ITCEN Global said on Wednesday it has unveiled a gold-backed account service tentatively named Gold Standard Wallet as it fully launches a real-world asset (RWA) project that digitises 10 trillion won worth of physical gold for use in everyday finance.

Gold Standard Wallet is a financial application that uses KGLD, a token whose value is linked 1:1 with physical gold. It is a typical RWA model that applies blockchain technology to gold, a traditional asset, to maximise liquidity.

Users can use it not only to store physical gold digitally but also to earn 1 to 3 percent annual interest by depositing gold tokens and to take out stablecoin loans backed by gold collateral. As liquidity secured by pledging gold tokens can also be used for everyday payments, the company said, users can preserve asset value while also securing cash flow.

ITCEN Global also stressed that Gold Standard Wallet expands ITCEN Group's Web3 business models into the global standard of RWAs, including a peer-to-peer physical gold trading service called Geumbang Geumbang, a digital gold purchase service called Sen Gold and an income-generating asset called Hana Gold Trust.