Loading ...Goldcorp Embracing Digital Gold, Placing 3K Ounces On New Market
Goldcorp (NYSE: GG, TSX: G) announced Thursday that it placed 3,000 ounces of gold, valued at $4 million, in Tradewind Inc.’s newly launched digital market, VaultChain. Tradewind described the investment as the “genesis block,” the first block in a blockchain, representing a tremendous milestone for the technology and the sector.
“Goldcorp will be able to sell gold directly to dealers and banks using the Tradewind platform, expanding access to a new market structure and a highly efficient, electronic pricing and liquidity venue,” the company said in a press release.
“We are excited to be an investor in Tradewind and participate in the launch of VaultChain, a cutting-edge technology that integrates physical gold into a blockchain,” said David Garofalo, president and chief executive officer at Goldcorp. “We believe physical gold stored on a blockchain will increase the utility of the commodity and, ultimately, drive value in the price of gold. We are thrilled to be an early adopter of this 21st century platform and deposit its first bar of gold.”