Payments

CrossTower intros G-Coin digital gold token

February 9, 2022

CrossTower Inc., a crypto and digital asset exchange, has launched its G-Coin digital gold token for U.S. customers. This token is a digital title of ownership to 99.99% pure gold stored in vaults, according to a press release.

With these tokens, users can purchase gold in smaller quantities than in traditional gold markets. They can also buy and sell the tokens with bitcoin, ether and U.S. dollars. The gold itself is known as Responsible Gold, since the miners follow high environmental, social and governance standards. The company uses blockchain technology to track the gold from the mine to the vault.

"Millennials and youth are tapping into the crypto sector and demand, education and interest in this sector is on the rise. To boost this, CrossTower is adding this unique option to buy and trade G-Coin," Kapil Rathi, CEO and co-founder of CrossTower, said in the release. "In addition, G-Coin provides transparent information to the buyer on where the underlying gold is mined, its ESG principles, and where GCOIN is stored. CrossTower is proud to take on the opportunity to enable every individual to own this popular, traditional asset in a new digital and ESG compliant form."

Users store the tokens on their G-Wallets, which they can then use to send gold to friends, family and other G-Wallet holders at zero-cost.