GMEX Group & USAVE Blockchain Company Create MGX Gold Exchange
MXG, name of the new exchange is the first to be built using gold sourced in human ways. The new platform will operate with the use of USAVE tokens, to make trading the precious metal easier than before.
— GMEX Technologies (@GMEXTech) July 25, 2018
Exchange technology is growing in popularity, any team who decides to focus on improving its functionality is going to gain recognition for any positive moves they make. GMEX is doing exactly that, providing an exchange with the help of USAVE Tokens, to give ethical people a place to buy, sell and trade gold that has been collected in humane ways.
The new platform for exchanging precious metals (as of now only gold has been mentioned), will use GMEX’s powerful fusion technology suite to operate the Monaco Gold Spot Exchange or MGX as it’s being called. USAVE is participating in the project by offering up their advanced blockchain technology.
USAVE’s blockchain is known for operating at rapid speeds, much faster than traditional blocks, able to work with the company’s high security cold storage used to keep customer wallets safe. The platform will operate on a global scale, making use of GMEX’s package, which includes support for tokenized assets and traditional along with a multi-asset management wallet system known as ForumCrypto.
The team collaboration has solved at least one problem within the gold trading/cryptocurrency exchange market – they’ve successfully connected external cold-storage wallets to a public blockchain to mange the supply and demand of physical gold and the virtual counterpart. USAVE tokens will be the primary payment method for the platform, making MGX suitable for users in multiple countries.
Gold purchased on the platform will be stored in USAVEs private vault, or if the user desires, it will be transferred to a vault of their choosing. The hard cap for the USAVE token is set at $130 million USD right now, with an ICO that is set to begin on September of 2018.
The two teams have expressed their excitement for the new partnership. Also stating their desire to handle a successful, ethical ICO to share the new physical gold and cryptocurrency exchange platform. Sourcing precious metals and stones has been a long time coming, potentially contributing to the end of forced labor, conflicts over resources and illegal trade.
They exchange is under construction, with the main points of interest in ethical setup. Both companies are pushing for the fair and secure trade of gold on a global scale. Neither company is looking to contribute to the violence set around the collection of precious metals or the volatile state of cryptocurrencies. They would rather see a stabilized platform that will help the world’s economic situation improve for everyone.