GoldGram Announces GoldGramCoin (GGC) Cryptocurrency to be Backed by 99.99% Fine Gold
GoldGram Pte Ltd, a FinTech company based in Singapore and founded in 2018, by Mark Diekmann, Laurence Cross and Steffen Gemuenden, has launched its cryptocurrency token, GoldGram Coin (GGC) based on the Ethereum blockchain and Hyperledger tech, which is pegged to 1 gram of investment grade gold.
The asset uses ERC-20 on the Ethereum blockchain for smart contracts with live gold prices and uses the Hyperledger technology for the storage of GGC related information.
GoldGram Coin stands out from other gold backed cryptocurrencies for a couple of reasons, some of which are:
- High liquidity and tradability
- Ability to sell or purchase at live gold prices
- Fully automated system
- Direct link to gold in secure vaults
The CEO Cross stated :
“GGC gives you the ability to digitally transfer stored gold around the world, in one-click, at the speed of an instant message. GGC is a medium of exchange, a unit of accounting and a store of value – the true definition of money.”
“Through GGC, we are connecting the traditional trading world with the digital world. We are paving the way for market participants to trade GGC against other financial instruments, whether they are traditional gold-based products, fiat currencies or other digital assets.”