In 2010,a Singapore based company, PureGold, started an e-commerce site for Coin and Gold/Silver exchanges. The company has a physical store as well along with an online site,www.bullioncurrencies.com, which manages the online user’s demand to use gold for transactions. BullionCurrencies is an auxiliary branch of PureGold, which has won the Asia Pacific Top Excellence Brand Year in 2012 and has turned it’s own dependency in the market.
PureGold’s belief that Gold is the ultimate currency, has gained new heights of molding, with their increasing interest on Blockchain. Hence, they have uniformly decided to deliver it’s first payment gateway, using the support of Gold.
The value cards at PureGold will be issued and stored under the customers, both as PGG AND PGT. The PGT are meant for online transactions while PGG is to be used as digitized form of Gold. The company also aims at launching the PureGold dispenser machine in the next couple of years. The PGPay payment gateway shall look after the online transactions. Also, PG Cards will be a viable source for paying prices of the products.
PureGold is going to be the first payment gateway to use PGG, supported by Gold. It also affirms to provide 100% transparency in storing Gold. Added to this, It assures of providing a fast, user-friendly experience which provides genuine, third party Safe houses to store gold.
PureGold is built on an Ethereum blockchain token. Ethereum, being a highly competent and easily accessible blockchain, was made the most suitable choice. It shall also provide safe storage with added benefits of converting gold to a number of other Cryptocurrencies.
The rates and features are as follows:
• 1 PGG = 1 gram of gold plus 5% commission. The variability between PGG and gold is no more than 4%. 1 PGT = 1 ETH
• The applications will depend on agreement provided by PGG.
• Prices will depend on Gold price. PGT price will be based on public need.
• KYC will be essential to use PGG on any platform. PGT on the other hand, can be used anywhere online.
Check out their official site for further details.