Perth, Western Australia Sep 17, 2021 (Issuewire.com) – Highlights:
- Bittrex Global lists xbullion SILV under ticker xSILV
- each xbullion SILV Token is secured by 1 gram of 999 investment grade physical silver which is directly owned by the token holder
- Users can now purchase and trade digital silver in USDT
- xbullion SILV offers additional liquidity benefits with physical ownership
xbullion has launched their silver token (SILV) on the Bittrex Global exchange, under the ticker code xSILV. This marks a big step for the digital asset industry with the introduction of an institutional-grade, physically-backed silver token.
As the world becomes more aware of the inherent issues in the silver market, a reputable secure digital solution providing physical ownership addresses a lot of the concerns of paper silver traders. SILV unifies the benefits of physical ownership with the liquidity of paper-based markets.
This is another milestone achievement for xbullion with its mission to offer world asset security, direct ownership, and global liquidity in commodities. Achieved through an immutable ledger of transactions, and implementation of best practices in precious metals storage. xbullion works with a best-in-class ecosystem of industry-leading partners across vaulting, auditing, logistics, and supply to deliver peace of mind to their users.
What is the xbullion Silver token?
Similar to its predecessor xbullion GOLD, the xbullion SILV stablecoin is a silver-backed cryptocurrency that creates an immutable record of silver ownership. Each SILV token represents direct ownership in 1 gram of 999/LBMA silver bullion which is insured, audited, and secured in state-of-the-art geo-dispersed vaults. SILV tokens can be traded, accessed, or sent anywhere around the world to any ERC-20 compatible wallet or exchange that supports xbullion SILV.
xbullion’s network of industry-leading suppliers enables the democratization of access of best-in-class providers enabling xbullion SILV to operate on tight spreads with deep liquidity. The token charges no ongoing management fee making it one of the most economical approaches to owning physical silver without sacrificing asset security.
xbullion’s approach is unique in the market with its ability to provide unparalleled digital asset security through its smart contract functionality. SILV transactions are unable to be reversed or changed providing a tamper-proof ledger of ownership, transactions, and balances. Presenting the market with the only version of digital silver that acts like real physical silver.
The xbullion token is able to be sent around the world, at any time, near instantly on the decentralised and secure ethereum network. The tokens are fractional to 8 decimal places and enabling the opportunity for new use cases for silver trading, including micro-transactions and adding a layer of digital future-proofing to the solution.
SILV tokens can be redeemed for physical silver bullion subject to a current 1kg minimum. xbullion, through their logistics solutions, are able to send the physical silver, via armoured insured couriers to most major cities around the world (additional fees apply for this service). Alternatively, SILV tokens can be easily and rapidly exchanged for fiat currency or other digital assets.
A Global Leader to pilot SILV listing – Bittrex Global Exchange
Bittrex Global is considered one of the best exchanges by process and volume, allowing for quick trading that can be completed easily as well as just as quickly withdrawn from. They operate as a premier global exchange platform, which is designed for customers who demand lightning-fast trade execution, dependable digital wallets, and industry-leading security practices.
The launch on Bittrex Global aligns well with the institutional-grade focus of xbullion, as together they prioritise asset security and peace of mind. The offering of GOLD and SILV on Bittrex Global is the first step in enabling the wider accessibility of direct ownership of commodities enabled through xbullion’s blockchain-based solutions.
“Our SILV token takes away the headaches of investors having to organise storage, auditing, and insurance while still owning the underlying physical asset”, said David Lightfoot, CEO of xbullion.
“The market is becoming increasingly aware of the inherent flaws and risks of paper traded silver. We at xbullion have created a solution for users to directly own the underlying physical metal without having to sacrifice many of the liquidity benefits found in paper markets. This coupled with additional benefits enabled by a secure decentralised blockchain allows fractional, global, and near-instant transactions, a feature new to the historically significant monetary metal.
From the investors’ perspective, the value of our token will always track the current silver rate with the attendant potential for an increase in the value of silver itself.”
To know more about xbullion silver (SILV), visit www.xbullion.io, or follow xbullion on Twitter.
Source :xbullion Holdings
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Disclaimer: The views, suggestions, and opinions expressed here are the sole responsibility of the experts. No Ahmedabad Local journalist was involved in the writing and production of this article.