Precious Metals Firm Kitco Launches Gold-Backed Tokens Built on Ethereum
On August 4, the precious metals firm Kitco Gold announced the launch of a gold-backed stablecoin which will leverage an audit process via Cohen & Company with monthly attestation reports. Kitco has partnered with Tradewind Markets, First Digital Trust, and Stably, an asset tokenization provider. The gold-backed ERC20 tokens called “kitco gold (KGLD)” “represent one true, troy ounce of fine gold,” according to Kitco. Kitco Launches KGLD Token Backed by a Troy Ounce of .999 Gold In the seventies, Bart Kitner started trading gold with funds he got from a loan and....
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Keith Kaiser was new to Bitcoin. Though he had invested in gold and other precious metals previously, this new digital gold was something that wasn't immediately easy to wrap his mind around. He didn't know how mining worked and, like many of us, he had no great understanding of cryptography. What he did have, though, was liquid capital to invest. So when he had the opportunity, he bought bitcoins using Circle. At this time, the price hovered around $200. To invest means to profit, and when he saw a firm advertising on the popular precious metals price site, Kitco.com, that they were....
Today DigitalTangible, a leading Bitcoin-Gold platform and precious metals custodian, announced their partnership with Amagi Metals, a gold bullion dealer. Together the two have created a trading platform for physical gold, cash and Bitcoin. The CEO of Amagi Metals, Stephan Macaskill, made the announcement with DigitalTangible saying, "We are thrilled to be working with DigitalTangible. Our competitive premiums matched with their efficient service leveraging the Bitcoin Blockchain helps gold buyers worldwide meet financial goals. No one wants to work with a third party anymore. Bitcoin is....
Aurus is embracing the concept of DeFi to disrupt the precious metals industry. The firm has built a truly decentralised platform which allows companies like refineries, distributors and vaults to autonomously tokenise precious metals. The ingenious part of the Aurus system is their revenue-sharing token, AurusDeFi (AWX), which enables holders to earn a share of the platform’s revenues. Aurus to Disrupt the Precious Metals Industry Trading app Robinhood positions itself as democratising finance for all. However, the centralised nature of the platform- where one party holds the....
The precious metals refined on the site will be tokenized and traded on the DMCC Gold Exchange platform. Dubai Multi Commodities Centre — a free trade zone established by the Dubai Government — has signed a sale and purchase agreement with REIT Development to construct a 100,000 square foot precious metals refinery.According to a DMCC release on Wednesday, the precious metal refinery and storage facility will be the largest in the Gulf Cooperation Council and will reportedly be powered by blockchain technology.Located in the high brow Jumeirah Lake Towers area, the facility will refine and....
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....