SALCO Acquires USD $9 Million of Limitless’ $GEMS – Leveraging Everest’s Ecosystem of Custody, Tokenization & Infrastructure

Mexico City, Mexico, Oct. 08, 2024 (GLOBE NEWSWIRE) —

Limitless marked a significant milestone in their tokenization journey with a USD $9 million sale of their ecosystem RWA token to SALCO (South American Lithium Company), a key institutional partner in the Latin-American mining industry. The purchase highlights Everest’s ability to tokenize real world assets, and facilitate liquidity.

SALCO opted to financially structure part of its operation in $GEMS tokens instead of actual emeralds unlocking the benefits of tokenized “real” Real World Assets – including portability, fungibility, and collateralization. “We are thrilled to work with Everest, and trust its world-class platform and management with full confidence. The $9M GEMS deal opens our ability to transact with previously illiquid assets, bringing SALCO into the new tokenized future,” said Juan Lasheras-Bunge of SALCO.

Limitless, in collaboration with Everest, announced the launch of USD $20 million $GEMS tokens, backed by over USD $600 million in liquid assets. This launch introduced the first Real World Asset token of its kind in the RWA tokenization space.

$GEMS are available through the EverLaunch platform, https://everlaunch.org/gems at a fixed price of USD $1 per token, allowing individuals to purchase with fiat or swap with crypto; the remaining $GEMS will be for sale until December 15, 2024. $GEMS are also tradable on QuickSwap at https://quickswap.exchange/#/swap?currency0=0x3c499c542cEF5E3811e1192ce70d8cC03d5c3359&currency1=0x25eFae7B0b2866CaFB14E8eaD333a42eeb2A0b80&swapIndex=0

Key benefits of $GEMS include: