Berlin RWA platform Swarm Markets plans to launch NFTs representing ownership of physical gold for individuals. The gold bars that support the tokenized assets will be stored in the vaults of Brink in London.
Users will be able to redeem NFTs in a peer-to-peer manner through Swarm's decentralized over-the-counter (dOTC) platform after passing the KYC and anti-money laundering AML processes.
Swarm claims that its tokenized gold will not face the upcoming Market for Crypto Assets Regulation (MiCA) regulation because, according to the official text of MiCA, "the regulation should not apply to crypto assets that are unique and not fungible with other crypto assets, including digital art and collectibles." (The Block)