UAE Residents Can Now Own Digital Gold Starting at $1
A revolutionary investment opportunity has been launched in the UAE, allowing residents to own digital gold through fractional ownership. Fasset, a digital asset platform, has introduced the ORO token, which enables investments in gold from as little as $1.
Each ORO token represents one ounce of 99.99% fine gold, securely stored with top-tier custodians and fully insured, according to Daniel Ahmed, COO and co-founder of Fasset and Own.
Breaking Barriers to Gold Ownership
The minimum investment for ORO tokens starts at $1, making gold ownership more accessible than ever. Investors can redeem tokens for physical gold starting at $85 or exchange them for USDC after a one-day lock-in period. Tokens used for staking may have varied lock-in periods, but future pools aim to provide near-instant trading options.
“Digital gold offers not only the benefits of yellow metal’s historical appreciation but also additional returns through staking,” Ahmed noted. Staking ORO tokens can yield an annual percentage return of 3-4%.
Gold-Backed and Fully Audited
Ahmed assured that ORO tokens are fully backed 1:1 with physical gold, verified monthly through third-party attestations. The gold reserves are stored with blue-chip custodians such as Brinks and are independently audited and insured.
$1 Billion Targeted in Tokenized Gold
Fasset plans to tokenize $1 billion worth of yield-bearing gold within the first year. The platform’s Ethereum Layer 2 network, Own, powers the ORO token in partnership with The Own Foundation.
This innovative approach combines affordability, accessibility, and transparency, making gold investment simpler and more manageable compared to traditional methods.
Fasset has secured $26.7 million in funding and holds regulatory approvals across multiple countries, including the UAE, Indonesia, Malaysia, the EU, Turkey, and Pakistan, for tokenized asset offerings.
Why Digital Gold?
Digital gold allows users to buy, sell, and redeem in smaller increments, making it a convenient and cost-effective alternative to traditional gold ownership. It also ensures users benefit from both market appreciation and staking opportunities.
With early access expected in Q1 2025, this initiative opens up new horizons for investors looking to diversify their portfolios with the stability of gold.
