Sharia-compliant stablecoins meld technology, precious metals and ethics.
It may sound like risk-off overkill, but if you wanted to take a belt-and-suspenders approach to protecting some of your savings from inflation and the risk of collapsing financial markets, you might look for an asset that combines the historical acceptance of precious metals with blockchain ownership verification and maybe wrap it up in a stablecoin packaged by a company committed to ethical investing, just to be ridiculously safe.
MRHB.Network plans to offer Gold & Silver Standard (GSS) bullion tokens to investors around the world with a razor-thin 0.03% transaction fee. Each token is worth 1 gram of precious metal, and investors can buy in increments of 1/18. There’s no floor for the first week, so avid but timid gold investors can get their feet wet for as little as $3, based on the metal’s recent price of about $1,660 an ounce ($53 a gram). After that, there will be a $10 minimum purchase, still less than a quarter gram, as opposed to the 10 ounces that’s the smallest usual size for bullion and physical coins.
The tokens represent physical metals held in a vault by GSS, a unit of Ainslie Bullion Group, in Melbourne, Australia, and they are stablecoins by definition, since they are linked to specific amounts of gold and silver. They differ from most major stablecoins, which are usually tied to the U.S. dollar. The minute initial investment and scant fee make a small allocation to gold…
