HelloGold(HGT), an Ethereum-based and gold-backed platform project, announced that its token HGT would interoperate with smart consentable data exchange provider Jupiter Chain’s JUPT token for a seamless access to each platform, according to the press release.
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 enterprise solution to help them optimise trade and cash flow.
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 700K users.
Jupiter CEO Daphne Ng was cited as saying that the 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, he added.
HelloGold’s CEO Robin Lee was also cited as saying that Gold is a traditional store of investment and savings, notably in Asia, which represents 70% 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, he noted.
Through the collaboration, HGT users will be able to access financial services like remittances, which will be provided by Jupiter’s partner in Malaysia.