Blockchain technology is slowly infiltrating traditional investment and trading platforms bringing with it benefits such as programmable trust and the removal of unnecessary layers. With the right framework, trade can now occur securely even through a peer to peer interaction, without the need to go through unnecessary intermediaries or re-sellers. Smart contracts and blockchain ledgers are now redefining the future of trade and disrupting best practice. METEX, like many other companies, has foreseen this transition and are bringing to market tokenised metals and making them accessible to anyone online.
METEX is an Australian company who has successfully tokenised precious metals on the Ethereum blockchain. METEX aims to democratize the ownership precious metals starting with some of the more unique metals such as Platinum and Palladium. Each METEX token is a full reserve token meaning it’s 100% backed by metals stored within secure vaults. These holdings are regularly audited ensuring a 1:1 ratio is always maintained.
METEX Global Metals Exchange
In addition to the tokenisation of metals, METEX has developed an online exchange to facilitate the global trade of blockchain based metal tokens. The METEX Exchange is a peer to peer online trading platform allowing users to buy and sell tokenised metals in exchange for crypto currencies such as Bitcoin and USD Tether.
Initially the METEX Exchange will launch with 4 metal backed tokens from both Ainslie and Metex, however the vision is to expand listings from other metals token projects around the world.
The METEX Exchange will become a global marketplace focused on tokenised metals.
User benefits include:
- Trade peer to peer with live order books
- Purchase any sized quantities with most tokens representing 1 gram of the respective metal
- Easily access metals without the headache of physically purchasing and storing them
- Provide users a way to hedge against currency devaluation or crypto volatility
- Low trading fees
The METEX Exchange will be launching soon during 2020. Stay tuned for more announcements and be sure to follow our social media accounts.