MRHB and Gold & Silver Standard (GSS) Partner to Expand Halal DeFi Offerings with Tokenized Precious Metals
October 05 2022 - 10:00AM
JCN Newswire
MRHB.Network, a halal decentralized finance ecosystem, partners
Ainslie Wealth's Gold & Silver Standard (GSS), a leading
Australian bullion trader since 1974, and will be listing the GSS
gold standard ($AUS) and silver standard ($AGS) tokens in MRHB's
Sahal wallet.
The partnership with Gold & Silver Standard will provide to
MRHB's ethical community a new halal offering - gold & silver
tokens with $AUD and $AGS to $USDC/USDT pairings made available on
TijarX, the upcoming commodities DEX integrated in MRHB's Sahal
Wallet, which will be launched in late September.
"MRHB is very proud to be partnering with Gold & Silver
Standard from Ainslie Wealth," says MRHB CEO Naquib Mohammed. "Gold
and silver bullion-backed stablecoins will be a great addition to
our DeFi offerings. 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 supposedly
the safest hedge against the situation, and have been a stable form
of storing wealth since 1500 BC."
Naquib adds, "We are more than confident that the partnership will
be welcomed by our investors and ethics concerned community, as the
volatility of the crypto market is one of the main reasons keeping
potential new entrants out of the ecosystem. Due to the benefits of
tokenization and borderless trade possible on the TijarX DEX,
investors will be able to buy the cheapest gold and silver in the
world, even in small amounts."
For Ainslie Wealth, parent company of Australia-based bullion
dealer Ainslie Bullion, this means that their gold and silver
bullion-backed tokens will now be made much more easily accessible
to not only the Islamic Finance investment community but the wider
crypto and Web3 community.
"We are excited to bring our gold and silver standard stablecoins
to previously excluded communities through our partnership with
MRHB DeFi," comments Paul Engeman, Director of Gold & Silver
Standard, Brisbane, Australia. "We are confident that Ainslie
Wealth's Australia-based vault provides one of the safest places in
the world to store bullion and safeguard token value.
Bullion-backed cryptocurrency has been growing in popularity
worldwide, and we look forward to cementing our goal of being the
#goldsilverstandard of the metaverse."
Stablecoins are known to be secure investments against the
generally volatile backdrop of the cryptocurrency markets. A
research report by the Social Science Research Network found
gold-backed stablecoins to be less volatile than Bitcoin. Indeed,
data from Arcane Research shows that gold-backed tokens have seen
massive growth in 2022 with a market cap that has surpassed USD1
Billion.
The gold and silver standard tokens will be made available in
AUS-USDC/USDT and AGS-USDC/USDT pairings, allowing all MRHB users
to safely make gold and silver investments using US dollar-backed
stablecoins. Each AUS and AGS token is linked to exactly one gram
of gold or silver bullion, present physically in the Ainslie Vaults
of Melbourne and Brisbane, and audited quarterly by Australia's
leading auditing firm.
In early September this year, the MRHB Team visited the HQ of
Ainslie in Brisbane to personally ensure the technical and physical
infrastructure of GSS.
"Gold and Silver Standard outperforms its competitors, making it
the ideal choice for investing in real gold and silver. They are
fully redeemable for metal, independently audited, fully allocated
with direct legal ownership, available to trade 24/7 and brought to
you by a nearly 50-year-old bullion dealer, independent of
government and financial institutions and domiciled in
geopolitically safe Australia," said Engeman.
As part of the partnership, MRHB and GSS will be creating multiple
Gold & Silver backed crypto offerings in a 3-year roadmap.
Aimed at onboarding the USD 3 trillion Islamic Finance sector into
cryptocurrency investing, MRHB DeFi's Sahal Wallet ensures that all
listed tokens in the wallet are halal, and needs to have gone
through a rigorous screening process.
About MRHB.Network
MRHB.Network is a halal, decentralised finance platform built to
embody the true spirit of an "Ethical and Inclusive DeFi" by
following faith-based financial and business principles, where all
excluded communities can benefit from the full empowerment
potential of DeFi.
The diverse team comprises researchers, technocrats, influencers,
Islamic fintech experts & business entrepreneurs, who came
together to ensure that MRHB DeFi prevails in a manner that will
impact society as a whole, essentially bridging the gap between the
faith-conscious communities and the blockchain world.
About Ainslie Wealth
Ainslie Wealth, parent company of Ainslie Bullion, is Australia's
oldest bullion company. Founded in 1974, Ainslie Wealth has since
grown to become the nation's leading bullion trader. In 2019, they
launched their gold standard and silver standard cryptocurrency
tokens, allowing investors to purchase gold and silver
bullion-backed tokens 24/7 with the confidence of knowing their
investments are safely locked up in a secure vault run by an
established dealer in a geopolitically safe country.
The Gold and Silver Standard: https://goldsilverstandard.com
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Source: MRHB
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