African Based Apollo Fintech launches Gold backed stablecoin
African and US based Apollo Finech has announced the sale of Gold Secured Currency (GSX), a gold and asset-backed stable growth coin that combines the features of a stable coin, cryptocurrency, and investment coin, all into a single secured asset. GSX is the first redeemable stable coin that increases in asset value as new assets are added to the trust that backs it. Gold Secured Currency or GSX is one of the first stable coins to reward its holders with annual dividends.
“GSX is the ultimate crypto investment because it mixes a stable asset value with growth,” says Stephen McCullah, CEO of Apollo Fintech. “When you add dividends on top of this, it creates a product that has never been offered before.”
GSX’s issuing company, Apollo Fintech, claims to be the first blockchain company to successfully implement database sharding, a previously theoretical technology that achieves true blockchain sustainability. It is also claims to be the first company to build and sell a complete e-government platform, including a National Currency Platform capable of hosting a national currency. Among other notable accomplishments, Apollo Fintech will also launch Stratus in Q3 2020, the world’s most expansive social network ecosystem.
The way Gold Secured Currency works is 25% of the transaction fees from a number of Apollo Fintech’s products go directly to buying gold and gold-rich land to back GSX. All increases in this gold and land value will be tracked and displayed, so owners of GSX can watch as its asset value consistently grows.
Outside of Apollo Fintech’s software and financial products, the biggest element growing the value of GSX is Apollo Fintech’s multi-billion-dollar, 3,000+ acre Platinum, and Gold mining claim. Not only will the precious metal-rich land back GSX, 50% of the gold and precious metals mined there, after expenses and growth, will back GSX. Raising its value as gold and other precious metals are mined and refined there.
All GSX holders will be legal owners to this multi-billion-dollar claim, as well as the mine built, the companies that run it, and all assets within the company, such as its future refinery. The rights to these companies and all land are held by a trust, giving holders legally binding ownership. If an asset is sold within the company, GSX holders are the beneficiary of those proceeds. On top of this, the other 50% of mined resources, after expenses and expansion, will be paid as yearly dividends to GSX holders.
Earlier this year Apollo Fintech was discussing a national currency initiative in Egypt.