VeraOne’s Gold-Backed Stablecoin Reduces Investor Risk in Fearful Times

In 1912, J.P. Morgan testified before Congress that “Gold is money; everything else is credit.”

A century later, that holds true as a pandemic recession has pushed gold prices near historic highs of $1,900 per ounce. That represents a 23% increase year-to-date. 

The shiny metal was used for commerce in the Bronze Age 5,000 years ago. Many societies have considered gold as God’s money. The cryptocurrency revolution is combining fintech innovation with a timeless asset.

VeraOne (VRO) gives traditional investors and crypto adopters the ability to own a gold-backed ERC20 stablecoin. Each VRO is backed by one gram of LBMA-certified gold (London Bullion Market Association). This gives anyone, anywhere access to the world’s most precious metal which protects capital and gives peace of mind in times of health crisis, inflation or economic upheaval.

VRO: Tokenizing Gold for Tech-Savvy Crypto Investors

Cryptocurrencies revolutionize how money works. They’re non-sovereign and secured by blockchain ledgers. And they make 24/7 payments possible through borderless and frictionless transactions. However, the crypto Wild West is fraught with risk, and digital coins and tokens can become volatile and/or unstable. 

VeraOne eliminates such risk by turning to the most reliable store of value and medium of exchange in history: physical gold.

VROs are physically backed by gold ingots (bars) placed in secure vaults in Geneva, Switzerland. Frequent audits are conducted to prove possession and ownership. AuCOFFRE.com and VeraOne own complete fund reserves and use an independent audit to prove that the operation has custody of the entirety of funds.

Anti-Inflationary Money

Like Bitcoin, gold is anti-inflationary because of extremely limited supply. Continuous strong global demand puts upward pressure on price. This benefits gold investors who seek a safe haven for wealth.

For example, 30 years ago gold was trading at nearly $450 an ounce. The stock market may have performed better during the same period, but gold is virtually risk-free as an investment while giving owners steady returns over time that most assuredly transfers generational wealth to beneficiaries such as children and grandchildren.

Like cryptocurrencies, gold is also non-sovereign. It cannot be inflated by governments or central banks. 

By their nature, fiat currencies are controlled by deficit-spending politicians and bureaucrats. Throughout history, governments have always maintained a monopoly of the paper cash supply with rare and brief exceptions. But their track record is alarming: Over the centuries, hundreds of sovereign fiat have become worthless, destroying retirement savings and lives in the process.

Kings, emperors, and presidents are routinely replaced, which means their monetary policies change with the geopolitical wind. People’s love of gold, however, is enduring.

Stablecoin Backed by Stored Gold

VeraOne’s counterpart is 100% guaranteed. For each VRO issued, there is one gram of gold bought simultaneously. LBMA-certified foundries are the only kind with which VeraOne works.

VROs are backed by real, physical gold stored in highly-secured vaults in Geneva. The gold reserves are entirely yours, and an audit is conducted twice every year to ensure all customers’ holdings are present. 

AuCOFFRE.com brings 10 years of experience in vaulting and storing gold. Tokenizing gold as a currency is VeraCash’s expertise, and VeraOne takes that concept one step further by making gold a stablecoin.

A gold stablecoin keeps central banks and governments honest. Quantitative easing destroys the long-term value of fiat currency by increasing prices of goods and services. When they artificially print more fiat, gold owners benefit through higher valuations of the precious metal.