New Stablecoins Backed by Gold and Silver Emerge

[Kargai]

I like cryptos and I like gold and silver so this project catched my eyes

Bitcoin and altcoins aren't legal tender in the vast majority of the world. Quintric is trying to change that by issuing legal cryptocurrencies backed by silver and gold.

 

Basically it's something similar to Tether or the new True Tether, both are offering price stability characteristics based on the US $. Quintric want to do the same with physical matters like gold and silver. Their tokens will be called "Quints" : Quint will be backed by US gold and QuintS by US silver, while iQuint and iQuintS will be dedicated to the international.

Tether is based on the US dollar, meaning there is no preservation of your purchasing power. If the dollar go down (like it's almost always the case on the mid-long term), your coins go down too. That will not be the case with Quintric who will act like physical gold and silver, both are usually used to preserve that same purchasing power.

All the informations on their website : https://quintric.com/

The interesting thing will be to see how they'll can manage the legal aspects of their project, not everyone in the US is legally allowed to issue their own digital currency, regardless of what it is backed by.