RWA Platform Jade City Ships First Batch of Jade to China
Tanzeel Akhtar has been covering the cryptocurrency and blockchain sector since 2015. She has written for the Wall Street Journal, Bloomberg, CoinDesk and Bitcoin Magazine.
Jade City, a real-world asset (RWA) platform, has made its first shipment of jade from its mine partner to a storage facility in Guangdong province, China.
Guangdong is known for its jade manufacturing and houses some of the country’s largest jade trading centres. This shipment is an important step for Jade City as it prepares to generate profits from Jade sales and launch its innovative RWA tokenization platform.
In July, Jade Vault the jadeite storage and trading company raised $2.1 million to kickstart the production of a jade mine in Kazakhstan. The Jade City platform will allow investors to access the $50 billion jade market, traditionally exclusive and dominated by a few players. This will mark the beginning of the RWA tokenization launch slated for later in 2024.
The significance of jade, particularly in China, cannot be overstated. For over 5,000 years, jade has been revered not just as a precious stone but as a symbol of purity, moral integrity, and social status.
In Chinese culture, jade is considered more valuable than gold due to its rarity and the intricate craftsmanship required to transform raw jade into exquisite artifacts.
Through its platform, Jade City said it will issue Jade-backed bonds, offering investors high yields in tokenized physical jade. The tokens can be traded in the marketplace or used in a gamified experience where investors can win valuable jade stones from virtual loot boxes.
Jade City said it has also partnered with the owners of a jade mine, securing a substantial inventory. Over the past two years, the company has funded
Read more on cryptonews.com
