Notice: Function _load_textdomain_just_in_time was called incorrectly. Translation loading for the hreflang-tags-pro domain was triggered too early. This is usually an indicator for some code in the plugin or theme running too early. Translations should be loaded at the init action or later. Please see Debugging in WordPress for more information. (This message was added in version 6.7.0.) in /var/www/wp-includes/functions.php on line 6121
[www-stage.newsbtc.com/news/uks-royal-mint-create-gold-backed-cryptocurrency/]
[wp-includes/functions.php:6121 trigger_error(), wp-includes/functions.php:6061 wp_trigger_error(), wp-includes/l10n.php:1371 _doing_it_wrong(), wp-includes/l10n.php:1409 _load_textdomain_just_in_time(), wp-includes/l10n.php:195 get_translations_for_domain(), wp-includes/l10n.php:307 translate(), wp-content/plugins/hreflang-tags-for-wordpress/includes/variables.php:24 __(), wp-content/plugins/hreflang-tags-for-wordpress/hreflang-tags-pro-main.php:45 include_once('wp-content/plugins/hreflang-tags-for-wordpress/includes/variables.php'), wp-content/plugins/hreflang-tags-for-wordpress/hreflang-tags-pro.php:40 require_once('wp-content/plugins/hreflang-tags-for-wordpress/hreflang-tags-pro-main.php'), wp-settings.php:545 include_once('wp-content/plugins/hreflang-tags-for-wordpress/hreflang-tags-pro.php'), wp-config.php:53 require_once('wp-settings.php'), wp-load.php:50 require_once('wp-config.php'), wp-blog-header.php:13 require_once('wp-load.php'), index.php:17 require('wp-blog-header.php')]

UK's Royal Mint Creates Gold Backed Cryptocurrency
NewsBTC
No Result
View All Result
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Breaking News: Coinbase Confirms DOJ Investigation Following Major Security Incident
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Bitcoin News
No Result
View All Result
Breaking News: Coinbase Confirms DOJ Investigation Following Major Security Incident

UK’s Royal Mint Creates Gold Backed Cryptocurrency

Rick Delafont
Rick Delafont
7 years ago
2 mins read

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

The body responsible for providing the UK with all the physical money they have in circulation, the Royal Mint, have launched their own cryptocurrency. It’s called Royal Mint Gold (RMG) and the idea behind it is to provide a safe, secure, cheap, and convenient way for people to hold gold as an investment.

In an interview with the UK’s Express newspaper, Tom Coghill of the Royal Mint’s RMG sector stated:

“We already sell physical gold through our Royal Mint Bullion business and we sell coins and bars. In this sense what we’re doing here is simply making that a digital business and allowing for our clients to be able to hold gold for the first time on a blockchain basis. The difference between what we’re doing and what other crypto digital assets is that we’re a physical tangible asset. One gram on our blockchain represents one gram physically in our vault. So it’s real gold you’re holding when you’re holding our RMG.”

Essentially, what the Royal Mint are doing is storing gold for people and tracking who owns it using a blockchain. It’s really not all that revolutionary.

Coghill went on to trot out a tired argument that many gold bugs rely on when defending the value proposition of the planet’s most widely regarded precious metal. For him, the fact that people have been using gold to store value for over 6,000 years makes it a better investment than Bitcoin or other cryptocurrencies. However, what seems strange is that RMG provides a way for folk to “own” gold but the Royal Mint remain the custodian of the bullion. Many who want to invest in gold do so because they fear a massive breakdown in society would render money useless and in which case, gold would be a suitable tool for barter in the place of cash. In such a scenario, is the Royal Mint really going to dishing physical metal out in exchange for RMG tokens? It seems doubtful…

The UK isn’t alone in their creation of a gold-backed cryptocurrency. In Australia, the Perth Mint claims to be doing something similar. Richard Hayes, the Chief Executive there told the Express:

“I think as the world moves through times of increasing uncertainty, you’re seeing people look for alternate offerings… And you’re seeing this massive flow of funds into the likes of Bitcoin at the moment because people are looking for something outside of the traditional investments.”

 

Tweet123Share196ShareSend
Rick Delafont
Rick Delafont

Rick Delafont

Based in Europe, Rick has written about the cryptocurrency industry since 2016. He was first drawn to Bitcoin as a means of payment but quickly became fascinated by its wider potential implications. His interests lie in the political, economic, and social impact of the unfolding digital asset revolution.

Comments 9

  1. Daxx10 says:
    7 years ago

    G.Old is so unattractive, they’re backing it with a useless coin.
    More fractional reserve scamming.

    Reply
  2. SuperShirtGuy says:
    7 years ago

    If you want gold buy gold, not promises of Gold. The UK is already selling fractional reserves of gold at 10 to 1, now they suddenly are selling more? Go get a bar or necklace or something.

    Reply
    • Peter Watson says:
      7 years ago

      crypto investors want an alternative to tether. GOLDX (HGT) is a perfect alternative. Selling your crypto portfolio for fiat, and then buying gold isn’t the answer or how it works lol.

      Reply
    • Dino Coppola says:
      7 years ago

      couldnt agree with you anymore. isnt this what they done before with the sterling ?

