NEW YORK, N.Y. /Oct. 4, 2022/––The Tokenized Commodities Council (TCC) announces the formation of its not-for-profit trade association with a mission to educate the financial services industry on the benefits of tokenized commodities and the rapid growth of this new asset class. While critical to the global financial system, few technological innovations have emerged to bring efficiency and speed to this market. Tokenized assets will change this dynamic.
The TCC is an independent partnership organization, with a not-for-profit mission and open-door policy. The TCC’s mission is to establish tokenized commodities as safe, accessible, and desirable digital assets for broad institutional and consumer adoption, while also promoting fair and sustainable industry practices. The TCC will work to educate the investment community on the significant benefits and opportunities for this compelling innovation.
Blockchain is revolutionizing markets with the emergence of digital assets.
Proponents of tokenized commodities, which peg digital tokens to assets in the precious metals, natural resources, energy, livestock, and agriculture space, emphasize their price stability and additional liquidity. As the worlds of traditional and digital finance become increasingly intertwined, tokenized commodities serve as a connection between legacy and new markets. Tokenized commodities hold the real-world value of hard assets, but feature the benefits of crypto. These assets can be transacted globally, 24/7 and are freed from the constraints of legacy markets built upon outdated infrastructure. Additionally, due to the cumbersome nature of commodities, tokenization of this asset class will facilitate mobilization and greater access for investors of all kinds.
Investors today are beginning to embrace the power of the blockchain to create new types of assets that can travel seamlessly between the familiar physical world and the emerging digital economy.
The TCC’s founding partners are among the market leaders who are driving that change.
Active members from the digitized commodities space include founding members Diamond Standard, LODE and Paxos. New members include Brinks and Trovio.
“Worth 1,000 times more than Bitcoin, the blockchain has also sparked a revolution for commodities, enabling new assets like the Diamond Standard Coins and Bars, and creating a more efficient and transparent marketplace for every existing commodity. The goal of the TCC is to spread the word, and establish best practices,” said Cormac Kinney, Founder and CEO of Diamond Standard.
“The tokenization of commodities on Blockchain offers many benefits such as improved liquidity, enhanced accessibility, transparency, and efficiency, by providing an opportunity to trade a whole or fractional representation of commodities. The formation of The Tokenized Commodities Council will provide access to education, exposure to new ideas, and resources. The Council will foster unique ways to enable digitalization of real world assets via tokenization of commodities including oil, gas, and diamonds, as well as the gold, silver, and precious metals that are tokenized by the LODE Project,” said Bruce Kamm, Digital Payments Strategist of LODE.
Charles Cascarilla, CEO and Co-Founder of Paxos, commented, “Blockchain technology is revolutionizing the global financial system and will redefine how investors interact with high-value commodities markets. We believe that improving institutional and retail investors’ understanding of blockchain will significantly drive the adoption of tokenized commodities. We look forward to working with the Tokenized Commodities Council to drive impact in this space.”
TCC will expand to other commodity types in the metals and mining, agriculture, energy, and livestock sectors, eventually covering the tokenization of all real assets.
For membership inquiries, upcoming events, or to learn more about the financial benefits of tokenized commodities please visit: https://www.tokenizedcommodities.org/
About:
Brinks: has been safeguarding valuables since 1859. With 150 years of experience, Brink’s offers the utmost quality of service and sets the market standard. Offering secure transport and security services in more than 110 countries.
Diamond Standard is the producer of the world’s first diamond commodities. Diamond Standard is a technology developer, diamond market-maker and commodity producer, headquartered in New York City.
LODE restores physical silver and gold as money, to protect your wealth and build a more honest economy. By adapting precious metals for our digital economy, LODE is helping everyone reach financial freedom.
Paxos is the leading regulated blockchain infrastructure platform. Its products are the foundation for a new, open financial system that can operate faster and more efficiently. Today, trillions of dollars are locked in inefficient, outdated financial plumbing that is inaccessible to millions of people. Paxos is replatforming the financial system to enable assets to instantaneously move anywhere in the world, at any time, in a trustworthy way.
Trovio is Asia Pacific’s leading hybrid asset manager and technology solutions architect. Founded in 2017, the Trovio Group is reimagining the existing market infrastructure and economic landscape.
