Key Takeaways:
A partnership between MultiBank Group’s crypto arm mb.io, Kings Orbis, EON3 Group, and Mavryk will bring physically-backed West African gold on-chain, the companies announced on May 11. The program will tokenize gold from the Ashanti Kingdom in Ghana, making it available to global investors in a fractional, digital format for the first time.
"This partnership represents a defining moment for real-world asset tokenisation," Zak Taher, CEO of mb.io, said. "By bringing the heritage and value of Ashanti gold on-chain through mb.io RWA, we are giving global investors access to one of the world’s oldest and most trusted stores of value in a fully digital, fractional, and regulated form."
Under the plan, each token will represent direct ownership of physical gold vaulted in Dubai under LBMA-approved custody. The program is being coordinated by Kings Orbis, with EON3 Group supplying the gold and Mavryk providing the Layer 1 blockchain infrastructure for the tokenization. The program is one of the largest initiatives in development on mb.io's Real-World Asset platform.
The move aims to bridge the gap between traditional assets and the digital world, providing a new level of access and liquidity to the gold market. The partnership also plans to tokenize a collection of "Gold Art" inspired by Ashanti gold, adding a cultural dimension to the financial product. The four partner firms recently attended the World Peace Summit in Ghana, where they received the personal support of the Ashanti King, His Majesty Otumfuo Osei Tutu II.
This article is for informational purposes only and does not constitute investment advice.
