NEW YORK, Jan. 14, 2022 /PRNewswire/ — CrossTower Inc. (“CrossTower”), 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 that is 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 US 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.
Founded in 2019, CrossTower, ranked fourth in the world by Cryptocompare, is a crypto exchange with capital market capabilities. CrossTower empowers smart money to push the limits of what is possible. CrossTower provides the best-in-class services and products tailored to the needs of retail traders and institutions, including hedge funds, family offices, endowments, pensions, and other market participants. CrossTower leverages its vast experience in trading, technology, operational infrastructure, innovative pricing, regulations, and compliance to make cryptocurrency and digital assets accessible to retail and sophisticated institutional market participants. CrossTower has offices located in the US, Bermuda, and India.
The G-Coin token is operated by the Emergent Technology & Payments Group (“EmTech”). EmTech develops and commercializes technology solutions to create interconnected, frictionless, and responsible fintech ecosystems. The Responsible Gold Ecosystem provides the means for gold with irrefutable, blockchain-based provenance records, that conform to best practice ESG controls, to be digitally minted into G-Coin tokens that can be used to save, send, and spend Responsible Gold. G-Coin brings gold into the digital age, making it accessible and giving it true utility. G-Coin Wallets allow users to send gold from peer to peer both locally and across borders. The G-Coin debit card allows users to spend gold on day-to-day purchases. G-Coin tokens are redeemable for physical Responsible Gold bars*. The group operates in more than 60 high-growth markets across Asia-Pacific, Latin America, the Middle East, and Africa. To learn more, visit www.emergenttechnology.com. www.gcoin.com. www.responsiblegold.com.
*Although physical redemption of Responsible Gold™ backing G-Coin is permitted under certain conditions, restrictions may exist in specific jurisdictions. For inquiries regarding the availability of such feature please contact customer support at [email protected].
The information provided herein does not constitute investment, tax, legal or accounting advice. No representation or warranty is made as to the accuracy, content, suitability or completeness of the information, analysis or conclusions provided. As with many other assets, the risk of loss in trading or holding gold or digital assets can be substantial and should be considered carefully in light of personal financial conditions.