Place/Date: Singapore - May 19th, 2023 at 8:39 am UTC · 5 min read
XT.COM, the world’s first socially infused trading platform, is thrilled to announce the listing of OZFT on its platform in the Main zone and the OZFT/USDT trading pair will be open for trading from 2023-05-16 06:00 (UTC).
Ougon Zakura FT, a Japanese financial services company, has announced the launch of its new gold-pegged stablecoin, OZFT. Each OZFT token is pegged to the value of 1 gram of gold, providing a reliable and convenient means of asset management and inflation hedging. The token is designed to have the same asset and investment characteristics as physical gold and features a small payment function that is not found in other similar products.
Ougon Zakura FT aims to promote the use of OZFT as a means of payment in addition to its use for asset management and inflation hedging. OZFT will be issued and sold through a variety of channels. Initially, Ougon Zakura FT will issue new tokens, and XT.COM will act as a seller and establish a service to sell the Token to users. In phase 2, the company plans to expand the number of cryptocurrency exchanges that handle the Token, thus expanding the sales network of the Token and increasing its liquidity.
The company also plans to provide a service that allows the OZFT Token to be used as a means of remittance or payment and expand what can be exchanged with the Token beyond physical gold, other crypto assets. When purchasing OZFT through XT.COM, the issuer will purchase physical Swiss Gold equivalent to the quantity of the tokens from Degussa Sonne/Mond Goldhandel Ltd via Japan’s only authorized distributor, K.K. ARCA. The physical gold purchased will then be deposited with and safely stored by Degussa Sonne/Mond Goldhandel Ltd. Those who purchase the Token through XT.COM or other cryptocurrency exchange service providers will have a right to demand the issuer to redeem the token at a price that approximates the market price of the physical Swiss Gold. However, the holder of the Token cannot request the issuer to return the deposited physical Swiss Gold. The upper limit set for the issuance of the Token is a quantity equivalent to 950 billion yen (100 million OZFT).
The maximum number of issued tokens may be increased in the future on the condition that it does not harm the interests of users and the overall stability of transactions. The trading price of the Token presented by the issuer will be calculated based on the negotiated trading market for delivery in London. In the event where a vulnerability is discovered in systems related to the Token, such as the blockchain and smart contract used for the Token, the wallet that stores the Token, and any other systems that affect the quality of the Token, the movement of the Token may be restricted in accordance with the rules of the Blockchain Platform Steering Committee, which consists of the issuer and the crypto asset exchange service provider that handles the Token.
Albin Warin, the CEO of XT.COM, expressed his excitement about the listing of the OZFT token on their platform. In a statement, he said:
“We are thrilled to list the OZFT token on our exchange. The gold-pegged stablecoin offers a unique investment opportunity for our users, combining the stability of physical gold with the convenience and accessibility of cryptocurrencies. We believe that OZFT has the potential to become a popular asset for those looking to diversify their portfolios and hedge against inflation. We look forward to supporting the growth of the OZFT ecosystem and providing our users with the best trading experience possible.”
Sakura Platform Ltd, a Micronesian corporation, is the driving force behind the innovative Ougon Zakura FT and Ougon Zakura NFT offerings. These unique digital assets are transforming the way people invest in and trade gold.
The Ougon Zakura NFTs are generated based on deposit certificates of Gold Bullion securely stored in Switzerland. By combining the time-tested appeal of gold with the convenience of digital assets, these NFTs offer a new approach to wealth management. Buyers can easily trade Ougon Zakura NFTs through direct sales or auction platforms, harnessing the power of ERC721 blockchain technology for secure transactions.
Ougon Zakura FT aims to promote its use as a means of payment, and its gold peg ensures the same asset and investment characteristics as physical gold. The Token is available for purchase through XT.COM and other cryptocurrency exchange service providers.
Sakura Platform links: Twitter, Whitepaper.
Founded in 2018, XT.COM serves more than 6 million registered users, over 500,000+ monthly active users, 40+ million users in the ecosystem, and 1000+ trading pairs. Since then, XT.COM crypto exchange has expanded its offerings by covering a rich variety of trading categories to provide a secure, trusted, and intuitive trading experience for its large user base. One such addition is crypto futures trading which includes USDT-M Futures and coin-M futures perpetual contracts, as well as prediction markets where users can conduct transactions by predicting the results of future events. Additionally, the Futures Grid allows users to automate the buying and selling of futures contracts to make profits.
XT.COM socials: Twitter, Telegram.
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