With the blockchain-based BIGA project established by Takasbank, physical gold turns into digital gold. Gold is bought through banks and transferred free of charge. So who can benefit from the project and what are the advantages?
It enables free and unlimited gold transfer. It gives gold investors the opportunity to store their savings without paying a cashier’s fee, with the guarantee of Borsa Istanbul.
The name of the project implemented by Takasbank, which operates within Borsa Istanbul, is BIGA.
Digital gold transfer is possible with the BIGA project
Takasbank Deputy General Manager Taskin Oker, regarding the BIGA project, said, “BIGA actually has no value of its own, it corresponds to one gram of gold. In fact, physical gold has become digital in banks. Together with BIGA, they will have the opportunity to transfer gold to each other.”
Digital gold is used for value transfer or storage.
“Borsa Istanbul is the guarantor of the free transfer system”
The physical gold equivalent is kept in Borsa Istanbul safes. There is no safe deposit fee. All citizens can benefit from the system.
Taskin Oker also gave the following information about gold transfer:
“In order for people to transfer gold through BIGA, they need to open a gold account through our individual banking banks that are included in this system. Although there is no additional fee for this transfer, it actually differs from other money transfers.
With the increase in blockchain literacy, BIGA is expected to be used more in the coming period.
Source: Trthaber / Translated by Irem Yildiz