Gold stockpile backs crypto venture

Tessa DempsterOctober 11, 2018

The path to blockchain and crypto has been an interesting road travelled for Singaporean businessman Wilfred Koh.

In the nineties, he owned two of the largest cult media franchises in the world, the Ninja Turtles and the Power Rangers. But it’s Koh’s extensive gold mining assets across the Eastern European and Central Asia regions that have really delivered him to where he is now.

Koh is preparing to launch his latest venture, KGold, which will see part of his glittering stockpile sold off in a five-round token sale, with the goal of raising US$30 million to reinvent his company’s mining process facilities.

The project aims to bridge the crypto and traditional economies to create a digital currency based on gold.

One token will buy you one gram of gold, according to Koh.

“So we have set aside three million grams of gold, that’s equivalent to three tonne of gold,” he said.

For Koh, crypto and gold are a perfect match and he has faith in their future together.

“Gold is a very solid currency that is used everywhere but cryptocurrency is something that everyone is talking about. I think it’s the future,” he said.Click To Tweet

Indeed, who better to make it rain than the man who once owned some of our favourite nineties action heroes.

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