INTERNET CITY, DUBAI, Aug. 15, 2022 – LBank Exchange, a global digital asset trading platform, has listed ComTech Gold (CGO) on August 15, 2022. For all users of LBank Exchange, the CGO/USDT trading pair is now officially available for trading.
Making gold easy to own and easy to trade, ComTech Gold (CGO) utilizes the power of blockchain technology to provide cryptocurrency, each one of which represents one pure gram of gold that is fully backed, redeemable, and regulated. Its native token CGO has been listed on LBank Exchange at 19:00 (UTC+8) on August 15, 2022, to further expand its global reach and help it achieve its vision.
Introducing ComTech Gold
Currently, 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 the investor ownership of the underlying commodity. ComTech Gold (CGO) solves this problem by providing a 100% gold-backed cryptocurrency. Watch the video to view the introduction of ComTech Gold.
Each CGO 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 that is fully backed, redeemable, and regulated. And it will be priced at the prevailing rate for gold on international markets.
In addition, ComTech Gold is 100% following Shariah guidelines, making it the first token of its kind. All gold tokens are 100% backed by real physical gold. The gold comes in standardized 1 kg bar of 999.9 purity from internationally recognized refineries. These physical gold bars are stored separately from other gold in the UAE in internationally accepted vaults.
CGO token holders have the right to convert their tokens to physical gold. Any investor holding coins equivalent to 1 kg or more of gold can cancel their tokens in exchange for equivalent gold in multiples of 1000 tokens (1 kg gold). Similarly, 1000 CGO tokens can be redeemable against the physical gold bar of 1 kg gold. Gold tokens are issued with an approved digital custodian. The custodian will maintain records to offer accountability and an audit trail of all transactions in user’s wallet. A reputed auditing firm conducts regular audit to match the outstanding supply of CGO tokens and give audit report by custodian about physical quantity of gold ensuring that the reserve of physical gold exactly matches the outstanding supply of CGO tokens. Both these Audited reports are available on ComTech gold website to maintain full transparency.
About CGO Token
The ComTech Gold system is built on the XDC Network, which is the world’s first hybrid blockchain. It connects both public state and private sub-networks, protecting user’s data while remaining transparent and auditable, helping enterprises enhance their business infrastructure, reduce costs, and improve visibility. With interoperable smart contracts, near zero fee transactions and high security, it’s designed to support a wide range of novel blockchain use cases. The CGO token follows the standard XRC20 protocol, and all transactions function according to the smart contract rules set by the XDC network.
The total supply of the CGO is 121 thousand (i.e. 121,000) tokens. It has been listed on LBank Exchange at 19:00 (UTC+8) on August 15, 2022, investors who are interested in the ComTech Gold investment can easily buy and sell CGO token on LBank Exchange now. The listing of CGO token on LBank Exchange will undoubtedly help it further expand its business and draw more attention in the market.
Learn More about CGO Token:
Official Website: https://www.comtechgold.com
LBank is one of the top crypto exchanges, established in 2015. It offers specialized financial derivatives, expert asset management services, and safe crypto trading to its users. The platform holds over 7 million users from more than 210 regions across the world. LBank is a cutting-edge growing platform that ensures the integrity of users’ funds and aims to contribute the global adoption of cryptocurrencies.
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