The Block Crypto News9 minutes ago

Published on June 25, 2024 00:00 GMT+00:00edited on June 25, 2024 00:04 GMT+00:00

With a little more than one week before the EU's Markets in Crypto-Assets Regulation's (MiCA) stablecoin rules take effect, one real-world asset (RWA) platform sees a way to offer an asset-backed toke: issuing a gold-backed NFT. 

Berlin-based Swarm Markets is planning to let individuals purchase NFTs that represent ownership of physical gold, according to a release shared with the block. The gold bars undergirding the tokenized assets will be held in a London-based Brink's vault. 

Users will be able to swap the NFTs on a peer-to-peer basis via Swarm's decentralized over-the-counter (dOTC) platform after passing know-your-customer (KYC) and anti-money laundering (AML) processes. 

"We think that NFT innovation has been overlooked thanks to the hype cycle witnessed in the …