G-Coin digital gold token introduced by CrossTower – The Royal Gazette | Bermuda News, Business, Sports, Events, & Community

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G-Coin digital gold token introduced by CrossTower

CrossTower Inc, the crypto and digital asset exchange with an office in Bermuda, has introduced the G-Coin digital gold token for its American customers.

Unlike cryptocurrencies, the company said, the G-Coin token is a digital title of ownership to 99.99 per cent pure physical gold that is stored in secured vaults.

Therefore, all tokens give buyers ownership of the underlying physical gold, rather than exposure to gold's price, CrossTower said.

It added that tokens combine the best qualities of traditional gold — stability, security and value — with the benefits of digital innovation.

After its launch in the US in 2019 through G-Coin's proprietary G-Wallet, G-Coin is now available for trade on the CrossTower platform in the United States, along with cryptocurrencies such as Bitcoin, Ethereum and USD Coin.

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 G-Coin. In addition, G-Coin provides transparent information to the buyer on where the underlying gold is mined, its ESG principles, and where G-Coin 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."

Founded in 2019, CrossTower has offices in the US, Bermuda and India.

CrossTower Bermuda Ltd is licensed by the Bermuda Monetary Authority to operate as a digital asset exchange and provide custodial wallet services.

Kapil Rathi, chief executive officer and co-founder of CrossTower (File photograph)

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Published January 17, 2022 at 12:05 pm (Updated January 17, 2022 at 9:04 pm)

G-Coin digital gold token introduced by CrossTower

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