GOLDX, the world’s first audited gold-backed token discuss about the fresh concerns about the security of cryptocurrencies

0
1746
GoldEx
GoldEx
0 0
Azadi Ka Amrit Mahoutsav

InterServer Web Hosting and VPS
Read Time:1 Minute, 43 Second

GOLDX, the world’s first audited gold-backed token, is announced in the wake of fresh concerns about the security of cryptocurrencies

SINGAPORE, Jan. 30, 2018 /PRNewswire/ — HelloGold Foundation has announced that it has launched GOLDX, the world’s first audited gold backed token, to provide an anchor of stability to sophisticated crypto investors.

GOLDX is a fully operational ERC20 token backed by 99.99% investment-grade gold independently vaulted in Singapore. The smart contract was audited by ZK Labs and ChainSecurity while the gold is audited by Bureau Veritas and insured by XL Group. Operations backing the gold are based on best practices from SPDR GLD, the world’s largest gold ETF.

Purchased using Bitcoin (BTC) or Ethereum (ETH), the main purpose of GOLDX is to provide cryptocurrency investors with quick and liquid access to physical gold as an investment class. GOLDX can be purchased within minutes and as an ERC20 token is transferable between Ethereum wallets.

GOLDX is designed to play an important role in a cryptocurrency portfolio, whether as an option for asset diversification or as an alternative to converting cryptocurrencies into fiat currency. With daily volumes of USD 250 billion compared to USD 2 billion in cryptocurrencies, gold provides stability to a volatile market.
The USD 500 billion cryptocurrency market has been searching for a viable stablecoin – a cryptocurrency whose price is stable – that is both liquid and shows reserves transparently. GOLDX provides both.

Robin Lee, CEO of HelloGold, commented in a recent interview on CNBC: “GOLDX is an alternative to a USD hedge.” Mr Lee, who was also the Principal Accounting Officer of SPDR GLD, added, “GOLDX is taking gold into the cryptocurrency space by applying best practices from running SPDR GLD to create an arguably more trustworthy technical product. It’s the perfect stablecoin for sophisticated crypto investors who are looking to hedge their funds.”

GOLDX is available for sale over the counter with a minimum purchase amount of 100 GOLDX. Customers can begin the purchase process or find out more information about GOLDX and the HelloGold Foundation at www.hellogold.org.

About Post Author

Editor Desk

Antara Tripathy M.Sc., B.Ed. by qualification and bring 15 years of media reporting experience.. Coverred many illustarted events like, G20, ICC,MCCI,British High Commission, Bangladesh etc. She took over from the founder Editor of IBG NEWS Suman Munshi (15/Mar/2012- 09/Aug/2018 and October 2020 to 13 June 2023).
Happy
Happy
0 %
Sad
Sad
0 %
Excited
Excited
0 %
Sleepy
Sleepy
0 %
Angry
Angry
0 %
Surprise
Surprise
0 %
Advertisements

USD





LEAVE A REPLY

Please enter your comment!
Please enter your name here