WGC proposes physically-backed common infrastructure to scale digital gold

The World Gold Council (WGC) has proposed an initiative to build a physically-backed shared infrastructure to advance the growth of digital gold.

WGC through a white paper has proposed the concept of ‘Gold as a Service’, a platform owned and operated by the World Gold Council and built as shared infrastructure that any market participant can access to build digital gold products without needing to develop their own end-to-end systems.

While digital gold products exist, they operate across fragmented infrastructure with inconsistent custody standards, redemption terms and governance frameworks, WGC Chief Strategy Officer Terry Heymann told PTI.