The Times Australia
Google AI
News From Asia

.

Knox Wire Announces the Launch of Trustless Gold-Backed Currency

PRETORIA, SOUTH AFRICA - News Direct - 19 April 2023 - Knox Wire, the global payments and real-time financial messaging network, announces plans to launch its trustless gold backed currency, PMBC (Precious Metals Backed Currency).




The new product enables governments, corporations and financial institutions to hedge against the instability of the financial system while at the same time keeping funds extremely liquid. Holding the precious metals backed currency provides an entity with the security of physical metals while being able to instantly convert and send cross-border payments to over 20,000 institutions in nearly 200 countries.

This trustless system will provide users with a secure way to store and send wealth without relying on a potentially vulnerable banking system for storage, settlement or redemption. With this new launch, Knox Wire continues its mission of providing an alternative financial infrastructure to send real-time cross border payments.

The Launch of a Gold-Backed Currency with a Trustless Mechanism

Knox Wire's new gold-backed currency operates on a trustless mechanism, providing reliable value stability as the metals backing PMBC will not be held by the company, but regional, redemptive trusts located globally.

These trusts will be in centralized locations in North America, Europe and Asia. They ensure that no entity is solely reliant on Knox Wire, a potentially vulnerable financial system, or any single company, for redemption. This trustless mechanism can provide users with peace of mind that their assets are always backed one to one, and always accessible.

Setting a New Standard in Financial Security

The issue with traditional gold backed currencies is that gold can be prone to volatility on its own. The way PMBC will work to counteract this volatility is by backing each PMBC with one gram of gold, one gram of platinum and one gram of palladium. Reducing potential volatility by distributing any potential market risk between three of the strongest performing precious metals.

PMBC offers substantial benefits to traditional options, including; immediate liquidity, trustless redeemability, distributed backing, and the security of Knox Wire's immutable, distributed ledger. When combined with the services of Knox Wire, PMBC is a solution that sets a new standard for the usability of precious metals.


Hashtag: #KnoxWire

The issuer is solely responsible for the content of this announcement.

About Knox Wire

Knox Wire is a real-time gross settlement network that combines financial messaging and cross-border payments with local payouts to over 20,000 Financial Institutions (FIs) in nearly 200 countries.

More details about Knox Wire are available on the project's and on the social media pages listed below.

|

Times Magazine

IPECS Phone System in 2026: The Future of Smart Business Communication

By 2026, business communication is no longer just about making and receiving calls. It’s about speed...

With Nvidia’s second-best AI chips headed for China, the US shifts priorities from security to trade

This week, US President Donald Trump approved previously banned exports[1] of Nvidia’s powerful ...

Navman MiVue™ True 4K PRO Surround honest review

If you drive a car, you should have a dashcam. Need convincing? All I ask that you do is search fo...

Australia’s supercomputers are falling behind – and it’s hurting our ability to adapt to climate change

As Earth continues to warm, Australia faces some important decisions. For example, where shou...

Australia’s electric vehicle surge — EVs and hybrids hit record levels

Australians are increasingly embracing electric and hybrid cars, with 2025 shaping up as the str...

Tim Ayres on the AI rollout’s looming ‘bumps and glitches’

The federal government released its National AI Strategy[1] this week, confirming it has dropped...

The Times Features

Sweeten Next Year’s Australia Day with Pure Maple Syrup

Are you on the lookout for some delicious recipes to indulge in with your family and friends this ...

Operation Christmas New Year

Operation Christmas New Year has begun with NSW Police stepping up visibility and cracking down ...

FOLLOW.ART Launches the Nexus Card as the Ultimate Creative-World Holiday Gift

For the holiday season, FOLLOW.ART introduces a new kind of gift for art lovers, cultural supporte...

Bailey Smith & Tammy Hembrow Reunite for Tinder Summer Peak Season

The duo reunite as friends to embrace 2026’s biggest dating trend  After a year of headlines, v...

There is no scientific evidence that consciousness or “souls” exist in other dimensions or universes

1. What science can currently say (and what it can’t) Consciousness in science Modern neurosci...

Brand Mentions are the new online content marketing sensation

In the dynamic world of digital marketing, the currency is attention, and the ultimate signal of t...

How Brand Mentions Have Become an Effective Online Marketing Option

For years, digital marketing revolved around a simple formula: pay for ads, drive clicks, measur...

Macquarie Capital Investment Propels Brennan's Next Phase of Growth and Sovereign Tech Leadership

Brennan, a leading Australian systems integrator, has secured a strategic investment from Macquari...

Will the ‘Scandinavian sleep method’ really help me sleep?

It begins with two people, one blanket, and two very different ideas of what’s a comfortable sle...