Bullion custodial service Cache Gold and its CGT tokens backed by 1 gram of physical gold are now trading live with a BTC market on ProBit Global which currently accommodates nearly 35% of all CGT volume.
Cache Gold was a finalist at the 2020 Monetary Authority of Singapore (MAS) FinTech Awards which featured an eclectic mix of startups and their bid to accelerate innovation through digital fintech solutions to tackle the ongoing pandemic and global sustainability initiatives.
With the bullion market currently at $11.391 T, Cache Gold targets the significant overlap between gold and digital asset markets through cost-efficient services including tokenizing gold deposits and facilitating CGT token redemptions to alleviate the myriad issues related to transporting, insuring, and storing physical gold.
Gold holders can physically exchange their assets at partnering vaults The Safe House and Silver Bullion through the transfer in feature to receive the equivalent amount of CGT.
A key feature behind Cache Gold’s ability to accommodate the intersection of gold and cryptocurrency is the Proof of Reserve asset tracking system, which ensures that the circulating supply remains in step with the actual assets held in physical vaults throughout Singapore, Switzerland, and the US.
Powered by Chainlink, the Locked Gold Oracle performs a set of checks and balances to ensure that the amount of gold locked on the freight tracking platform Gramchain reflects total reserves which currently holds 71.673K grams valued at $4.136 M.
Cache Gold’s explorer displays a wealth of information such as RFID and serial ids, photos, valuation, custodial information, purity, and other key metrics to provide a level of unmatched transparency in comparison to legacy solutions.
ABOUT CACHE GOLD
CACHE Gold Token (CGTX) transparently combines the unique qualities of gold with the benefits of a modern crypto asset. Fully backed, redeemable, regulated and with worldwide liquidity, one CGT represents 1 pure gram of gold.
https://cache.gold
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