World’s First Gold-Backed Digital Gold Currency in India

Published on June 26, 2020
Current Context: IBMC Financial Professionals Group, which is an international financial service institution and business consultancy has partnered with US Gold Currency Inc and
World’s First Gold-Backed Digital Gold Currency in India
Blockfills in order to launch the world’s first monetary gold-backed US Gold digital currency.
  • The gold-backed US Gold digital currency is launched for the first time in the world in India, Gulf Corporation Council (GCC), the Middle East and Africa.
  • US Gold Currency Inc is basically the issuer of the US gold digital currency and Blockfills is the transaction platform provider.
  • It was launched from Dubai, UAE at a specially designed IBMC Hybrid Event in a virtual way. At the virtual; event, officials from US Gold Currency, Asia-Africa Development Council, GSEF and Blockfills USA were present.
  • Each US Gold digital currency is backed by a US American Eagle one ounce (33.931 gram) gold coin, minted by the US Federal Agency, US Mint.
  • The holder or the owner of the currency can redeem their digital assets as physical gold coin or in UD dollars from any part of the world.

Question: 

Q.1 In which of the following country/ countries World’s First Gold-Backed Digital Gold Currency was launched?
a. Africa
b. India
c. Both (a) and (b)
d. China

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