GoldMint.io, a pioneering firm which hedges a secure cryptocurrency with actual gold, has opened up gross sales of GOLD cash.
GoldMint is a blockchain-based platform powered by the digital asset GOLD, which is 100% backed by bodily gold or supply futures. Subsequently, one digital GOLD asset prices the identical as one ounce of gold on the Chicago Mercantile Change (CME).
GoldMint’s bodily gold is saved within the US Federal Reserve System’s banks, in addition to in Singapore’s SGPMX custodians. For the sake of assurance, GoldMint totally intends on all the time ensuring that its gold reserves are consistently even to or exceed the variety of GOLD property at present in circulation at any given time.
The venture runs on the GoldMint blockchain, is 100% backed by bodily gold or supply futures, can be utilized as a belief administration funding instrument for peer-to-peer loans and operations with gold, and is a clear, quick and safe fee instrument.
GoldMint PTE LTD itself is a Singapore blockchain firm specializing in gold tokenization. The corporate efficiently accomplished its preliminary coin providing (ICO) in 2017 and raised $7 million.
The corporate operates with two property: gold-secured GOLD and MNTP tokens, which is used within the GoldMint locker to substantiate transactions. Moreover, MNTP token holders get entry to preferential commissions for operations with GOLD property. The corporate’s tokens are at present traded on Bancor, Yobit, SIMEX, IDEX, Etherdelta.
The Sale is Open
As of April 12, GoldMint customers might purchase and promote GOLD cash on Bancor utilizing a number of of the 50 supported cryptocurrencies. GOLD can be accessible on Simex (Singapore Worldwide Financial Change and IDEX (Decentralized Ethereum Asset Change).
For the primary time in historical past, customers can benefit from the chance to purchase a secure coin, utterly backed by the value of gold, in alternate for cryptocurrency. With the assistance of the GOLD stablecoin, crypto buyers can hedge in opposition to the chance of cryptocurrencies falling in an especially risky market — which occurs all too often.
GOLD may also convey a brand new class of buyers into the cryptocurrency market, as treasured metals buyers beforehand tired of cryptocurrency now have a motive to become involved.
A Distinction that Issues
Not all cryptocurrencies and digital property are created equal.
The important thing distinction between GOLD and different digital property is that every one GOLD cash are literally backed by a bodily product — on this case, essentially the most profitable retailer of worth in historical past, gold.