You Can Now Use Ripple to Buy, Spend and Trade Gold

You Can Now Use Ripple to Buy, Spend and Trade Gold

Gold Bullion International, a precious metals provider, announced in a statement Tuesday that it was opening as a live gateway on the Ripple protocol, creating a new gold-backed cryptocoin. That currency, XAU, is effectively a token representing physical gold with all of the ease of transaction inherent in cryptocoins. Or, as the Ripple blog puts it, “You are buying gold balances issued by GBI that are backed by and redeemable for physical gold bullion.” This has two key effects, the statement says: Gold becomes easier to trade. Gold can be spent anywhere Bitcoin is accepted via the Ripple....


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You can now use Ripple to buy and trade gold

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