Turkish bank launched blockchain platform for digitized gold transfers

Turkish bank Takasbank has launched the BiGA Digital Gold platform, which allows you to make transfers of digital assets secured by physical gold.

Blockchain technology guarantees securityoperations within the system and compliance with established standards, and also confirms the presence of ingots in the vaults of the Istanbul Stock Exchange. The platform allows banks to issue, transfer and make settlements in digitized gold.

The digital assets used by themselves have no value, as they only confirm the transfer equivalent to one gram of gold.

In addition to Takasbank, which is the central clearing and settlement house in the country, other financial organizations, both private and state, participate in the project.

Turkey’s approval of a plan to create a national blockchain infrastructure has stepped up the development of such projects. In addition, the new development plan includes the development of a digital lyre.