Tag - Digital Gold
Friday, April 16 2021
By GCRU Gold News on Friday, April 16 2021, 08:42
Let us imagine that Jeff Bezos bought up 20 gold mines with total contained gold of 50 billion ounces. Next, let us imagine that he created and issued a digital currency backed by this gold. If Jeff pledged that any holder of the digital currency could turn up at the mine and exchange the digital currency for an ounce of gold and that his digital currency would never exceed the ounces backed by the gold … would you use that digital currency? As cryptocurrencies evolve, having a ‘hard asset’ to back them could become paramount!
Thursday, May 28 2020
By GCRU Gold News on Thursday, May 28 2020, 23:01
Tether Gold holders will receive an annualized interest of 4 percent for keeping the digital currency on Celsius’ interest-bearing accounts.
Wednesday, April 29 2020
By GCRU Gold News on Wednesday, April 29 2020, 00:49
Alongside growing demand for gold, interest in gold-backed digital tokens, which can be transacted and stored on cryptocurrency exchanges and wallets, has also grown of late. Since September 2019 a number of new gold-backed tokens have been issued from established crypto companies, such as Tether, Paxos and Blockchain.com, and the total value of gold-backed tokens has grown by over 16x in the past year to more than $160m in value.
Friday, January 3 2020
By GCRU Gold News on Friday, January 3 2020, 12:41
Tokenised gold may be one of the most important developments in the gold industry. Short of physical use cases, it improves on the functionality of gold in every way – in that it’s trivial to store, it’s readily-accessible to anyone with an internet connection, and it can be traded cheaply and instantly all across the world.
Tuesday, December 31 2019
By GCRU Gold News on Tuesday, December 31 2019, 23:20
Turkey's Istanbul Clearing, Settlement and Custody Bank (Takasbank) announced that its blockchain-based, physical gold-backed transfer system is now live.
Turkish Takasbank launched BiGA Digital Gold to provide banks with a blockchain-based system for the issuance, repayment and transfer of digitized gold,
Tuesday, December 24 2019
By GCRU Gold News on Tuesday, December 24 2019, 03:25
Will these new blockchain-based gold payments systems make gold payments popular again?
Gold stablecoins certainly make it easier for people to make digital gold transfers. Users needn’t go through a cumbersome know-your-customer process.
Friday, November 22 2019
By GCRU Gold News on Friday, November 22 2019, 23:23
As the rise of digital assets allows swifter movement of capital, investors now have an alternative asset to buying physical gold: digital gold.
Monday, November 18 2019
By GCRU Gold News on Monday, November 18 2019, 23:05
The cryptocurrency world is seeing a surge in the issuance of gold-backed tokens, with some of the digital-asset industry’s biggest and most controversial participants joining in on the fresh gold rush.
The throng behind the Tether stablecoin and the Bitfinex trading platform plan to issue Tether Gold before Christmas. The token will be backed 100% by bullion reserves, according to Paolo Ardoino, who serves as chief technology officer for Bitfinex and Tether.
Sunday, November 17 2019
By GCRU Gold News on Sunday, November 17 2019, 23:55
James Turk is widely respected as one of the true legends of the gold market, with over 40 years in the business. In conversation with Grant Williams, James looks back on his career, which is entwined with the modern history of gold, examining the potential for the next break to the upside and what comes next when empires of money end
Thursday, October 24 2019
By GCRU Gold News on Thursday, October 24 2019, 08:48
Britain’s Royal Mint has produced a solid gold payment card — and you’ll need to fork out £18,750 ($23,460) to buy one.
Tuesday, October 15 2019
By GCRU Gold News on Tuesday, October 15 2019, 09:51
Imagine a gold product - with characteristics of physical gold and gold exchange-traded funds (ETFs), as well as the 24/7 nature and security of the bitcoin network. That was the aim of three firms behind the DGLD token
Monday, October 14 2019
By GCRU Gold News on Monday, October 14 2019, 22:12
The marriage of blockchain technology’s open truthfulness with gold’s alluring scarcity makes for a highly transparent, secure and liquid financial instrument with which to hedge against currency depreciation, allowing average consumers and retail investors to hold onto the value of their savings.
Friday, October 11 2019
By GCRU Gold News on Friday, October 11 2019, 23:52
With PAX Gold, a digital token on the Ethereum blockchain, representing a physical amount of gold held in the vaults of London-based Brink, Nexo now offers gold investors instant access to their gold wealth in over 45 fiat currencies via same/next day transfers and across 200+ jurisdictions.
True to its innovative DNA, Nexo will be adding PAX Gold for its ‘Earn Interest’ product that will pay up to 8% per year of interest on gold, debunking the century-old stigma that “gold does not pay dividends”. This value proposition makes Nexo the only financial institution in the world to pay interest on gold in kind.
By GCRU Gold News on Friday, October 11 2019, 04:38
PMGT allows blockchain users to conveniently trade and hold gold stored at The Perth Mint.
Digitally manage your entitlements over the physical gold, convert and pick up gold bullion of your choice or get it delivered globally.
Thursday, September 26 2019
By GCRU Gold News on Thursday, September 26 2019, 21:55
A U.K. startup that promised to allow people to pay for goods in gold has collapsed, dealing a blow to its backers including Conservative MP Steve Baker, who had promoted the company on Twitter.
Friday, September 6 2019
By GCRU Gold News on Friday, September 6 2019, 01:24
Paxos Gold starts it's life with 24 tonnes of gold.
First major player in gold on the blockchain.
Friday, August 16 2019
By GCRU Gold News on Friday, August 16 2019, 06:07
Dignity Gold, LLC, a wholly-owned subsidiary of Dignity Holdings, LLC and a leader in cryptocurrency, today announced that through SION Trading FZE, it has hired Bureau Veritas, a world leader in testing, inspection, and certification (TIC) services, to count the gold backing its tokens. SION Trading FZE is supplying the safe keeping receipt (SKR) for the gold that is backing Dignity Gold and has entered into an official agreement with Bureau Veritas to verify and count the gold. Under the supervision of Joseph Chapman, North American Audits Manager, Metals and Minerals Division at Bureau Veritas, company executives in Dubai will be counting the initial $3 billion out of Dignity Gold's 395,000 kilograms of gold provided under the SKR agreement. The first verification will be completed in September 2019.
Tuesday, July 30 2019
By GCRU Gold News on Tuesday, July 30 2019, 00:32
A new debit card allows users to spend their gold like dollars.
U.K. fintech company Glint launched its debit card in the U.S. on Monday. It can be used anywhere a Mastercard is accepted. Glint’s card and app make gold “an alternative global currency,” according to the company.
Saturday, January 12 2019
By GCRU Gold News on Saturday, January 12 2019, 02:54
Arbitrade Ltd. (“Arbitrade”) is pleased to announce December’s shipment of gold from SION Trading FZE (“SION”) has been vaulted and secured in Dubai UAE. SION, procurement agent for Arbitrade, continues to increase its gold holdings through SION’s global mine network, via procurement contracts as mentioned in previous press releases. In addition, SION has provided $250 million in credit to facilitate these purchases on Arbitrade’s behalf.
Monday, January 7 2019
By GCRU Gold News on Monday, January 7 2019, 22:07
The company that is acting as the precious metals procurement agent for Arbitrade is set to become a major shareholder of the cryptocurrency exchange and coin company.
Arbitrade said in November that it had “title’”to 395,000 kilograms of gold bullion, which would be worth $16.2 billion at current prices, to back its coins and tokens. One of the tokens is called “dignity” and is in circulation.