Shariah-compliant digital gold investment platform HelloGold and Jupiter Chain, a smart consentable data exchange, announced plans to make the HelloGold (HGT) token and the JupiterChain (JUPT) token interoperable, providing their respective users with seamless access to each other’s platforms and products.
Jupiter’s token holders will be able to access affordable gold products, while HelloGold’s token users will be able to establish their credit profile while preserving their data privacy when using Jupiter’s platform.
“Our team’s mission is to enable inclusive finance for the masses and channel equal opportunities to the underserved. Partnering with HelloGold on the same inclusion agenda and leveraging each other’s market reach is key to creating sustainable token economies.”
Jupiter utilizes blockchain technology to improve processes, including building identity and credit data. Its projects include a partnership with a Malaysian remittance player with 700,000 users.
Together with the HelloGold platform, GOLDX — a fully operational, Shariah-compliant Ethereum ERC20 cryptocurrency backed by 99.99% investment-grade gold — expands access to gold via any crypto exchange that supports the token, while providing crypto investors with the ability to switch to a physical gold account via the HelloGold platform.
“Gold is a traditional store of investment and savings, notably in Asia, which represents 70 percent of the gold market. Gold is a powerful means of wealth preservation and financial inclusion, and being able to buy, hold and sell gold in a convenient, safe, digital format brings tremendous value to people.”
Through the collaboration, HGT users will be able to access financial services like remittances, which will be provided by Jupiter’s partner in Malaysia. The two platforms are also looking at the possibility of having the GOLDX token as collateral for financing available to HGT token holders. The two players will also work hand-in-hand to expand services to new markets.
Jupiter Chain is powered by Singapore-based JEDTrade, a group of highly-skilled tech experts and former bankers with expertise in cryptography, the blockchain, PKI, and cybersecurity. JEDTrade provides suppliers and buyers with an enterprise solution to help them optimize trade and cash flow.