TechFlow news, September 6 — According to the UK's Financial Times, Nasdaq-listed Blue Gold announced plans to launch a gold-backed digital token. The company currently owns a mine in Ghana (with disputed licensing rights), and its CEO Andrew Cavaghan revealed that the digital token will be linked to future gold production. He said: "I believe gold-backed tokens could succeed globally as a form of currency because people can clearly sense the authenticity of such tokens, and they can be used directly for consumption or exchanged directly for physical gold." Earlier reports indicated that stablecoin giant Tether has recently entered negotiations with mining and investment groups to invest in gold mining, channeling its substantial cryptocurrency profits into the gold market.
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