Singapore Firm Introduces First Crypto Exchange to Accept Physical Gold Pairing

Singapore Firm Introduces First Crypto Exchange to Accept Physical Gold Pairing
фото показано с : blokt.com

2018-8-29 14:59

Singapore-based OEX International is getting closer to bringing gold and Bitcoin together. The firm has partnered with PureGold.sg Group to create the first physical gold pairing that will be accepted on the crypto exchange.

World’s First Gold Crypto Exchange

The two companies will be working together to create the first cryptocurrency exchange to accept physical gold (PGG). It will be the first exchange in the world to allow such trading. Puregold.sg said of the collaboration:

“We strongly believe by our strategic business collaboration, we will discover greater business opportunities and possibilities to bring massive value to both companies in the blockchain world.”

The company launched the first gold-backed token in the world, which will be used on the next generation of e-commerce platforms. Trade will be facilitated via the PG-Pay platform, where daily transactions can be made in PGG.

A Stable Coin That Relies on Gold?

The PGG token will be a stable base pair on crypto exchanges and on the Bullion Currencies platform. It is essentially a digitized gold that will be issued as a reward to PGT holders (PGT are utility tokens used to eliminate transaction fees on the Gold commerce platform (Bullion Currencies)).

The PGG token will be issued by the Puregold.sg Group, which will use the current price of gold to make the swap with prices being derived from the LBMA exchange. Each gram of gold is registered to individual holders, and it is stored in a secure third-party vault. The PGG token is thus transparent and secure for the users, claims the company.

In case of transactions and purchases made through Bullion Currencies machines and Gold ATMs, “part of the profit revenue will be credited to Bullion Currencies PG-Pay app platform in the form of PGG.” Users can acquire PGG through the Bullion Currencies platform after signing up for a Bullion Currencies Gold Saving Account.

Puregold.sg claims that the coin removes volatility issues that plague altcoins. When used in the crypto exchange, the coin will remain stable in price and can be used to buy other currencies as well. There are no daily limits to the coin’s transactions.

In the addition, the company notes:

“Gold is money, and by digitizing it, it makes transaction fast, secure, transparent and without liquidity issues.”

Singapore Firm Introduces First Crypto Exchange to Accept Physical Gold Pairing was originally found on [blokt] - Blockchain, Bitcoin & Cryptocurrency News.

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gold exchange crypto physical pairing accept firm

Источник: blokt.com

gold exchange → Результатов: 39


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