Swarm Markets Unveils Gold-Backed NFT Solution to Counter MiCA Stablecoin Rules

The European Union’s Markets in Crypto-Assets (MiCA) stablecoin rules are scheduled to come into effect in just over a week.

TheEuropeanUnion'sMarketsinCrypto-Assets(MiCA)legislationwillgointoeffectforstablecoinsinalittleover aweek. However, a Berlin-basedRWAtokenizationplatformcalledSwarmMarketsmayhavefoundawayarounditbylaunchinganasset-backedtoken:agold -backedNFT .ThroughSwarmMarkets, peoplewillbeabletobuyNFTsthatrepresentrealgoldownership.Thegoldbarsthatbackthetokenizedassets willbe keptinaBrink'svaultinLondon.UserswillbeabletotradeNFTsonSwarm'sdecentralizedover-the-counter(dOTC)plat formpeer-to -peeraftercompletingknow-your-customer(KYC)andanti-moneylaundering(AML)procedures.AccordingtoTimoLehes,co-founderofSwarm,the rosymarketscenariohasledtoalackofattentionbeingpaidtoinnovationintheNFTspace.Hebelievesthatwhilemost peopleassociateNFTs withJPEGsthatsoldforalotofmoney,theycanalsobringausecasethatisverytangibletothe blockchainindustry.

The above is the detailed content of Swarm Markets Unveils Gold-Backed NFT Solution to Counter MiCA Stablecoin Rules. For more information, please follow other related articles on the PHP Chinese website!