Singapore-based companies CACHE Private Limited, a provider of fully-redeemable digital assets backed by gold, and Onchain Custodian Private Limited, the digital assets custody service provider backed by Fosun, Sequoia and DHVC, announced a strategic partnership to enable the insured safekeeping of gold-backed tokens.
Onchain Custodian has securely integrated the CACHE blockchain infrastructure so that its existing customers can invest in a gold-backed digital asset while allowing existing and future CACHE token investors to safeguard their assets in a secure and insured way. CACHE will promote the use of Onchain Custodian services to institutional and qualified investors interested in managing their CACHE token holdings with an independent third-party custodian alongside their other digital assets.
CACHE Gold tokens (CGT), are backed 100 percent by investment-grade physical gold. The gold is stored around the world in secure vaults operated by Dillon Gage, Brink’s, Loomis and The Safe House. Each CACHE Gold token is the equivalent to one gram of pure, physical gold. CACHE tokens can be redeemed for their equivalent value in gold at any time. In amounts as small as 100 grams, redeemed gold can be sold for USD, shipped to the token holder’s address or collected in person at select vaults.
CACHE, which is regulated under Singaporean law, uses GramChain, a revolutionary new Proof-of- Reserve system, asset-tracking to store data as standardized events. This enables the public to view photos and see real-time status updates for each bar backing CACHE Gold. CACHE’s token supply is kept in sync with its underlying gold supply via the CACHE Token Governor that ensures the number of tokens in circulation never exceed the number of grams of pure physical gold locked and tracked by GramChain. CACHE tokens are unique because they are backed by physical gold that is redeemable by token holders on demand.
Read More: SIMON Markets LLC and Raymond James Launch New Strategic Partnership for Annuities
