In a groundbreaking move for tokenized assets in the mining sector, SALCO (South American Lithium Company) has acquired USD $9 million worth of Limitless’ ecosystem token, $GEMS. Facilitated by Everest, this acquisition underscores SALCO’s strategic shift towards tokenized assets in the resource sector, leveraging the flexibility, portability, and liquidity of Real World Asset (RWA) tokens. Instead of holding physical emeralds, SALCO chose $GEMS tokens to streamline operations and unlock new financing opportunities.
According to Juan Lasheras-Bunge of SALCO, the partnership marks a shift in how real-world assets can be used to open up previously illiquid markets. “We are thrilled to work with Everest and trust its world-class platform. The $9M GEMS deal brings SALCO into the tokenized future,” Lasheras-Bunge stated, highlighting Everest’s integral role in securing and managing these tokenized assets.
$GEMS and Everest: A New Era for Mining Asset Tokenization
This deal builds on Limitless and Everest’s recently launched $20 million $GEMS token offering, backed by over $600 million in liquid assets. Available on EverLaunch and QuickSwap, $GEMS offers a fixed price of $1 per token, ensuring transparency for investors. With SALCO’s investment, $GEMS tokens demonstrate real utility, providing multi-million-dollar backing and benefits like 20% APY staking, 4X refund policies, and rewards for referrals. The tokens remain available until December 15, 2024.
What SALCO’s Acquisition Means for Tokenization in Mining
This milestone demonstrates how asset-backed tokens can attract institutional investments by creating liquidity and reducing barriers in traditionally rigid asset classes. Matteo Rosetti, General Manager of Limitless, emphasized this impact, saying, “SALCO’s $9 million investment in $GEMS is a strong validation of our vision to unlock institutional value.” SALCO’s move is a sign of growing confidence among industry players in tokenized ecosystems and a positive outlook for asset tokenization in mining.
Access $GEMS and More:
- EverLaunch
- QuickSwap
Disclaimer: This information is for informational purposes only and not intended as investment advice. Please consult with a financial advisor before investing in cryptocurrency.
