You can now use Ripple to buy and trade gold
Last Tuesday, Gold Bullion International – GBI as confirmed the opening of a live gateway on the Ripple protocol in order to be able to create a new gold backed crypto currency. The company aims to simplify what has traditionally been a corky, time-consuming and expensive process while trying to combine the best that technology has to offer. Steven Feldman, co-founder and CEO of GBI. Said: “We have been leaders in combining technology and precious metals, and our integration into Ripple allows us to continue our push into digital currencies by enabling investors to now buy digital physical....
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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....
A new service launching in Singapore today uses the Ripple network to acquire, store and convert precious metals into any currency for customers anywhere in the world. Ripple Singapore is a new kind of Ripple 'gateway', which is the name given to the exchange network's entry and exit points. It's Singapore's first major gateway, and the first in the world to offer trade in precious metals. Users maintain a balance in a Ripple wallet (similar to a bitcoin wallet), while the bullion itself is vaulted in Singapore. They can then use that balance to pay anyone instantly in any currency....
Ripple Inc., payment gateway for hundreds of assets and digital currencies has announced the closure of btc2ripple gateway for all US residents starting September 1, 2015. Btc2ripple gateway is one of the hundreds of gateways on the Ripple Trade platform which is used to purchase or trade BTC to XRP (Ripple's IOU). On September 1, Ripple will shut down the btc2ripple gateway for all U. S. residents, which will disallow any Americans from purchasing or depositing BTC using Ripple Trade accounts. Btc2ripple is operated by a Lithuanian company UAB SKV3, located in Vilnius. The decision to....
Ripple Labs, the company that was expected to offer a stiff competition to Bitcoin with its Ripple (XRP) digital currency and Ripple Protocol seems to have fallen behind. Thanks to the recent crackdown by US Financial Crimes Enforcement Network (FinCEN) where Ripple was slapped with a $700,000 fine for non-compliance of regulations while operating as a money services business and selling its virtual currency. FinCEN had found that the parent company of Ripple Labs - XRP II, LLC had willfully violated the Banking Secrecy Act by not implementing effective Anti-Money Laundering (AML) program.....
Gold has been used as a store of value for eons, thanks to its beauty and almost magical ability to never tarnish. Furthermore, despite radical shifts in human values over the past 100 years, its worth still has not diminished - even soaring to over $1,000 an ounce in recent times. Now, though, there is a new, digital challenger on the scene that, when its price chart is compared with that of gold, bears some striking similarities. It's no wonder, then, that companies like Netagio nowallow people to trade bitcoin for precious metals like gold - it is a sign that investors want the ability....