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AgaBullion Launches Gold-Backed Crypto in Turkey

AgaBullion has signed a partnership agreement with UK-based Aurus Technologies to sell gold-backed digital gold in the Turkish market.

Serving a wide range of private clients from different industrial sectors, from mining to procurement, AgaBullion has formed an exclusive partnership with Aurus on a country-by-country basis to expand its business offerings to retail investors through AurusGOLD (AWG), the LBMA-accredited gold-holding blockchain-based token. It offers its tokens to its customers under the name of AgaGoldy.

Gökhan Yılmaz, Vice Chairman and CEO of AgaBullion, said: “Even before the pandemic, Turkey had a tremendous depth of individual investors for physical gold for centuries. We witnessed during the pandemic that it is not easy to access physical gold through retailers.

Our aim is to provide the population with an easy-to-use platform where they can convert their savings to physical gold in the most efficient way. This means buying, storing and transferring as low as 1 gram of physical gold represented by a blockchain-based token that can be physically redeemed in a decentralized platform outside of the financial ecosystem. It is an innovative solution that doesn’t exist at the moment. We are happy to be the sole distributor of Aurus products in Turkey and we aim to work with other precious metals such as silver and platinum in the future.”

Aurus Business Development Director Mark Gesterkamp said: “AgaBullion is an excellent partner to enter the Turkish market. AgaBullion, a member of Borsa Istanbul, offers infrastructure, market knowledge and customer network to expand the availability of digital gold and other precious metals in Turkey.”

Aurus Business Development Director Mark Gesterkamp said: “We identified AgaBullion as the perfect partner to penetrate the Turkish market. AgaBullion, a member of Borsa Istanbul, offers the infrastructure, market expertise and customer network to drastically broaden the availability of gold and other precious metals in Turkey.”

AurusGOLD (AWG) is a gold-backed token minted and distributed by precious metal vendors using blockchain-based solutions powered by Aurus. Every AWG token is stored in fully insured and supervised vaults. 1 gram is backed by 99.99% LBMA certified gold and can be redeemed. AurusGOLD can now be purchased on the AgaBullion website and customers can store their digital gold in Ethereum compatible cryptocurrency wallets.

AurusGOLD available at AgaGoldy

Learn more about Aurus

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