Creder Issues Korea's First Physical Deposit-Based Gold Coin

Creder announced on the 21st that it will open Korea's first RWA (Real-World Asset) platform 100% backed by physical gold, called 'Gold Station,' early next year.

This is the first of its kind in Korea, while recently HSBC launched a platform to tokenize ownership of physical gold stored in its London vault.

Creder is launching a full-scale RWA business through GPC (Gold Pegged Coin), which is issued backed by The Mining Club's Gold NFT (Non-Fungible Token) linked to physical gold. Initially, six types of Gold NFTs, including 1g, 10g, and 100g, will be released through the 'SenGold' app operated by Korea Gold Exchange Digital Asset. Users can issue Gold NFTs by collateralizing e-gold held in SenGold and can exchange them for physical gold with 99.99% purity.

Gold NFTs have low fees and no VAT, allowing them to be purchased at a price cheaper than physical gold. When issuing the gold-backed token GPC on 'Gold Station,' users can also expect investment returns by utilizing DeFi products.

Creder plans to continuously introduce various real-world asset (RWA) linked tokens starting with gold, and expanding to silver, copper, palladium, and more through 'The Mining Club,' a platform that converts Gold NFTs into e-gold, and the DeFi platform 'Gold Station.'

Im Daehoon, CEO of Creder, stated, “Gold NFTs and GPC can be verified on-chain by anyone through the Proof of Reserve (POR) of the Oracle Network,” adding, “We will create a new standard for RWA based on transparency and trust.”

Meanwhile, Creder is a joint venture established in 2022 by ITCEN Group, which has Korea Gold Exchange and Korea Gold Exchange Digital Asset as affiliates, and BPMG, a blockchain technology company, developing a spot-based (RWA) digital asset financial platform service.