The Universal Protocol Alliance, an umbrella organization for various blockchain companies including Bittrex Global, Certik, Ledger and Uphold, announced that InfiniGold, issuer of a government-backed gold token for a public blockchain, has joined with member Silicon Valley Investment firms Hard Yaka and Fifth Era. This was reported to Cointelegraph in Spanish through a statement.
At the same time, The UP Alliance officially announced its new chairman Matthew Le Merle, co-founder and managing partner of Fifth Era, Keiretsu Capital and Blockchain Coinvestors;; a decentralized venture capital fund for accounting. He is an expert in business growth, innovation and transformation.
“I am very excited to join the UP Alliance as chairman, especially at this time of so many opportunities. Now is the time when the promise of blockchain technology is finally crystallizing into significant institutional acceptance, and there is a growing one Understanding its enormous potential to transform the world’s financial services, ”said Le Merle.
Via InfiniGold and Universal Gold Token
InfiniGold is a new member of the UP Alliance, which enables investors to buy, sell and hold physical gold stored at The Perth Mint gold refinery in digital format.
The company aims to democratize investing in gold by overcoming traditional drawbacks. Your GoldPass digital certificates represent physical gold that is government sponsored.
“”GoldPass certificates support every Universal Gold Token [UPXAU], the youngest and most successful ERC20 stablecoin from the UP Alliance, representing 1 troy ounce (31.10348 grams) of pure gold that is stored in the Australian Perth Mint”, You detailed in the statement.
“We are very excited to join the UP Alliance and support its goal of achieving massive and widespread adoption of blockchain technology,” said Jon Deane, CEO of Infinigold. And then he said, “The industry needs this type of technology to build trust and transparency, and the platform that the alliance has built should help drive adoption and benefit.”
Another important new member of the UP Alliance is Hard Yaka, the investment vehicle of Silicon Valley investor Greg Kidd. “Finally, a new form of value that, unlike gold or Bitcoin, generates more positive than negative external effects,” said Greg Kidd.
Launch of two new tokens
It is planned that the UP Alliance will launch two new tokens on December 1st and 8th, 2020.
Via the Universal Protocol Alliance
The vision of the Universal Protocol Alliance is that every asset class is digitized and tokenized.
“We are a coalition of like-minded cryptocurrency companies and blockchain pioneers including Bittrex Global, CertiK, Fifth Era, Hard Yaka, InfiniGold, Ledger and Uphold,” they said.
“We know how practically any asset can be symbolized and justified in a transparent way. Our mission is to build the world’s leading tokenization platform and usher in a new era in finance, ”they concluded.
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