AgAu.io completed its End-to-End Digitalisation and Redemption of LBMA Quality Gold through its Matching Ledger in Switzerland
Zug, Switzerland, November 2021:AgAu AG, the company behind AgAu.io: “The Peer-to-Peer, Electronic Money System backed by Silver (₳g) and Gold (₳u)” announces the successful End-to-End Digitalisation and Redemption of the LBMA Quality Gold on the public Ethereum Blockchain. The process is available for public review on AgAu Matching Ledger. AgAu tokens are built on the public Ethereum Blockchain with stable ERC20 compatible tokens, serving the vision of AgAu to expand as a permission-less global peer-to-peer, electronic, money system. With strong partnerships and investors at AgAu’s side, we have the potential to redesign the financial industry and set a new standard.
“The matching ledger uses the transparency of blockchain technology to establish a trusted system and ensure to the public that no token can be created without first proving the assets they represent. The AgAu Matching ledger ensures a 1 to 1 parity. 1 token will always equal 1 gram of LBMA quality gold (₳u ) or Silver (₳g),” commented the Founder of the AgAu AG, Thierry Arys Ruiz.
In its current state, the matching ledger displays that 1 kg of LBMA quality of Gold Bar equals to 1000 ₳u tokens. AgAu tokens aim to be proven as a superior medium of exchange, store of value and unit of account tradable internationally. AgAu tokens are politically neutral and can legally operate outside the traditional banking system. AgAu tokens do not possess an inflation component, as 1 token will always be 1 gram of physical and allocated LBMA quality gold or silver.
₳u and ₳g tokens represent the direct ownership of their corresponding precious metals. AgAu uses third party verification processes to prove the security and integrity of the system; this includes, legal firms, notaries, auditors, storage facilities and refiners. AgAu’s Proof-of-Asset system shows that no token can be created without including each asset specific information such as the bar’s serial number, quality, quantity, etc. Regular audits concerning the assets and the procedure of creation, including independent parties and purity testing are visible on https://ledger.agau.io. AgAu is building on the platform to be able to redeem the tokens against the associated physical bars or be exchanged against fiat currencies via numerous partners. The company is set to announce new investors and partners during the months to come.
“We welcome the community, partners and other supporters to become part of our great vision” said Thierry Arys Ruiz, founder of AgAu AG.
With AgAu tokens individuals, organizations and governments will have access to a true alternative to fiat currencies. AgAu makes it easy for anyone to pursue financial freedom and own fractions of precious metals secured in the most stable, neutral, and reliable jurisdiction in terms of private property: Switzerland. With the launch of our first tokens, we expect to start our journey towards a more sound, sustainable, and stable monetary system.
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The company AgAu AG was founded in 2018 and borrowed its name from the merger of the two atomic symbols “Ag” (for Silver) and “Au” (for Gold). AgAu plans to issue digital tokens corresponding to the direct ownership of allocated silver and gold bullion in Switzerland. AgAu aims to be the easiest way to transact the direct ownership of allocated and redeemable physical LBMA quality gold and silver. The precious metal shall be audited and secured in regulated private vaults outside the banking system.
AgAu’s mission is to increase the freedom of exchange of goods, values, and ideas, while establishing a secure, stable, and decentralized money platform that will enable everyone, to protect their wealth and execute payments worldwide. You can learn more by reading the official White Paper at AgAu.io
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We are inviting the community, investors, ecosystem and media partners to reach out by following us on social media and expressing your interest.
Learn more about AgAu.io: The Peer-to-Peer, Electronic Money System
@AgAuCrypto
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