Precious Metals Firm Kitco Launches Gold-Backed Tokens Built on Ethereum – Bitcoin News
Read More
GoldBacked
Why Invest in Gold-backed Cryptocurrency
GoldCoin is the first fractionalized gold-backed asset that is available for purchase directly with a national currency. The concept of ‘digital gold’ is not new. In the 1990s, E-Gold emerged as the world’s first virtual currency backed by physical gold. Millions took advantage of the service at its peak before E-Gold
Read More
Tether’s Gold-Backed Stablecoin in Demand as Commodity Hits ATH
The Tether Gold stablecoin was valued at $1,902 on July 24, putting the price of gold within reach of the commodity’s all-time high set in September 2011.Gold has risen 22.7% from $1,550 to $1,902 since Tether Gold (XAUT) — a stablecoin allowing ownership of one troy ounce of gold held
Read More
COVID-19, Gold Demand and the Gold-Backed Stablecoin Opportunity
When markets are bleeding, investors turn to gold. The celebrated precious metal and former reserve standard of the world’s monetary system is valuable for several reasons, but primarily because it is scarce. So scarce, that supply-chain problems with physical gold delivery are manifesting as demand surges amid the COVID-19 financial chaos.Why
Read More
BaFin Orders Gold-Backed Token Issuer and Alleged Ponzi Scheme to Cease-and-Desist
The German Federal Financial Supervisory Authority (BaFin) has issued a cease and desist order to Karatbit Foundation to immediately stop unauthorized business in Germany. BaFin alleges that Karatbit Foundation is issuing the KaratGoldCoin (KBC) without the necessary license, according to a Nov. 11 announcement.Karatbit describes itself as a provider of
Read More
Perth Mint, InfiGold Launch Gold-Backed Token on Public Blockchain
Australia’s largest precious metal refinery, the Perth Mint, and InfiGold, a fintech startup focused on precious metals digitization, have jointly launched a gold-backed digital token.The new ERC-20 token is dubbed Perth Mint Gold Token (PMGT) and pegged 1:1 with GoldPass certificates issued by the Perth Mint, according to a
Read More
‘Gold-Backed’ Crypto Token’s Promoter Investigated by Florida Regulators
The Takeaway Florida regulators are investigating Karatbars, a German company that’s been promoting a token tied to a Miami “crypto bank” without any banking license in the state. Karatbars previously issued a cryptocurrency purportedly backed by gold, but CoinDesk has
Read More
New York Regulator Greenlights Paxos to Launch Gold-Backed Cryptocurrency
Linda A. Lacewell, Superintendent of Financial Services, confirmed that New York State Department of Financial Services (NYDFS) has allowed Paxos Trust Company LLC to offer a gold-backed virtual currency.This will be the first such virtual currency due to be authorized by NYDFS that will be backed by the gold and
Read More