable,” – says Richard Elliott, CEO of MyGold.
LAToken’s mission is to bring assets worth $600 trillion, ranging from equities and debt to real estate and works of art, onto a blockchain exchange, enabling crypto investors to buy them using cryptocurrencies at minimal transaction costs and maximum transparency and security.
Earlier this week LAToken launched test trades of tokenized Apple shares at LAT Exchange. Within weeks new asset classes will be added, giving the individual investors an opportunity to invest across asset classes without spending a fortune. For example, a share in Apple Inc today costs $160, and an ounce of gold costs $1286, which makes it impossible for an investor with just $100 to own any of those at this point. At LAT Exchange anyone can buy fractions of those assets exactly for the amount of money they want to invest.
“My dream is to build a NASDAQ on Blockchain with a wider range of tradable assets, blurring the boundaries between crypto- and real ecomonies, and offering our clients a dramatic reduction of listing costs, settlement time, and transaction costs,” – says Valentin Preobrazhenskiy, CEO of LAToken.
The platform is already operational, and to develop it further, LAToken starts a Public token sale on August 22. There will be four rounds, each designed to add a new asset class.
About LAToken
LAToken is a blockchain platform that tokenizes and makes tradeable assets ranging from equity and debt to real estate and works of art.
For asset owners: LAToken unlocks the value of assets by enabling owners to sell their tokenized fractions to crypto-investors.
For investors: LAToken opens global access* to real assets using cryptocurrency, with low transaction costs and maximum transparency and security.
LAToken is based on a profitable home equity marketplace and back office for hedge funds founded by LAToken’s CEO, who invested $1m in this business. The marketplace, which was founded in 2013, processed 1,000+ deals last year with 35 banks and investors and is now adding new asset classes.
About MyGold
Conveniently located in Auckland, New Zealand, MyGold is an independent and family owned company that manufactures and sources physical gold and silver. Offering a wide range of quality gold and silver bullion products, MyGold is trusted by both individual and institutional investors, offering competitive rates to fit all size budgets.
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