Categories: Press Release

CoinSpot listing new Gold and Silver Standard


Gold is certainly grabbing headlines lately, having surpassed all-time record highs in Aussie dollar terms amid growing global economic and geopolitical uncertainty.

However, getting one’s hands on the precious metal – and in fractional amounts – is not always that easy for everyday people.

Until now.

In an Australian first, one of the country’s preeminent bullion dealers is combining the 5,000-year-old monetary metal with the new age of blockchain technology.

Australia’s most popular crypto exchange, CoinSpot, has just listed the new “Gold Standard”, this first-of-its-kind gold-backed digital asset and stablecoin.

And it’s not just gold – Gold Standard is being joined by its silver equivalent, Silver Standard.

This new offering will give newcomers and experienced crypto traders alike an asset-backed crypto token using the Ethereum blockchain.

The tokens allow longer-term investment as well as a stablecoin for traders to park profits in-between trades without converting to Aussie dollars.

Uniquely, the Gold and Silver Standard tokens are 100% backed by real physical gold and silver bullion already vaulted, insured, and verified in the high regulatory and geopolitically safe environment of Australia.

Each AUS (Gold Standard) and AGS (Silver Standard) token equals one gram of each metal with their price pegged to the spot price of each metal.

Gold and Silver Standard was created by Ainslie Bullion, one of Australia’s largest and oldest bullion dealers (Est 1974).

“We’ve successfully combined the security, transparency, and efficiency of the blockchain with the world’s oldest and most trusted forms of monetary value in their physical form,” says Director Paul Engeman.

“That we have done this within the stable and high regulatory environment of Australia makes these uniquely safe.”

Both tokens are redeemable for gold and silver bullion through Ainslie at no charge and the bullion can be delivered anywhere in Australia.

Gold and Silver Standard represent an unmatched ability to cost-effectively build a holding of gold or silver without the cost and logistics of freight and storage.

We are pleased to announce that AUS and AGS are listed as tokens available to buy and sell instantly with CoinSpot, Australia’s leading digital currency platform.

This provides the investment community an easily accessible stablecoin with capital appreciation prospects.

There are over 1.7 million tokens available from day one and this will grow with demand, making the Gold and Silver Standard unique in the market as a quickly scalable liquidity provided by a trusted bullion expert.

All the bullion backing the tokens is already stored in Australia’s largest high-security vault, Reserve Vault, insured by the world’s leading insurer and verified by global accounting and assurance firm, BDO.

Every bar has a unique serial number linked to a blockchain transaction ID (TXID) for when it is minted and burned. At any time, anyone can verify that the number of grams tokenized equals the number of grams vaulted.

Gold and silver’s price surge over the last month has come off the back of growing concerns around the global economy, the US-China trade war, central bank monetary policy seeing a record $15 trillion in negative-yielding bonds around the world, the US Fed commencing rate cuts, and now the Chinese Yuan devaluation shock.

Whilst at all-time highs in Australian dollar terms, gold in US dollar terms is still only halfway back to its previous highs during the Euro debt crisis, and silver even further from previous highs.

The prospect of this USD gold and silver rally just taking off combined with possibly further AUD declines has Australian gold and silver investors very excited.

Already this year, gold has outperformed the ASX200 and that is before any major ‘market shocks’ yet felt.

Gold and Silver Standard tokens are available right now to buy and sell using CoinSpot’s famously easy and secure platform.

Ainslie Bullion’s trademark is “Balance your wealth in an unbalanced world” and CoinSpot clients now have the ability to do exactly that.

Micky News

Finance, cryptocurrency and blockchain news - created by Australians, for the world.

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Micky News

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