MELBOURNE, Australia, Sept. 19, 2022 (GLOBE NEWSWIRE) — MRHB.Networka decentralized halal financial ecosystem, partnered by Gold and Silver Standard (GSS), part of the Ainslie Bullion Group, a leading Australian bullion trader since 1974, and will list the 100% bullion-backed GSS Gold Standard ($AUS) and Silver Standard ($AGS) tokens in MRHB’s Sahal wallet.
The partnership with Gold & Silver Standard will bring a new Halal offering to MRHB’s ethical community – Gold and Silver tokens with pairings of $AUS and $AGS to $USDC/USDT will be made available TijarXthe upcoming commodity DEX integrated into MRHB’s Sahal wallet, which will be launched at the end of September.
“MRHB is very proud to partner with Gold & Silver Standard from the Ainslie Bullion Group,” says MRHB’s CEO Naquib Mohammed. “Stablecoins backed by gold and silver bullion will be a great addition to our DeFi offering. In these times of “crypto winter” and global recession, when people are finding ways to protect their wealth from volatile markets and inflation, gold and silver are said to be the safest hedge against the situation and a stable form of wealth storage ever since 1500 BC Chr.”
Naquib adds, “We are more than confident that the partnership will be welcomed by our investors and the ethically concerned community as crypto market volatility is one of the main reasons for keeping potential new entrants out of the ecosystem. Due to the benefits of tokenization and borderless trading available on TijarX DEX, investors can buy the cheapest gold and silver in the world, even in small amounts.”
For Gold & Silver Standard this means that their gold and silver bullion backed tokens, the best-selling in Australia, will now be made much more accessible, not only to the Islamic finance investment community, but also to the broader global crypto and web3 community.
“We are excited to bring our gold and silver standard stablecoins to previously excluded communities through our partnership with MRHB,” Comments Paul Engeman, Director of Gold & Silver Standard and Ainslie Bullion, Brisbane, Australia. “We are confident that Gold & Silver Standard’s Australia-based vault is one of the safest places in the world to store bullion and protect token value. Bullion-backed cryptocurrencies are growing in popularity around the world, and we look forward to solidifying our goal of being the #goldsilverstandard of the Metaverse.”
Stablecoins are known to be safe investments against the generally volatile backdrop of cryptocurrency markets. A research report of Social Science Research Network found that gold-backed stablecoins are less volatile than Bitcoin. Actually data from Arcane Research shows that gold-backed tokens have experienced massive growth in 2022 with a market cap of over $1 billion.
The gold and silver standard tokens will be provided in AUS-USDC/USDT and AGS-USDC/USDT pairings, allowing all MRHB users to safely invest in gold and silver with US dollar-backed stablecoins. Each AUS and AGS token holds exactly one gram of gold or silver bullion physically located in the Reserve Vault in Brisbane, audited quarterly by global insurance company PKF and insured by the world’s leading insurer.
In early September this year, the MRHB team visited Ainslie’s headquarters in Brisbane to personally ensure the technical and physical infrastructure of GSS.
“Gold & Silver Standard outperforms its competitors, making it the ideal choice for investing in real gold and silver. They are fully redeemable for metalindependently verified, fully allotted with direct legal ownership, available for trading 24/7 and brought to you by a nearly 50-year-old precious metals dealer who is independent from governments and financial institutions and is based in geopolitically safe Australia,” Engeman said.
As part of the partnership, MRHB and GSS will create multiple Gold and Silver backed crypto offerings in a 3-year roadmap.
MRHB.Network is a halal decentralized finance platform built to embody the true spirit of “ethical and inclusive DeFi” by following faith-based finance and business principles where all excluded communities can benefit from the full empowerment potential of DeFi.
The diverse team consists of researchers, technocrats, influencers, Islamic fintech experts and entrepreneurs who have come together to ensure that MRHB DeFi takes off in ways that impact society as a whole and essentially bridge the gap between faith-based communities and the blockchain bridges world.
About gold and silver standard
founded in 1974, Ainslie Gold Barsparent company of Gold and Silver Standard, is one of Australia’s oldest and largest bullion dealers. In 2019, they launched their Gold Standard and Silver Standard cryptocurrency tokens, which allow investors to buy tokens backed by gold and silver bullion 24/7, safe in the knowledge that their investments are locked away safely in a secure vault, operated by an established precious metals expert a geopolitically safe country.
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