SANTA CLARA, Calif., May 31, 2018 /PRNewswire/ -- Emergent Technology Holdings LP ("Emergent") is pleased to announce a recent equity investment from Sprott Inc. (TSX:SII) ("Sprott").
The investment by Sprott, a global leader in precious metal and real asset investments, comes as Emergent prepares to launch a technology platform for the gold industry.
Emergent's Responsible Gold™ platform uses blockchain technology to trace the provenance of conflict-free gold from mines, to refineries, and through to vaults. This gold is the foundation of G-Coin™, a digital token backed by responsibly sourced, physical gold.
"Emergent's Responsible Gold platform and G-Coin digital token have the potential to create meaningful value for the gold industry by modernizing and increasing the transparency of the supply chain,'' said Sprott Asset Management CEO, John Ciampaglia. "Emergent has earned the confidence of gold producers and other industry participants whose involvement will be critical to the success of the platform. We are pleased to support this very promising technology."
Emergent's Responsible Gold platform is the only blockchain data network that tracks responsibly sourced gold from its origin to vault. Miners, logistics providers, refiners and vaults use Emergent's mobile application to scan smart chips in tamper-proof seals, automatically recording transfer of custody and other data directly on the Responsible Gold blockchain.
"Investors are increasingly focused on Environmental, Social and Governance compliance and we believe there will be a large and enthusiastic audience for Emergent's Responsible Gold platform," said Sprott Managing Director, Andrew Stronach.
"Sprott is a premier resource investor. They have shown early insight in blockchain investments and we are delighted to be associated with them," said Andrew Parsons, Emergent's Chief Administrative Officer. "Our platform is the first of its kind. It traces responsibly sourced gold from mine to vault and then creates G-Coin tokens, which are digital certificates of title to underlying physical gold, that can be used as a currency around the world. We are redefining the future of gold and are looking forward to Sprott's insight."
Emergent's G-Coin tokens will be available for purchase later this year. The digital tokens represent 100% ownership of, and title to, vaulted conflict-free gold.
G-Coin tokens are available now by invitation only. For inquiries on the upcoming public release, please email [email protected].
About Sprott Inc.:
Sprott is an alternative asset manager and a global leader in precious metal and real asset investments. Through its subsidiaries in Canada, the US and Asia, the Corporation is dedicated to providing investors with best-in-class investment strategies that include Exchange Listed Products, Alternative Asset Management and Private Resource Investments. The Corporation also operates Merchant Banking and Brokerage businesses in both Canada and the US. Sprott is based in Toronto with offices in New York, Carlsbad and Vancouver, and its common shares are listed on the Toronto Stock Exchange under the symbol (TSX: SII). For more information, please visit www.sprott.com.
About Emergent Technology Holdings LP:
Based in Santa Clara, California, Emergent Technology Holdings LP owns and operates Emergent Payments®, the Responsible Gold™ platform and G-Coin™. The company operates in more than 60 high-growth markets across Asia-Pacific, Latin America, the Middle East and Africa. The company will launch G-Coin and the Responsible Gold supply chain in Q3 2018. The blockchain technology and smart contract platform traces responsibly sourced gold from mine, to refinery, to vault, and then digitizes that gold into secure G-Coin tokens for trade around the world.
Emergent Technology Holdings LP Media Contact: Lauren Dickson
+ 1 310 871 2172 / [email protected]
Sprott Inc. Media Contact: Dan Gagnier
+ 1 646 569 5897 / [email protected]
SOURCE Emergent Technology Holdings LP