/UCW/ ZUG, SWITZERLAND – BaselBit AG, leading gold and silver-backed cryptocurrency platform announced today the launch of its Bullion Repository Participation Program, known as BRPP, which creates financial liquidity from high-net assets like precious metals by allowing participants with qualifying assets to collateralize BaselBit3 Special Class eCoin currency. A participant may enroll in the Extended Value Program (EVP) from within the BB3 wallet platform, pledge eligible property as collateral, draw a POPP Letter of Credit against pledged assets and submit their application for approval. Assets ranging from precious metals to super-yachts may be pledged and bound to the program’s framework, enabling program participants the ability to use their assets in a unique reverse mortgage-type payout model, maximizing equity in their property, while the assets remain in the custody of participating bullion repositories and registered asset-galleries. Once accepted, assets secure BaselBit3 Debit Card operations and reconcile on a monthly or quarterly basis.
There are many regulatory hurdles both globally as well as in the U.S. that prevent the use of gold as an everyday currency. Current U.S. legislation, dating back to the Nixon and Roosevelt eras, restrict and make illegal the ownership and use gold as a fiat or wealth form for individuals and businesses. The Extended Value Program is a viable, legally compliant workaround solution for owners of significant physical stores of bullion and other precious assets, who would like to put their represented value back into the retail economy. BaselBit AG’s new BRPP program has the potential to assign hundreds of billions of dollars worth of gold bullion in the U.S. alone. Before the BBRP launch, these assets had no real retail economy for their use. The ability to assign portions or all of their gold or qualifying asset holdings to existing BaselBit3 accounts provides a unique method of returning that gold and other precious assets to the retail economy without regulatory changes. This feature enables program participants to recharge their BB3 wallets with an eCoin that is backed by their own assets while providing flexible and secure purchasing power through an asset-backed BaselBit3 debit card.
“The BRPP is a landmark program, engineered to return the world’s bullion reserves to hard, usable retail currency. BRPP has opened the floodgates, bringing the actual value of bullion and other precious assets, sitting fallow in their respective storage vaults to the commercial economy. Most nations backed away from using hard assets like gold, because of the costs of administering fiat component operations. Now with BaselBit AG’s extended value program, several trillion in static assets, sequestered outside the mainstream economy is back on the table. This program offers nations, businesses and individuals alike, the opportunity to put their gold resources into circulation, directly facilitating retail point-of-sale in the same way the Central Bank system previously operated in the golden years,” said David Richter, SeeWriteHear CEO
For more information on BB3 and BaselBit AG, please visit:
About BaselBit AG:
“BB3” is a secure cryptocurrency backed by tangible gold and silver reserves, used as an effective payment mechanism and credit system globally under MasterCard. BaselBit AG investors holding BB3 eCoin tokens use SSL digital wallets to trade the world’s oldest store of value using the world’s most cutting-edge blockchain- DLT managed cryptocurrency.
About SeeWriteHear Inc.
SeeWriteHear (SWH) is a technology and services company dedicated to improving the usability of information for people with disabilities and special requirements. SWH’s products, software tools, and solutions have been developed for blind and visually impaired individuals worldwide. Governments, corporations, educational institutions, and publishers engage SWH to meet market needs and help successfully comply with federal legislation such as Section 504 and Section 508 of the Rehabilitation Act and IDEA legislation for public schools. SWH has multiple patents for accessibility communications, navigation, and production/printing.
SOURCE: Global Clear Digital Investment Bank & Trust