Taiwan Central Bank Pushes for Tokenization of Gold Account Assets with 12 Banks

Taiwan's Central Bank is advancing the tokenization of gold account assets in partnership with 12 banks, targeting a full blockchain transition by year-end. According to Central News Agency on the 18th, the central bank has formed a financial consortium with fintech firms and the 12 banks to move gold account services onto-chain by December.

The move will allow gold account holders to withdraw physical gold at designated Bank of Taiwan branches using an NFT withdrawal certificate. The waiting period for physical gold withdrawals is expected to shorten from about two weeks to three days, as reported by Economic Daily.