IBMC brings digital gold to the UAE
Currency is backed by a one ounce gold coin from US Mint
Dubai: IBMC Financial Professionals Group has struck a partnership with US Gold Currency and Blockfills to bring a monetary gold-backed digital gold currency to the Gulf. The currency is being simultaneously introduced in India.
Each US Gold digital currency is backed by US American Eagle one ounce (33.931 gram) gold coin, minted by a US government agency. The holders of the currency can redeem their digital assets as a physical gold coin or in US dollars anywhere.
Consumers and businesses benefit from a secure digital asset token that is not subject to the swings of the markets, and from the opportunity to exchange their digital currency into a tangible asset - monetary gold coins produced by the US Mint.
“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,” said Sheikh Khalid Bin Ahmed Al Hamed, Chairman of IBMC Financial Professionals Group.
“Today’s global economic climate has further increased that demand at the institutional and retail levels.”
Blockfills is the transaction platform provider.
A customer can login with a secured user ID and password on the trading platform for buying and redeeming the coins.
