GoldGram Unveils GGC GoldGramCoin® – A New Asset-Backed Gold Token

NEW YORK, May 13, 2019 – Sin­g­a­po­re-based Gold­Gram Pte. unvei­led its new asset-backed token, GGC Gold­Gram­Coin®, a digi­tal cur­r­en­cy inex­tri­ca­bly backed 100% by phy­si­cal 99.99% fine gold. GGC can be rede­emed at any time.

Foun­ded in 2018 by Lau­rence Cross, Stef­fen Gemu­en­den and Mark Diek­mann – entre­pre­neurs with exten­si­ve expe­ri­ence in finan­ce, pre­cious metals and tra­ding tech­no­lo­gy – Gold­Gram crea­ted GGC using a pro­prie­ta­ry pri­va­te block­chain tech­no­lo­gy based on Ethe­re­um and Hyper­led­ger. The Hyper­led­ger com­po­nent allows Gold­Gram to store vast amounts of infor­ma­ti­on per­tai­ning to GGC, while Ethe­re­um pro­vi­des the abi­li­ty to crea­te an ERC-20 token offe­red as an audi­ted, secu­re “smart” con­tract with live pri­ces of gold.

Among the key dif­fe­ren­tia­tors of GGC com­pa­red to other gold-backed tokens are:

• Intrin­sic, inex­tri­ca­ble link to under­ly­ing gold in a secu­re vault
• Abi­li­ty to purcha­se, sell or rede­em at live pri­ces
• Ful­ly auto­ma­ted pro­cess
• High­ly liquid and trad­able

Cross, Gold­Gram Co-Foun­der and CEO, said: “GGC gives you the abi­li­ty to digi­tal­ly trans­fer stored gold around the world, in one-click, at the speed of an instant messa­ge. GGC is a medi­um of exchan­ge, a unit of accoun­ting and a store of value – the true defi­ni­ti­on of money.”

Gemu­en­den, Gold­Gram Co-Foun­der, said: “Through GGC, we are con­nec­ting the tra­di­tio­nal tra­ding world with the digi­tal world.  We are paving the way for mar­ket par­ti­ci­pants to tra­de GGC against other finan­ci­al instru­ments, whe­ther they are tra­di­tio­nal gold-based pro­ducts, fiat cur­ren­ci­es or other digi­tal assets.

Cross star­ted his care­er as a Navy diver, later beco­m­ing a sal­va­ge diver who reco­ve­r­ed sun­ken gold and sil­ver. See­ing gold emer­ge untar­nis­hed after 200 years under­wa­ter was one of the dri­ving forces behind Gold­Gram. Cross co-foun­ded and beca­me Chair­man of Vis­son Enter­pri­ses Ltd., an Israe­li-based tech­no­lo­gy com­pa­ny that coun­ted Phi­lips Elec­tro­nics as an inves­tor in its inno­va­ti­ve, pro­prie­ta­ry tech­no­lo­gy in fold­able, liquid crys­tal dis­plays.

Gemu­en­den co-foun­ded RTS Real­time Sys­tems in 1992 and ser­ved as its Chair­man and CEO until Bloom­berg acqui­red the com­pa­ny in 2014.  RTS deve­lo­ped a mul­ti-asset class tra­ding plat­form con­nec­ted to 135 exch­an­ges across the world through its own low-laten­cy net­work and data cen­ters.

Diek­mann is Foun­der and Mana­ging Direc­tor of Co-Invest Group, a struc­tu­red finan­ce spe­cia­list and well-known fun­ding part­ner to a varie­ty of start-ups, inclu­ding a regu­la­ted pre­cious metals tra­ding spe­cia­list. He is a mem­ber of the advi­so­ry board of Com­merz­bank and ser­ved as a regu­lar advi­sor to the Ger­man Par­lia­ment.

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