XT.COM Adds Ougon Zakura FT (OZFT) to its Main Zone, Pioneering Gold-Backed Stablecoin Trading
Singapore-based trading platform, XT.COM, has revealed via an official announcement the listing of Ougon Zakura FT (OZFT), a gold-pegged stablecoin, in its Main zone. The OZFT/USDT trading pair was made available for trading on May 16, 2023, opening up new opportunities for users seeking a blend of stability and convenience.
Following the listing of Ougon Zakura FT on XT.COM, the platform seeks to solidify its position as a leader in the trading industry, opening up a new chapter in the realm of gold-backed stablecoin trading and expanding investment horizons for its global user base.
Apparently, the listing on XT.COM marks the initial step in Ougon Zakura FT’s plan to expand the reach and liquidity of the OZFT token. The company aims to promote the token’s use as a means of payment, going beyond asset management and inflation hedging. Ougon Zakura FT plans to issue and sell the token through various channels, with XT.COM acting as a seller in the initial phase. Subsequently, the company intends to expand the network of cryptocurrency exchanges handling the token, boosting its sales network and overall liquidity.
Albin Warin, CEO of XT.COM, expressed enthusiasm for the listing, recognizing the unique investment opportunity OZFT presents to users. The gold-pegged stablecoin combines the stability of physical gold with the accessibility of cryptocurrencies, making it an attractive option for portfolio diversification and inflation hedging. XT.COM aims to support the growth of the OZFT ecosystem and provide users with a seamless trading experience.
OZFT, launched by Ougon Zakura FT, a Japanese financial services company, provides users with a reliable and convenient means of asset management and inflation hedging. Each OZFT token is pegged to the value of 1 gram of gold, offering investment characteristics similar to physical gold. What sets OZFT apart is its inclusion of a small payment function, distinguishing it from similar products in the market.
To ensure the stability and value of OZFT, the token’s issuer will purchase physical Swiss Gold equivalent to the number of tokens sold through XT.COM from Degussa Sonne/Mond Goldhandel Ltd. The physical gold will then be deposited and safely stored by Degussa Sonne/Mond Goldhandel Ltd. Token holders will have the right to demand redemption at a price reflecting the market value of the physical Swiss Gold. However, requesting the return of the deposited physical gold will not be possible. The total issuance of the token is capped at a quantity equivalent to 950 billion yen (100 million OZFT), with the possibility of increasing it in the future while prioritizing user interests and transaction stability.
Sakura Platform Ltd, a Micronesian corporation, drives the innovation behind Ougon Zakura FT and Ougon Zakura NFT offerings. These digital assets revolutionize gold investment, with Ougon Zakura NFTs generated based on secure deposit certificates of Gold Bullion stored in Switzerland. The company’s website and whitepaper provide additional information on these unique offerings.