Spring Media; Ayodeji Makinde
Gold has always played an important role in the international monetary system. Perhaps this is why Gold coins are widely accepted definition of money that is easily bought, sold or traded worldwide. Aside from this, it has served as a hedge against inflation and the erosion of major currencies and is certainly an investment worth considering.
It is therefore good news within the investment sphere that IBMC Financial Professionals Group, an internationally recognized financial services institution & business consultants specializing in Investment & Fund Management, headquartered in the United Arab Emirates has collaborated with US Gold Currency Inc and Blockfills, a transaction platform provider, to introduce the world’s first-ever monetary gold-backed digital gold currency. This was introduced to India and simultaneously to the Gulf Cooperation Council (GCC), Middle East and Africa in June 2020.
Since the inception of this news, a lot of people have been wondering how the digital gold currency works. It works like digital crypto asset-backed up by physical gold. Each US Gold digital currency is backed by US American Eagle one-ounce (33.931 gram) gold coin, minted by US Federal Agency, US Mint. The holders of the currency can redeem their digital assets as a physical gold coin or in US dollars anywhere in the world.
There are basically no restrictions to the classes of people that can benefit from or use the gold currency, ranging from retail and corporate investors, banks, financial institutions and sovereign wealth funds to treasuries and asset management companies, they can all benefit from this digital asset.
This digital currency was launched on June 22, 2020, from Dubai at a specially designed IBMC Hybrid Event by H.E. Sheikh Khalid Bin Ahmed Al Hamed, Chairman of IBMC Financial Professionals Group and attended by other dignitaries and heavyweights in the investment industry.
For investors and business-minded people intending to benefit from this investment initiative, it is simple. This is made easy via a secure digital asset token that is not affected by the volatile swings of the markets, a customer can log in with a secured user ID and password on the trading platform for buying and redeeming the coins. This avails an individual the opportunity to easily exchange his or her digital currency into a tangible asset, monetary gold coins produced by the US Mint.
Trading is also made very easy as USG token holders can redeem their tokens physically for gold coins, should they choose to forego the digital asset in their wallet. They can also sell the USG on the open market through various digital asset exchanges. This may also be done using the Blockfills platform. This is achieved by interchanging it with US Dollars. Each US Gold token (USG) is backed 1:1 with an underlying physical gold coin, the US American Eagle.
In no time it is obvious that more people will take advantage of the significant opportunity that this digital asset provides in reducing the cost of business transactions as well as how well it helps to reduce and eliminate risks in business made possible within the digital ecosystem.
The Global Gold Convention is scheduled to hold on November 23rd in the UAE. At this prestigious event, all the stakeholders will be present to have several panel discussions around the digital gold trading and more investment opportunities in this space. To be a part of this event, registration is required and you can register HERE
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