At the recent Singapore FinTech Festival, HelloGold Foundation (HGF) proudly announced the launch of Gold Backed Token (GBT), housed on the Ethereum blockchain. GBT is a fully operational, 100% audited gold backed stablecoin.
The main purpose of the GBT is to help cryptocurrency investors to preserve their digital wealth. With the launch of GBT, HGF have pioneered a fusion of blockchain technology, digital currencies, and real assets. They state that GBT will help investors to risk manage their cryptocurrency portfolios.
As crypto investors know, cryptocurrencies go through periods of extreme fluctuations, this is true even for the most liquid cryptocurrency – Bitcoin. To risk manage this volatility, the answer is to transfer funds to a stablecoin. In the case of GBT, it is a tradable digital asset fully backed by 99.99% investment grade gold that is allocated, vaulted and audited in Singapore. The gold is investment grade PAMP Suisse gold 1kg bars, with each GBT representing 1g of gold.
Robin Lee, CEO of HelloGold Foundation, said: “GBT is the ultimate liquid crypto hedge that will enable crypto investors to manage their crypto portfolio”
The process of exchanging either Bitcoin or Ethereum for GBT can be found at https://www.hellogold.org/ along with details of pre-registration for our launch on 20 December 2017.
