APRA, a cryptocurrency token by Apraemio, which is backed by real Gold in Mali, Africa, debuts on large centralized crypto exchange BitMart.
APRA token now available for trading on CEX BitMart
Issued by Apraemio, APRA is said to be the first real-world-asset token backed by a growing supply of its real-world collateral and is thus part of what experts suggest might be a new generation of deflationary RWA tokens.
Speaking about the project, Apraemio CEO Dr. Zoltan Varga stressed its uniqueness and game-changing character for RWAs segment:
Unlike many other gold-backed tokens, Apraemio is backed by ever-increasing tangible gold reserves from Mali, Africa, with a commitment that 50% of the mined gold is reserved for token redemption. This means that we are not another gold stablecoin, but a way for anyone to have access to the yields from a real life gold mine
Conversely, while existing gold-backed tokens such as Pax Gold or XAUT by Tether Limited already provide seamless access to tokenized gold on 1:1 basis, APRA offers exposure to an increasing supply of gold that all token holders can redeem in the future.
Although research regarding the contents of the said mine is still ongoing, recent findings suggest extensive reserves of at least 13 tons of gold, which would translate to north of $1 billion in the current gold price.
More announcements for the APRA community to come
GGS’s, the company which oversee’s gold extraction and exploration in Mali’s Komassala Sud region, has achieved significant milestones recently, with the discovery of 13 tons of proven gold reserves within a mere 1.2 sq km of the licensed 65 sq km area.
This reliable result underlines the region’s vast untapped potential and sets a strong foundation for the 2024 drilling program
As RWA tokens continue to gain support in the crypto industry, they are poised to redefine traditional asset-backed investments by combining blockchain transparency with the stability of tangible assets. Apraemio brings an interesting take on asset-backed tokens to the table, yet it remains to be seen if the market appreciates this innovative approach.