Backing of Golden Currency is Now Fully Transparent
November 7, 2018. Golden Currency (www.goldencurrency.money), the first global private currency fully backed by gold, makes their gold reserves fully transparent to users.
Golden is the name of money for everyday cash and non-cash transactions, issued in October 2018.
Each golden is backed by 0.025 grams of 999.9 gold, which is currently equal to about 1 USA dollar.
Now every user can get real-time information about the gold owned by issuer. At the moment users can get information about the type of gold bars owned by issuer and vaulted, their weight and even their serial numbers.
For the first issue Credit Suisse 999.9 gold bars manufactured by Valcambi are used. Gold is stored now in a vault of BullionStar Pte Ltd, an audited Singaporean company with registration number 201217896Z, Singapore’s premier bullion dealer, doing business since 2012. The secure vault is located at 45 New Bridge Road, Singapore, it is equipped with surveillance cameras, motion detectors and seismographic vibration detectors. The vault is a steel bar reinforced concrete vault with a 3.5 inch thick vault door from Chubbsafes.
BullionStar engages the independent 3rd party LBMA approved auditor, Bureau Veritas, to audit all customer owned bullion bi-annually. Chubb Insurance, the world’s largest publicly traded property and casualty insurer, are providing insurance coverage for the gold in the vault.
Every user now can check the amount of gold owned and vaulted by Golden Currency LLC (the issuer of golden), by going to BullionStar online service of Live Audit Report (link: https://www.bullionstar.com/vault/audit/overview ) and checking the available gold amount of Golden Currency LLC, provided under 14205 vault account.
Such enhanced transparency is in line with Golden Currency strategy, planned to make golden one of the most transparent and reliable currencies in the world.
Golden can be exchanged for gold, any golden user can come to the vault and get 999.9 gold bullions. At the moment the minimum quantity of gold that users can get is 2.5 grams.
All details on the Golden Currency you can also find on web pages of the currency at www.goldencurrency.money