GoldGram, the creator of the new digital asset-backed token GoldGramCoin (GGC), and R3, a leading developer of enterprise blockchain solutions, announced today that they have entered into a partnership program agreement to develop a native GoldGramCoin token for R3’s Corda blockchain platform.
Unveiled in May, GGC is an asset-backed token inextricably backed 100% by physical 99.99% fine gold and redeemable for the physical metal at any time. R3’s Corda is an open-source enterprise blockchain platform that delivers privacy, security, interoperability, and scalability, enabling businesses to transact directly and in strict privacy using smart contracts.
“The significance of a native GoldGramCoin token built on R3’s popular Corda platform, in addition to our existing ERC-20 token, means that all parties who use Corda – many of whom are institutional banks and insurance companies – can utilize GGC as a stand-alone digital currency token for payments, atomic swaps, and other financial transactions.”
– Laurence Cross, CEO and co-founder of GoldGram
“We have long been of the view that enabling the issuance, trading, and settlement of quality asset-backed tokens, like GoldGramCoin, on a blockchain platform is one of the most impactful applications of the technology and it has become a key focus for R3. The applications and use-cases for GGC are extensive. The real-time pricing and scalability of GGC makes the partnership a logical fit for the Corda platform.”
– David E. Rutter, CEO and founder of R3