CrossTower launches G-Coin digital gold in the US
By Edlyn Cardoza
CrossTower Inc., one of the world’s fastest-growing crypto and digital asset exchanges, has introduced the G-Coin digital gold token (GCOIN) for its U.S. customers. Unlike cryptocurrencies, the G-Coin token is a digital title of ownership to 99.99% pure physical gold stored in secured vaults. All tokens thus give buyers ownership of the underlying physical gold rather than exposure to gold’s price. Tokens combine the best qualities of traditional gold – stability, security, and value – with the benefits of digital innovation. Following its launch in the U.S. in 2019 through G-Coin’s proprietary G-Wallet, GCOIN is now available for trade on the CrossTower platform in the United States, along with cryptocurrencies such as Bitcoin, Ethereum and USD Coin.
2021 marked a year of unprecedented inflation for the U.S. dollar, causing more and more consumers to seek out alternative forms of wealth preservation, including cryptocurrencies and gold. GCOIN is thus a timely product for the market. Customers can buy and sell GCOIN online safely, securely, and seamlessly. Tokenization enables users to purchase a digital title of ownership to gold conveniently and in smaller quantities than is typical in the physical gold market. GCOIN can be bought and sold with and for BTC, ETH and USD.
Moreover, the physical gold – Responsible Gold™ – is produced by miners and refiners who conform to the highest environmental, social, and governance standards. Tracked from mine to vault on blockchain technology, Responsible Gold™ provides the ultimate assurances of provenance, chain of custody, and 99.99% purity.
Kapil Rathi, Chief Executive Officer and Co-Founder of CrossTower, said, “Millennials and youth are tapping into the crypto sector and demand, education, and interest in this sector is on the rise. To boost this, CrossTower is adding this unique option to buy and trade GCOIN. In addition, G-Coin provides transparent information to the buyer on where the underlying gold is mined, its ESG principles, and where GCOIN is stored. CrossTower is proud to take on the opportunity to enable every individual to own this popular, traditional asset in a new digital and ESG compliant form.”
“To own GCOIN is to own gold,” said Brent de Jong, Chairman and Founder of G-Coin. “Our partnership with CrossTower, a global leader in digital asset trading, will enable traders keen to manage cryptocurrency volatility and avoid the burden of physical storage, to purchase GCOIN as a natural hedge for their portfolios. Blending asset classes to maximize return and minimize volatility is critical and GCOIN provides an alternative to enhance portfolio performance through stability, liquidity, and effective diversification. We see gold as a powerful wealth protector and creator, and we’ve made it our mission to make it accessible as a savings tool and also to give it additional utility as a medium of exchange”.
With the G-Wallet, users can unlock G-Coin’s full functionality to send or gift gold to friends, family, and other G-Wallet holders instantaneously and at zero cost. A G-Coin debit card will allow users to spend GCOIN for merchant transactions.
CrossTower is a global thought-leader and a participant of the Internet and Mobile Association of India (IAMAI), Blockchain and Crypto Assets Council (BACC), Global Digital Asset and Currency Association (Global-DCA) and the Digital Asset Regulatory Legal Alliance (DARLA). Through these organizations, CrossTower facilitates policy that will enhance the development and innovation of finance while emphasizing the protection and safety of customers’ assets.
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October 07, 2022
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