      Reply
    • Marko Novak says:
      7 years ago

      Better buying bitcoin right? Bitcoin is way better than gold backed crypto right? You know what I do when I search for scam free informations? I put -bit -coindesk -newsbtc etc crap in the search bar.. to filter out all the possible bitcoins owning scammers… Bitcoin is a biggest ever scam! One has nothing to loose near selling and buying (and push price higher) within owning millions of coins…

      Reply
      • SuperShirtGuy says:
        7 years ago

        Yet you are on a Bitcoin website still? Everything is a scam if you look at it properly, fiat is backed by nothing, gold is speculative, stocks are all pyramids… Bitcoin is basically the same but it goes up thousand fold in a year… Think about it.
        My statement was if you want Gold to buy actual physical gold. I did not say buy Bitcoin anywhere in my writing. I might say buy IoT Chain or IOTA or something, I love Bitcoin but it will not jump up as fast as those two I just mentioned.

        Reply
        • Marko Novak says:
          7 years ago

          Jump where dreamer?? Wake up Neo you are dreaming!

          Reply
          • SuperShirtGuy says:
            7 years ago

            To the MOON Bro!!

  3. Pav Rabin says:
    7 years ago

    HelloGold (HGT) is what we want GOLDX is the best alternative for tether

    Reply

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Comments 9

  1. Daxx10 says:
    7 years ago

    G.Old is so unattractive, they’re backing it with a useless coin.
    More fractional reserve scamming.

    Reply
  2. SuperShirtGuy says:
    7 years ago

    If you want gold buy gold, not promises of Gold. The UK is already selling fractional reserves of gold at 10 to 1, now they suddenly are selling more? Go get a bar or necklace or something.

    Reply
    • Peter Watson says:
      7 years ago

      crypto investors want an alternative to tether. GOLDX (HGT) is a perfect alternative. Selling your crypto portfolio for fiat, and then buying gold isn’t the answer or how it works lol.

      Reply
    • Dino Coppola says:
      7 years ago

      couldnt agree with you anymore. isnt this what they done before with the sterling ?

      Reply
    • Marko Novak says:
      7 years ago

      Better buying bitcoin right? Bitcoin is way better than gold backed crypto right? You know what I do when I search for scam free informations? I put -bit -coindesk -newsbtc etc crap in the search bar.. to filter out all the possible bitcoins owning scammers… Bitcoin is a biggest ever scam! One has nothing to loose near selling and buying (and push price higher) within owning millions of coins…

      Reply
      • SuperShirtGuy says:
        7 years ago

        Yet you are on a Bitcoin website still? Everything is a scam if you look at it properly, fiat is backed by nothing, gold is speculative, stocks are all pyramids… Bitcoin is basically the same but it goes up thousand fold in a year… Think about it.
        My statement was if you want Gold to buy actual physical gold. I did not say buy Bitcoin anywhere in my writing. I might say buy IoT Chain or IOTA or something, I love Bitcoin but it will not jump up as fast as those two I just mentioned.

        Reply
        • Marko Novak says:
          7 years ago

          Jump where dreamer?? Wake up Neo you are dreaming!

          Reply
          • SuperShirtGuy says:
            7 years ago

            To the MOON Bro!!

  3. Pav Rabin says:
    7 years ago

    HelloGold (HGT) is what we want GOLDX is the best alternative for tether

    Reply

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Related News

Bitcoin, Crypto, BTC

Bitcoin $106,800 Support Retest To Determine Next Move – Breakout Or Breakdown Ahead?

Amid the market’s momentary pause, Bitcoin (BTC) has seen a 2% price drop in the past 24 hours. The largest...

Rubmar Garcia 2 weeks ago
Ethereum Market Outlook: Technical Indicators Signal Possible Continuation of Uptrend

Ethereum Market Outlook: Technical Indicators Signal Possible Continuation of Uptrend

Ethereum (ETH), the world’s second-largest cryptocurrency, has experienced considerable price fluctuations recently, trading at approximately $2,633 at the time of...

Samuel Edyme 2 weeks ago

JUP價格飆升13% Solana生態DeFi與迷因幣掀起六月行情熱潮

Solana生態再次喚起投資者注意,而帶頭的不是別人,正是Jupiter。這枚原本偏向基礎設施功能的代幣,近期因其DEX平台重大升級,價格從0.54美元短時間內拉升至0.61美元,逼近關鍵的200日均...

Kelvin Lee 2 weeks ago
Load More

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Related News

Crypto news FTX repayments

Crypto Markets Brace For $5 Billion FTX Liquidity Shock: Expert

Jake Simmons 2 weeks ago

Đồng tiền điện tử nào có thể bùng nổ vào năm 2025? Phân tích dữ liệu để chọn ra ứng viên sáng giá

Bảo Lê 2 weeks ago
Mystery box football

Mystery box football: gdzie znaleźć najciekawszą paczkę?

newsbtc 2 weeks ago

Premium Sponsors

Top Brands

Press Releases

  • A smart choice for XRP investors to passively earn money...

    2 weeks ago
  • Bitget Lists Ripple USD (RLUSD) to Expand Stablecoin...

    2 weeks ago
  • Bitget Lists Ripple USD (RLUSD) to Expand Stablecoin...

    2 weeks ago
  • Let everyone earn $10,0080 a day – CRYPTOMININGFIRM...

    2 weeks ago
  • Start RIPPLECOIN Mining cloud mining package through...

    2 weeks ago

Newsletter

Be the first to get the latest important crypto news & events to your inbox.

  • This field is for validation purposes and should be left unchanged.

About Us

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Company

  • About Us
  • Advertising
  • Contact Us
  • Privacy Center

Social

© 2025 NewsBTC. All Rights Reserved.

  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play Games
  • Casinos
Advertise

© 2025 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.