The UK to launch a Gold-back cryptocurrency

Reuters reports the latest headlines on the crypto markets, citing that the UK’s Royal Mint is planning to launch its own gold-backed cryptocurrency.

Key Details:

One RMG coin is equal to one gram of gold, a digital representation of gold stored in The Royal Mint vault.

It’s called Royal Mint Gold ... or RMG amongst friends.

Meanwhile, Tom Coghill, Commercial Director at Royal Mint and responsible for the business development and sales of RMG, noted: "its real gold you're holding when you're holding our RMG".