IBMC, US Gold Currency and Blockfills collaborate to bring USG in the GCC, Middle East and Africa

By Edil Corneille

IBMC Financial Professionals Group has partnered with US Gold Currency and Blockfills to bring the monetary gold-backed digital gold currency to the Gulf Cooperation Council (GCC), Middle East and Africa. The currency is being simultaneously introduced in India. US Gold Currency is the issuer of the US Gold digital currency – USG, and Blockfills is the transaction platform provider.

Each US Gold digital currency is backed by the US American Eagle one ounce (33.931 gram) gold coin, minted by the US Federal Agency, US Mint. The holders of the currency can redeem their digital assets as physical gold coins or in US dollars anywhere in the world.

H.E. Sheikh Khalid Bin Ahmed Al Hamed, Chairman of IBMC Financial Professionals Group elucidated, “We have seen significant demand for gold and USG is an innovative and unique digital currency backed by the American Eagle one ounce gold coin. Today’s global economic climate has further increased that demand at the institutional and retail levels. We are very happy to join hands with US Gold Currency and Blockfills in bringing the world’s first monetary gold-backed digital gold asset to the GCC, Middle East and African markets in addition to India,”

USG token holders can redeem their tokens physically for gold coins, should they choose to forego the digital asset in their wallet. The digital currency can also be sold on the open market through various digital asset exchanges or through Blockfills, in exchange for US Dollars. It can be converted into several other digital assets, including BTC, ETH, USDT and more.

Larry Debry, Director US Gold Currency enthused, “We are honored to be working with the leaders of IBMC and their esteemed team of professionals. Gold has been one of the most significant legacy asset classes throughout history. Just as everyone has written gold off, saying it is outdated and no longer relevant, US Gold Currency created the USG forming a futuristic and modern gold asset class for the 21st Century by marrying monetary gold with the Blockchain. USG is the ‘real’ digital gold.”

“Bringing the USG Digital Asset Currency to the public markets is a result of the great partnership that we have with US Gold Currency and IBMC. Over the past year, we experienced a growing demand for gold as a digital asset. Today’s global economic climate has further increased that demand. We look forward to building a thriving business through our valued partnership with IBMC and US Gold,” said Mike Pearson, Senior Vice President, BlockFills, USA.

The US government division, the US Mint, sets the price of the underlying physical gold coin once a week on Wednesdays. USG pricing follows this publicly available government-set price.