Which country issued the Alkimi (ADS) coin?

Alkimi (ADS) token issuance involves gold acquisition, tokenization on Ethereum, and verification by auditors in Switzerland, the United States, and the United Arab Emirates.

Dec 25, 2024 at 12:15 pm

Key Points:

• Definition and Background of Alkimi (ADS)
• List of Countries Issuing Alkimi (ADS)
• Process for Determining Coin Issuance
• Legal and Regulatory Considerations for ADS Issuance

Definition and Background of Alkimi (ADS)

Alkimi (ADS) is a digital asset backed by real-world assets, specifically gold. Each ADS token represents ownership of a fraction of physical gold held in secure vaults. The token is designed to provide investors with a convenient and secure way to access and store their gold holdings.

List of Countries Issuing Alkimi (ADS)

Currently, Alkimi (ADS) is issued by entities in the following countries:

• Switzerland: Alkimi Gold AG, the primary issuer of ADS, is headquartered in Switzerland. It holds physical gold reserves in Swiss vaults, providing a high level of security and stability for ADS holders.
• United States: Alkimi Technology Inc., a subsidiary of Alkimi Gold AG, operates in the United States. It provides a platform for ADS trading and facilitates the acquisition of physical gold for redemption purposes.
• United Arab Emirates: Alkimi DMCC, another subsidiary of Alkimi Gold AG, is based in the United Arab Emirates. It caters to the Middle Eastern market, offering ADS trading and gold investment services.

Process for Determining Coin Issuance

The issuance of ADS tokens is based on the following process:

• Gold Acquisition: Alkimi partners with reputable gold suppliers to purchase physical gold bullion. The gold is then stored in insured and audited vaults in Switzerland.
• Tokenization: Each unit of gold acquired is represented by a corresponding number of ADS tokens. The tokens are created and issued on the Ethereum blockchain.
• Verification and Audit: Independent auditors regularly verify the amount of physical gold backing the ADS tokens. The audit reports are published on Alkimi's website for transparency.

Legal and Regulatory Considerations for ADS Issuance

The issuance of ADS tokens is subject to legal and regulatory frameworks in the countries where Alkimi operates. These regulations aim to protect investors and ensure responsible asset management.

• Switzerland: Alkimi Gold AG is regulated by the Swiss Financial Market Supervisory Authority (FINMA) and complies with all applicable anti-money laundering (AML) and know-your-customer (KYC) regulations.
• United States: Alkimi Technology Inc. is registered with the Financial Crimes Enforcement Network (FinCEN) and follows the guidelines for cryptocurrency exchanges and wallet providers.
• United Arab Emirates: Alkimi DMCC is licensed by the Dubai Multi Commodities Centre (DMCC) and abides by the regulations governing gold trading and cryptocurrency activities in the UAE.

FAQs

Q: What is the advantage of holding ADS tokens over physical gold?
A: ADS tokens offer several advantages over physical gold, including convenience, accessibility, and security. ADS tokens are stored digitally, eliminating the need for physical storage and transportation. They can be traded and transferred effortlessly without the risks associated with transporting physical gold.

Q: How can I redeem ADS tokens for physical gold?
A: ADS holders can redeem their tokens for physical gold by following the procedures set forth by Alkimi. The gold can be delivered to a designated address or stored in a secure vault under the custody of Alkimi or another trusted custodian.

Q: Are ADS tokens a secure investment?
A: ADS tokens are backed by real-world assets and issued by regulated entities. The physical gold reserves are audited regularly to ensure their accuracy and integrity. However, all investments, including cryptocurrencies and digital assets like ADS tokens, come with inherent risks. It is important to conduct thorough research and consult with financial advisors before making any investment decisions.