back Back

Coro Global launches CORO app using hashgraph distributed ledger technology

By Pavithra R

September 07, 2020

Share

J. Mark Goode, CEO of Coro Global Inc

Coro Global, a Florida-based FinTech company, has announced that it has formally licensed Hashgraph’s distributed ledger technology (DLT) to run its payment app CORO, enabling customers to easily exchange, send and save gold as well as U.S. dollars.

Hashgraph is a distributed ledger technology developed by Leemon Baird, the co-founder and CTO of Swirlds, in 2016. It became publicly available in 2019 and has quickly become a faster and much more secure alternative to blockchain technology. It can reach stunning speeds of up to 500,000 transactions per second, while it’s asynchronous Byzantine Fault Tolerance (aBFT) consensus algorithm makes it extremely resistant to cyber-attacks. Unlike blockchain, Hashgraph does not rely on miners to validate transactions but leverages directed acyclic graphs for time-sequencing transactions without bundling them into blocks.

Hashgraph was chosen to develop CORO’s AML/KYC private permissioned distributed ledger network because of its high resilience to cyberattacks and the ability to send money across the world instantly, with real-time settlement.

“We’re proud to be the first company to build a payment app using the most secure private permissioned distributed ledger technology the world has ever known. Our main priorities have always been the security and peace of mind of our customers,” said J. Mark Goode, CEO of Coro Global Inc.

Its mobile app, CORO, combines gold with advanced and secure payment technology. It allows customers to exchange, send, and save gold and U.S. dollars easily and securely. 

Founded in 2018, Coro Global has created a new financial payment system where gold can be used as currency in everyday transactions as easily as fiat currencies. Currently, the CORO app is available to residents of Florida, Arkansas, Alaska, Delaware, Idaho, Montana, Massachusetts, Arizona, Wisconsin, and South Carolina in the Apple App and Google Play stores. The company intends to release CORO in additional U.S. states in the coming months.

Previous Article

September 07, 2020

Ziglu rolls out peer-to-peer payments for all currencies

Read More
Next Article

September 07, 2020

Banque Saudi Fransi and Mastercard launch Priceless card

Read More






IBSi FinTech Journal

  • Most trusted FinTech journal since 1991
  • Digital monthly issue
  • 60+ pages of research, analysis, interviews, opinions, and rankings
  • Global coverage
Subscribe Now

Other Related News

October 29, 2024

Afin Bank and Thought Machine launch digital bank for Africans in the UK

Read More

October 22, 2024

Tuum partners with Google Cloud to deliver core banking in EMEA

Read More

October 17, 2024

Stress and Mortgages: Are UK Banks Failing Homebuyers?

Read More

Related Reports

Sales League Table Report 2024
Know More
Global Digital Banking Vendor & Landscape Report Q3 2024
Know More
NextGen WealthTech: The Trends To Shape The Future Q4 2023
Know More
IBSi Spectrum Report: Supply Chain Finance Platforms Q4 2023
Know More
Treasury & Capital Markets Systems Report Q1 2024
Know More