Golden Currency announced the first issue of Golden. Golden is planned to be the first global private currency fully backed by gold.
Golden is the name of real money, which will be used for everyday cash and non-cash transactions.
The first sample issue of Golden has one denomination of “1 Golden” which was minted on a special paper with watermarks, visible and invisible fibres and other security features.
Each golden is backed by 0.025 grams of 999.9 gold. Currently it is equal to about 1 USD. For the first issue Credit Suisse 999.9 gold bars manufactured by Valcambi are used. Gold is stored now in a vault of BullionStar Pte Ltd, an audited Singaporean company with registration number 201217896Z, Singapore’s premier bullion dealer, doing business since 2012. The secure vault is located at 45 New Bridge Road, Singapore, it is equipped with surveillance cameras, motion detectors and seismographic vibration detectors. The vault is a steel bar reinforced concrete vault with a 3.5 inch thick vault door from Chubbsafes.
Golden can be exchanged for gold, any Golden user can come to the vault and get 999.9 gold bullions. At the moment the minimum quantity of gold that users can get is 2.5 grams.
Nobel prize winner Friedrich August von Hayek in his book The Denationalization of Money in 1976 advocated the establishment of competitively issued private moneys and Golden Currency project is the practical implementation of Hayek ideas.
Now there is no other money in the world that is fully backed by real assets, inflation-free and independent on political and economic situation of the country where it is issued.
Golden project started in September 2017, when initial analysis and conceptual study of the project were carried out. The project is implemented by a highly professional team led by founders with extensive experience in implementing complex and large investment projects. The issuer of Golden is an entity registered in USA. The operating company is registered in European Union.
In order to use Golden in banking and business globally, the code XGN is used, which is correlated with ISO 4217 standard that delineates currency designators.
Golden (XGN) official prices are publicly available. They are published with 1-day delay and based on the market rates of gold. Currently official USD / XGN and EUR / XGN rates are published.
Golden is available not only in cash, but also in blockchain form. Golden Currency operating company issues ERC20 Ethereum Golden tokens and makes it available to exchange Golden cash for Golden tokens.
All details on the Golden Currency you can also find on web pages of the currency at www.goldencurrency.money
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