British Island Wants to Make Physical Bitcoins with UK Royal Mint Deal
A tiny island in the English Channel, Alderney, wants to mint physical bitcoins as part of a larger campaign to become one of the world's first financial services centers devoted to digital currency. The Financial Times reported that Alderney, just three miles long with a population of 1,900, wants to become known as an international center for bitcoin transactions. Intended to be fully compliant with anti money-laundering and other financial regulations, it would offer merchant payment services, exchanges, and a bitcoin storage vault of some kind. The physical bitcoins, like other such....
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The British Island of Alderney made headlines in the bitcoin world last November when it revealed detailed plans to use bitcoin as part of its financial infrastructure, stating that it would seek to mint physical bitcoins and launch financial service centres devoted to digital currency. However, those plans are facing new setbacks according to a 25th April report from The Financial Times, which indicates that the UK's Royal Mint, a state-backed body that mints coins in the country, has discontinued discussions related to the project. Alderney's finance committee chair Robert McDowall told....
The Royal Mint, owned by Her Majesty’s Treasury, will soon begin a “digitized gold offering” made possible by blockchain technology, bitcoin’s underlying innovation. Announced today, The Royal Mint revealed its partnership with CME Group, a derivatives marketplace to develop the digital gold product called Royal Mint Gold (RMG). For a 100-year-old institution, the announcement represents a significant endorsement of the technology. “RMG will change the way traders and investors trade, execute and settle gold,” The Royal Mint stated. Initially, up to $ 1 billion worth of gold in RMG will be....
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One of the UK’s oldest bullion producers and the entity that strikes British coins, the Royal Mint has just announced a gold-backed blockchain effort. In partnership with one of the world’s largest options and futures firm CME Group, the two companies aim to release its blockchain project in 2017. 1,000 Year Old Royal Mint to Create Blockchain-Based Gold....
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