TOKYO, JAPAN / ACCESSWIRE / April 16, 2024 / Kinka Gold is announcing its imminent launch on one of the leading crypto exchange markets, MEXC. The representative gold-backed token $XNK will soon be available for all MEXC users to trade and for them to get their hands on premium, tokenized on-chain Japanese Gold.

The XNK/USDT pair will list on the 16th of April, 2024 for 11:00 UTC. All MEXC users will be free to trade Kinka then. A Kickstarter campaign is now live, where early depositors have the potential to earn airdrops by expressing their interest in $XNK ahead of time.

Kinka Gold's $XNK represents a huge evolution for gold, allowing it to be deployed on-chain as a composable and fungible ERC-20 token that gives gold new life. Unlike the real thing, $XNK is divisible to fractions of a gram and can be securely stored in a compatible wallet and used to both store value and make payments with gold.

All of the gold bullion that backs $XNK is the world's highest quality gold bullion with a purity of 99.99% or higher and meets the LBMA Good Delivery standards. Many of these gold bullions are designated as physically settled stocks in the gold futures market of the Osaka Exchange, which is managed by the Financial Services Agency of Japan.

By providing a gold-backed token to the Japanese market, where stablecoins backed by traditional fiat currencies are not available, it will give those users a way to trade into and out of the relatively stable asset freely - something which to now they have not been able to do.

Moreover, by creating a trusted gold asset on-chain, Kinka Gold hopes to unleash the potential of gold within the new digital asset economies that look poised to redefine our financial system. Gold's central place in mainstream finance is eternal and, with Kinka Gold, it looks set to be ready for the next generation.

Kinka Gold is issued by a subsidiary of Daiichi Commodities (Code: 8746), a company listed on the Tokyo Stock Exchange, with over 40 years of experience in gold trading. The $XNK is subject to strict third-party audits in accordance with Japanese law.

$XNK is 100% backed by 1 troy ounce of gold bullion, and gold bullion owned by $XNK holders is legally protected from bankruptcy of the issuer. In addition, the gold bullion is safely stored in a warehouse with high security equipment.

As Daiichi Commodities adds more gold to its vault, more $XNK tokens will be minted for use across DeFi, Web3, and the crypto space.

MEXC's listing of Kinka shows how important on-chain gold is, and that Kinka's specific high quality Japanese-focused gold with global accessibility, is the most powerful, practical solution yet.

Media Contact:

Name: Chris Lane
Email: support@kinka-gold.com

SOURCE: Kinka Gold