The token fully backed by gold – ComTech Gold (CGO) is now available to trade on the LBank Exchange

Internet City, Dubai, August 15, 2022 – Global digital asset trading platform LBank Exchange incorporated ComTech Gold (CGO) on August 15, 2022. For all LBank Exchange users, the CGO/USDT trading pair is now officially available for trading.

Facilitate the acquisition and trading of gold easily, COMTECH GOLD (CGO) uses the power of blockchain technology to provide a cryptocurrency, each representing one pure gram of gold that is fully backed, redeemable and regulated. Its native token CGO was listed on the LBank Exchange at 19:00 (UTC+8) on August 15, 2022, expanding its global reach and helping it realize its vision.

Introducing ComTech Gold

Currently, there is no investment grade gold product that is easy to own and easily trade. Physical gold is difficult to store and transport. Gold futures are easy to trade but do not give the investor ownership of the underlying commodity. ComTech Gold (CGO) solves this problem by providing a 100% gold-backed cryptocurrency. watch the video To view the introduction to ComTech Gold.

Each CGO token is backed by a clearly identifiable piece of gold that carries its own audit trail for its transactions. CGO represents one pure gram of fully backed, recoverable, regulated gold. It will be priced at the prevailing price of gold in international markets.

In addition, ComTech Gold follows 100% Shariah guidelines, making it the first token of its kind. All gold tokens are 100% backed by real physical gold. The gold comes in a standard 1kg bar of 999.9 purity from internationally recognized refineries. These actual gold bars are stored separately from other gold in the UAE in internationally accepted vaults.

CGO token holders are entitled to convert their tokens into physical gold. Any investor holding coins equal to 1 kg or more of gold can cancel their tokens for gold equivalent in increments of 1,000 tokens (1 kg gold). Similarly, 1,000 CGO coins can be redeemed for an actual gold ingot of 1 kg of gold. Gold tokens are issued with an approved digital custodian. The custodian will maintain records to provide accountability and track review of all transactions in the user’s wallet. A reputable audit firm conducts a regular audit to match the pending supply of CGO tokens and submits an audit report by the custodian on the physical quantity of gold to ensure that the physical gold reserve exactly matches the outstanding supply of CGO tokens. Both of these audited reports are available on ComTech gold website To maintain complete transparency.

About CGO Token

ComTech Gold is built on the XDC Network, the world’s first hybrid blockchain. It connects both state and private subnets, protects user data while remaining transparent and auditable, and helps companies strengthen their business infrastructure, reduce costs, and improve visibility. With interoperable smart contracts, near-zero transactions, and high security, it is designed to support a wide range of new blockchain use cases. The CGO . symbol It follows the standard XRC20 protocol, and all transactions operate according to the rules of smart contract established by the XDC Network.

The total supply of CGO is 121 thousand (i.e. 121,000) tokens. Listed on the LBank Exchange at 19:00 (UTC+8) on August 15, 2022, investors interested in investing in ComTech Gold can buy and sell the CGO token on the LBank Exchange now. Listing the CGO token on the LBank Exchange will undoubtedly help it further expand its business and attract more interest in the market.

Learn more about CGO Token:

Official Website:

About LBank

LBank is one of the best cryptocurrency exchanges, established in 2015. It offers specialized financial derivatives, specialized asset management services, and secure cryptocurrency trading to its users. The platform accommodates more than 7 million users from more than 210 regions worldwide. LBank is a cutting-edge growing platform that ensures the safety of users’ funds and aims to contribute to the global adoption of cryptocurrencies.

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LBK Blockchain Company Limited
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