Through Universal Gold – or UPXAU – users will be given access to government-insured gold. Every token represents 1 troy ounce of gold stored in the vaults of Perth Mint in Australia. Digitizing access to the world’s leading precious metal is great news for cryptocurrency holders. Gold has gone through bullish momentum in 2020, and the trend isn’t slowing down just yet.
A cryptocurrency industry consortium known as the Universal Protocol Alliance has launched a new gold-backed stablecoin that is pegged to gold guaranteed by the Western Australian Perth Mint, which is owned by the Australian government.
Read MoreUphold, a digital investment platform based in San Francisco, announced what it calls “a better form of gold”: Universal Gold.
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