As part of the Foundation’s strategy to build a stronger presence in the Blockchain ecosystem, an MOU has been signed with Jupiter Chain to allow for interoperability of both HGT and JUPT tokens. This is a great news for HGT holders, as it gives a new way to make use of their tokens while comforting HGF’s role as a key player on the South East Asian blockchain scene.
Joint Press Release of HGF and Jupiter Chain:
Southeast Asian fintech HelloGold and Smart Consentable Data Exchange Jupiter Chain makes their tokens interoperable
SINGAPORE, 11th July 2018 — Southeast Asian fintech investment platform HelloGold and Jupiter Chain (“Jupiter”), a smart consentable data exchange, will make their HGT token and the 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.
Jupiter utilises 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 accepts the token, while providing crypto investors with the ability to switch to a physical gold account via the HelloGold platform.
Jupiter CEO Daphne Ng commented, “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.”
Robin Lee, CEO and co-founder of HelloGold said, “Gold is a traditional store of investment and savings, notably in Asia, which represents 70 per cent 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 optimise trade and cash flow.
About Jupiter Chain
Jupiter Chain is a global network that connects local economies and providing a gateway for underserved economies to gain access to first world services. It is a decentralized, consentable data exchange that provides valuable and tradeable data assets. Over time and using AI/ML to analyse consentable data, the network is able to define a person’s credentials and needs, in order to tailor precise financial services and solutions that help alleviate poverty and improve quality of life. Jupiter Chain is powered by the team behind JEDTrade.
Founded in 2015 and launched in Malaysia in 2017, HelloGold creates simple and accessible Gold products for everyone. It built the world’s first Shariah compliant gold digital application that changes the way people buy and sell fully allocated investment grade gold. HelloGold believes that Gold protects savings and has made it their mission that everyone should have access to it in an affordable and secure way.