USAVE provides a disruptive alternative ecosystem for today’s gold production and distribution standards. It enables an ethically sourced gold supply chain from the miner, with connected hardware recording production, through to tracking and fair payments using Blockchain technology. In turn, this allows visibility and accessibility for a wider market to physically trace gold and enables human transformation for mining communities globally.
GMEX, a provider of exchange, post-trade and digital technology solutions, will provide the exchange with the ForumMatch multi-asset exchange trading platform that supports both traditional assets and tokenised digital assets.The technology will run a high speed private Blockchain. Also it will secure cold storage linked to external wallets and a public Blockchain, addressing provenance of gold from demand to supply linking physical gold and storage.
The MGX will offer a solution based on the trading of physical gold and will not operate by trading duplicates of international gold derivative contracts. Using the USAVE token as the main means of payment, the MGX will establish a strong physical market, where physical gold is exchanged and stored in the USAVE vault or delivered to the customer’s vault of choice.
On 11 July, USAVE announced an Initial Coin Offering (ICO) to power the development of the platform to raise a hard cap of USD 130 million, with the pre-ICO sale set to go live on 17th September 2018.
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