Officials representing crypto and digital asset exchange CrossTower Inc. said the company has introduced the G-Coin digital gold token (GCOIN) for domestic customers.
The G-Coin token possesses a digital title of ownership to 99.99 percent pure physical gold stored in secured vaults, giving buyers ownership of the underlying physical gold instead of exposure to gold’s price.
“Millennials and youth are tapping into the crypto sector, and demand, education, and interest in this sector is on the rise,” CrossTower Co-Founder and Chief Executive Officer Kapil Rathi said. “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.”
GCOIN is available for trade on the CrossTower platform, along with cryptocurrencies such as Bitcoin, Ethereum, and USD Coin.
“To own GCOIN is to own gold,” Chairman and Founder of G-Coin Brent de Jong said. “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.”
de Jong said GCOIN views gold as a wealth protector and creator, with the overarching goal of making gold accessible as a savings tool while giving it additional utility as an exchange medium.