Usave Blockchain partners with GMEX Group for eco-responsible digital gold trading
Usave Blockchain recently partnered with GMEX Group to launch the digital Monaco Gold Spot Exchange for secure trading of physical "eco-responsible gold," according to a press release. Usave's platform tracks gold from mine to market to ensure that it is ethically sourced.
The platform will use the Usave token as the main payment method; the physical gold will be stored in a Usave vault or sent to a customer's chosen vault.
GMEX will provide its ForumMatch multi-asset exchange platform, which will come with a ForumCrypto wallet, market surveillance, reporting and other features. The platform will use secure cold storage for external wallets.
As part of the agreement, GMEX has acquired a 30 percent stake in Usave, according to the release.
"Our mission is to develop a complete and sustainable gold ecosystem and guarantee the origin of all eco-responsible gold as it moves through the entire supply chain," Usave co-founder and CEO Selim Fendi said in the release. "This partnership allows us to offer an efficient and stable means of physical gold exchange within our ecosystem and use technology to combat the risk of today’s volatile cryptocurrency markets."