ISTANBUL, Turkey — AgaBullion, an international bullion trading company and one of the most trusted brands in the precious metals market, has signed a partnership agreement with UK-based fintech Aurus to start offering gold-backed tokens in the Turkish market.
AgaBullion serves a wide range of private clients from different industrial sectors offering them full cycle solutions from mining to supplying. The Turkish conglomerate has partnered with Aurus on an exclusive country basis in a bid to expand its wholesale business offerings to retail investors via AurusGOLD (AWG), a blockchain-based digital gold token that now enables anyone to own grams of LBMA-accredited gold in just a few clicks. Whilst AWG is known as the Aurus brand, AgaBullion will offer AWG tokens to their customers as AgaGoldy brand.
“Even before the Covid pandemic, for centuries Turkey has had a huge depth of individual investors in physical gold. We witnessed during the pandemic that it is not easy to access physical gold through retailers. Our aim is to provide the population with an easy to use platform to convert their savings into physical gold in the most efficient manner. This means buying and storing as low as 1 gram of 999.9 of physical gold and physical redemption of the same in a decentralized platform outside of the financial ecosystem. It is an innovative solution that does not exist at the moment. We are delighted to be an exclusive distributor of Aurus products in Turkey and we are looking to expand to other precious metals like Silver and Platinum in the future.” said Gökhan Yilmaz, Vice Chairman and CEO at AgaBullion.
“We identified AgaBullion as the perfect partner to penetrate the Turkish market. AgaBullion is an approved member of Borsa Istanbul, offering the infrastructure, market knowledge and network of clients for us to further expand the usability of digital gold and other precious metals in Turkey.” said Mark Gesterkamp, Director of Business Development at Aurus.
AurusGOLD (AWG) is a gold-backed token that is minted and distributed by precious metals dealers using a blockchain-based solution powered by Aurus. Each AWG token is backed by, and redeemable for 1 gram of 99.99% LBMA-accredited gold, stored in fully insured and audited vaults. AurusGOLD is now available on AgaBullion’s website and customers can store their digital gold in Ethereum-compatible cryptocurrency wallets.
AgaBullion is an international bullion trading company that provides full-cycle solutions for the precious metals industry, from assaying and logistics to bullion trading, sourcing, refining and vaulting services. AgaBullion is an approved member of Borsa Istanbul, Precious Metals Market and licensed by the Ministry of Treasury and Finance.
Aurus is a UK fintech company that is empowering the traditional precious metals industry with innovative blockchain-based solutions that facilitate ownership and enhance the usability of gold, silver and platinum. Aurus is building a global network of brokers, exchanges and distributors that interact with the Aurus protocol to tokenize precious metals and offer cutting-edge digital products and services to individuals and institutions around the world.