30.09.2022Read Time: 2 min

Announcing the Formation of the Aurus Foundation: the Global Tokenization Standard

Announcing the Formation of the Aurus Foundation: the Global Tokenization Standard

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On September 30th, 2022, The commercial team behind Aurus transferred the operations, exclusive development license and 4,500,000 AurusDeFi (AWX) token from Aurus Technologies Ltd. to the Aurus Foundation. 

The Aurus Foundation is an independent non-profit UK organization dedicated to expanding and developing the Aurus Ecosystem, an autonomous network of precious metals businesses that mint and distribute gold, silver, and platinum-backed tokens globally.

The Aurus Foundation will work with stakeholders across the ecosystem to promote the use of tokenized assets and drive adoption by developing standards, best practices, and thought leadership. The Foundation’s ultimate goal is to make the Aurus protocol the global standard for tokenizing assets, including precious metals and other commodities.

Over the past two decades, the financial industry has evolved drastically. However, its underlying infrastructure relies on intermediaries to maintain operations, adding layers of additional complexity that extract significant value from the overall ecosystem. The emergence of blockchain technology has spawned a global network for value transfer. 

“We foresee that tokenization could make the financial industry more accessible, cheaper, faster, and easier, possibly unlocking trillions of euros in currently illiquid assets and vastly increasing the volume of trades, which will meet for a more inclusive and efficient world economy.” – Mark Gesterkamp, Director of the Aurus Foundation

The rewards generated from the 4,500,000 AurusDeFi (AWX) tokens held in the Foundation’s treasury will fund the ongoing expansion of the Aurus ecosystem, and widespread adoption of Aurus tokenized assets. The Foundation will accomplish this by developing new applications and use cases for Aurus tokens and working with existing businesses to integrate the protocol into their operations.

The Aurus Foundation’s initial focus is expanding and developing the ecosystem of the Aurus protocol. The Aurus protocol is designed with the capacity to meet the technological needs of global marketplaces. 

“Decentralization is the first step to achieving a sustainable and globally-viable asset-backed token economy.” – Jonathan Boyd, Director of the Aurus Foundation

The Foundation will shortly announce AurusX the launch of the new ecosystem.

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