ComTech Gold (CGO) a stablecoin issuer, is enticing gold fans into the digital asset arena by placing gold on the blockchain world. Leading cryptocurrency players in lending segments have already expressed their interest to be part of this “Sea change” in the gold market.
Comtech FZCO, a company based in the United Arab Emirates, has announced the introduction of ComTech Gold (CGO), a physical gold-backed digital stable coin, each coin equalling one gram of pure gold of 999.9 purity. Gold traders can now trade CGO against USDT on leading exchanges such as Bitrue; further trading pairs will be added soon.
Being built on XDC Network, ComTech Gold aims at making CGO a real e-gold that is highly tradable, easily transferred in seconds at low transaction cost. According to the company, traditional gold investors can buy and sell CGO tokens instantly with their gold bars securely stored in the Transguard, a reputed secured Vault operator in the UAE.
CGO, being less volatile than many other cryptocurrencies benefits crypto investors diversify portfolios and hedging risks. CGO completely changes the way in which gold can be used, it could be a really big sea change in the history of gold. The advent of CGO will enable investors to own both digital and physical gold and manage these assets in the same efficient manner.
Gold's attraction as a holding in a cryptocurrency portfolio may be supported by its price and its relatively stable pricing. Over the past six months, the price of gold has surged by 18% with average daily trading volumes over $112.5 billion, around five times greater than the entire Dow Jones.
Check out Wallets and Exchanges supporting ComTech Gold (CGO) Token list here: