Aurus, a company creating a gold-backed token protocol, announced it has finalized a funding agreement with Dubai-based Silver Rock Group (SRG) to pre-subscribe for €1,000,000 worth of AurusCOIN (AWX) tokens at the company’s upcoming Initial Exchange Offering (IEO).
AWX derives 70% of the revenue created from fees generated by the company’s AurusGOLD (AWG) token, a 100% gold-backed cryptocurrency on the Ethereum blockchain.
Founded in 2017, Aurus has created a blockchain protocol that digitizes real gold bullion allowing a network of partnered gold providers and vaults to securely and transparently interact with each other. The AurusGOLD token represents 1 gram of 99.99% gold held securely in a vault.
The protocol is designed to manage the creation, transactions, and withdrawals of the gold-backed token. Aurus’ self-sustaining ecosystem will enable transparent trading, traceability, liquidity, and reduced costs.
“We see no point in competing with the world’s biggest gold traders when it comes to selling gold. Our aim is to create a stable, globally viable alternative gold product and it seems that the best way to achieve that is to let everyone join our ecosystem. Aurus is about collaboration, not competition, it’s about transition and bringing the “old” traditional gold market into the digital 21st century.”
– Guido Van Stijn, Aurus Managing Director
Silver Rock Group (SRG) specializes in structuring & investing in a variety of financial instruments including private placements, pre-IPO opportunities, private equity accumulation of undervalued securities, and special situations. Its recent concentration has been on technology opportunities.
SRG also specializes in introducing new technologies to the MENA region, through JV’s & licensing of the technologies. SRG has diversified its investment strategy to include the purchase of tokens. SRG is seeking issuers with disruptive technologies operating in the blockchain space.