Direct Bullion, a London-based precious metals dealer that specializes in the supply of gold and silver bars and coins, has listed the silver-backed token AurusSILVER (AWS) on two of the most popular decentralised finance (DeFi) platforms.
Users can now trade the following pair: AWS/ETH on both Uniswap and Quickswap
AurusSILVER (AWS) is a silver-backed token independently minted and distributed by precious metals dealers using Aurus’ blockchain-based tokenisation solution. Each AWS token is backed by, and redeemable for 1 gram of 99.9% LBMA-accredited silver, held in fully insured and audited vaults.
In early 2019, Direct Bullion entered the digital asset space by partnering with Aurus Technologies and tokenising their first five kilograms of gold (AurusGOLD) on the blockchain. According to Direct Bullion, the listing of AurusSILVER on both Uniswap and Quickswap is the first of several other listings expected to take place in the near future.
“We believe in the future of decentralised finance (DeFi) services and platforms, and see huge potential for precious metals-backed tokens in the space. With the listing of AurusSILVER, Direct Bullion and Aurus are one step closer to bridging the gap between the physical and digital world.” says Paul Withers, CEO of Direct Bullion.
“Precious metals have been the best store of value for centuries, and with blockchain we can bring their stability and benefits to the world of decentralised finance. With Direct Bullion we are not just creating liquidity for an off-chain asset but also opening up silver to people all over the world.” says Guido van Stijn, Managing Director of Aurus Technologies.
Aurus is a UK-based FinTech company that offers a blockchain-based tokenisation solution to the precious metals industry. The company’s platform enables a global network of established refineries, vaults and brokers to work in synergy to mint their own gold, silver, and platinum-backed tokens.