RWA Platform Jade City to Launch Late 2024
Jade City, a real-world asset (RWA) platform, is planning to launch its token by the end of the year, with the firm aiming to change the way precious commodities are accessed and traded.
There are two business segments, Jade Vault and Jade City, the firm’s CEO William Ralston Saul told CryptoNews. The jade mining and tokenization businesses have already made significant strides with fund raising intiatives and in the world of digital finance and precious minerals, said Ralston Saul.
So far, Jade Vault, the jadeite storage and trading company has raised $2.1 million to kickstart the production of a jade mine in Kazakhstan. This investment is a critical step towards tapping into one of the world’s most coveted and historically significant gemstones.
Simultaneously, Jade City is planning to secure $1.8 million in a private funding round. So far, Jade City has raised $300,000 bringing the total capital raised for the Jade business to $2.4 million, Ralston Saul told CryptoNews.
Jade City and the Vault side of the businesess were founded by James Bowater and are led by Ralston Saul. The funding round in Jade Vault was led by Consensus Capital the firm which backed Casper Labs, said Bowater.
“The actual mine itself is fascinating because it is the single largest deposit of jadeite left on the planet,” said Bowater. The jade is also ethically mined.
The significance of jade, particularly in China, cannot be overstated. For over 5,000 years, jade has been revered not just as a precious stone but as a symbol of purity, moral integrity, and social status.
In Chinese culture, jade is considered more valuable than gold due to its rarity and the intricate craftsmanship required to transform raw jade into exquisite artifacts.
The gem’s
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