ASK Group and Eric Schmidt-Backed Keeta Plan to Tokenize Oil, Gold and Copper by 2027, Achieving 11.2M TPS

According to PRNewswire, UAE-based ASK Group and Keeta, a blockchain company backed by tech billionaire Eric Schmidt, have launched a joint venture to tokenize physical Gulf commodities on a public exchange accessible to global investors by 2027.

The platform will convert oil, gold, silver and copper into fractional digital tokens backed 1-to-1 by audited reserves, with 400-millisecond settlement times and real-time on-chain proof of reserves. Keeta's Layer 1 network has achieved a verified 11.2 million transactions per second and will enable licensed banks and remittance providers to execute cross-border transfers in under half a second via a unified software development kit.