Velo Labs recently unveiled its innovative whitepaper for the “Digital Gold” project, introducing the Pacific Lightnet Gold Token (PLG) that aims to revolutionize gold investments. This initiative integrates with the Solana Foundation, utilizing Solana as the blockchain settlement layer and Velo as the infrastructure backbone for digital gold transactions in Laos. The collaboration with Pacific Bullion Import-Export ensures the secure storage of physical gold reserves that back the PLG tokens, maintaining compliance with storage and reporting requirements.
Key highlights from the whitepaper include the direct ownership of one fine troy ounce of investment grade gold per PLG token, 24/7 accessibility for trading, the option for physical redemption of gold bars, low transaction costs, and high liquidity in secondary markets. Leveraging blockchain technology, PLG tokens provide added security and transparency, with seamless conversion capabilities between digital assets, physical gold, and fiat currency.
Additional benefits of PLG tokens include transparent and authentic delivery of physical gold bars, low transaction costs, easy access and fractional ownership for investors of all sizes, and simplified conversion between digital assets and traditional currencies. Velo Labs, a global leader in Web3-based financial solutions, offers a state-of-the-art liquidity and settlement network for secure and efficient value transfers, supported by the Stellar Network and CP Group.
Pacific Bullion Import-Export plays a crucial role in managing and securing the gold reserves that back PLG tokens, ensuring integrity, security, and regulatory compliance in gold storage. Their extensive experience in precious metals and advanced security measures make them a key player in the Digital Gold initiative, transforming traditional gold trading into the digital era.
Velo Labs continues to lead the way in mass blockchain adoption, bridging the gap between traditional banking infrastructure and Web3 technologies. Through partnerships with key players like Lightnet, Velo Labs offers a wide range of Web3-based products, such as Orbit, designed to empower global financial connectivity and expand accessibility for individuals, traders, corporations, and businesses worldwide.
For more information on Velo Labs and the Digital Gold project, follow them on Twitter and Telegram. Join the revolution in gold investments with PLG tokens and experience the future of digital asset transactions with Velo Labs and its trusted partners.
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