After years of continually high inflation, finance experts around the globe have correctly predicted that gold would continue to assert its crucial role as an inflation hedge – featuring a price increase of more than 50% in the past 18 months.
Despite the cult-like nature of the crypto industry, which fiercely asserts Bitcoin as the new gold, the traditional version of gold is still very present within blockchain circles as well. Projects such as Tether Gold and Pax Gold have long introduced gold-pegged coins to the crypto space. Collectively they now hold more than $1.6 billion in gold reserves.
However, while gold is undoubtedly a proven store of value, it is still subject to considerable volatility. In an effort to create a new generation gold-backed token, Hungarian company Apraemio is now entering the space with a novel approach. Specifically, the company’s gold-backed token, $APRA, is directly tied to the yields of a Mali-based gold mine that is set to supply the token’s reserves for the next 30 years. In this interview, Apraemio’s CEO, Zoltán Varga, a business professional with over 15 years of experience in the gold industry, shares insights into the project’s goals, operations, and plans for the future.
We spoke with Apraemio’s CEO, Dr. Zoltán Varga about the story behind this bold strategy and discussed the broader implications of its innovative strategy to asset-backed tokens.
What inspired Apraemio to develop a new gold-backed token, and how does the brand differentiate itself from other similar projects in the market?
Varga: At Apraemio, we were inspired by gold’s timeless value and stability, especially during economic uncertainty. Our goal was to combine this stability with the global access that crypto brings, offering a unique asset that can hedge against market volatility and inflation.
Unlike many other gold-backed tokens, Apraemio is backed by ever-increasing tangible gold reserves from Mali, Africa, with a commitment that 50% of the mined gold is reserved for token redemption. This means that we are not another gold stablecoin, but a way for anyone to have access to the yields from a real life gold mine.
Our gold mining ecosystem partner is GGS, a company registered in the Republic of Mali with an exclusive 30-year gold mining license. Our focus on transpar
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Author: Adrian Barkley
