BitMart, a premier global digital asset trading platform, will list Comtech Gold (CGO) on November 10, 2022, for all BitMart users, the CGO/USDT trading pair will be officially available for trading at 10:00 AM (UTC).
What is Comtech Gold (CGO)?
ComTech is 100% Shariah-compliant, making it the first token of its kind. Each token is backed by a clearly identifiable piece of gold that carries its own audit trail of its transactions. One CGO represents one pure gram of gold. Fully backed, redeemable, and regulated. There is no investment-grade gold product that is both easy to own and easy to trade. Physical gold is hard to store and transport. Gold futures are easy to trade but don’t give you ownership of the underlying commodity. ComTech solves this problem by providing a 100% gold-backed cryptocurrency.
Features
- Token Size and Pricing
Each Gold token would represent 1 gram of Gold and will be priced at the prevailing gold rate.
- Gold Backing
All Gold tokens will be 100 % backed by physical Gold in the form of Standardised 1 kg bars of 999 purity. The Gold bars would be identifiable through their bar numbers and will be of internationally accepted refineries. We are in discussions with Gold Supplies which are internationally renowned (e.g. StoneX) who will be able to provide physical golds to support the tokens.
- Shariah Principles
The product will be 100% following Shariah Principles and thereby will be the first of its kind in the region. Each Gold token will be backed by physical gold which would be identifiable and segregated.
- Conversion of Gold Token to Physical Gold
Holders of Gold Tokens will have the facility to convert their tokens to Physical 1 Kg Gold bars. Any investor holding gold tokens equivalent to 1 kg (1000 tokens) can request for cancellation of their tokens in Exchange for physical 1 kg Gold Bars.
- Vaulting and Storage
The physical bars will be stored with Transguard in the UAE which is one of the internationally accepted vaults on a segregated basis.
- Digital Custodian
The Gold tokens issued will be held with an approved digital custodian. These will be held on a segregated basis and will complete the accountability and audit trail of tokens held under each user’s wallet account.
Why Comtech Gold (CGO)?
The ComTech Gold system is built on the XDC Network. XDC is the world’s first hybrid blockchain. It connects both public state and private sub-networks. This protects your data while remaining transparent and auditable.
The Gold will be stored with Transguard in the UAE ensuring that the Gold is stored on a segregated basis. There will be audits and inspections regularly to ensure there is complete traceability of the Gold which can be linked to the Tokens issued.
- 100% Allocated Gold
- One Token = One Fine Gram of Gold
- Zero Custodian Fees(This offer is for a limited time only)
- Instant Settling Time
About BitMart
BitMart Exchange is a premier global digital assets trading platform with over 9 million users worldwide and ranked among the top crypto exchanges on CoinMarketCap. BitMart currently offers 1000+ trading pairs with one of the lowest trading fees in the market. To learn more about BitMart, visit their Website, follow their Twitter, or join their Telegram for more updated news and promotions. Download BitMart App to trade anytime, anywhere.
About Comtech Gold (CGO)
Digital Gold Storage tokens are called “CGO”. Wallet Transfer and Blockchain Ledger infrastructure have been developed on the XDC Blockchain Network.
To learn more about Comtech Gold (CGO), please visit their Website, follow their Twitter, and join their Telegram.
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