South Korean cryptocurrency The Midas Touch Gold (TMTG) has partnered with digital currency exchange Coinzip.co to offer tokens in the Philippines.
The cryptocurrency token is backed by actual gold reserves in Korea, TMTG said in a press conference in Taguig City.
Under the partnership, prospective investors in the Philippines can buy TMTG tokens on Coinzip.co.
TMTG tokens may be converted into digital gold bars that could then be redeemed in actual gold bars and delivered to an investor’s doorstep.
“TMTG aims for a hyperconnected society and has worked hard to construct an ecosystem that achieves effective values of real assets through decentralized blockchain,” said Nathan Ryu, chief executive officer of Digital Gold Exchange (DGE).
DGE is the platform which allows users to purchase digital gold coins using their TMTG cryptocurrency.
“Through our collaboration with Coinzip.co, we are able to expand our reach to a broader market, providing more users with access to an easy-to-use cryptocurrency exchange where TMTG can easily be bought, sold, or traded,” Ryu said.
As of now, Filipinos may convert their fiat money into cryptocurrency through accredited third-party virtual currency exchanges such as Betur or more popularly known as coinsph, and Rebittance.
Coinzip.co Representative Dennis Orellana said Filipinos can start investing in TMTG for a minimum buy worth P1,000.
“Even as low as P1,000, you can start trading your TMTG,” he said during the press conference. —VDS, GMA News