Tag: gold

Fintech Company Coro to Launch Gold Payments App as it Prepares for Nasdaq Listing

Coro Global Inc. CEO J. Mark Goode

By John Jannarone

For most investors, the only sensible ways to own gold are to buy ETFs like SPDR Gold Shares (ticker: GLD) and iShares Gold Trust (ticker: IAU) or perhaps put coins and bars in a safe. But none of those options can help turn gold into a currency that’s convenient for payments.

Soon, gold payments will become much easier thanks to Coro Global Inc., which currently trades on the OTCQB (ticker: CGLO) and expects to soon begin trading on Nasdaq (ticker: CORO). Coro plans to launch an app on August 1

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How Kingold Jewelry’s fake gold bars slipped through scrutiny in one of China’s biggest loan scams

The scandal involving Nasdaq-listed Kingold Jewelry, one of China’s largest jewellery makers, has raised eyebrows in China’s business community as company officials and bankers feel the heat from the fallout.

The company was alleged to have used 83 tonnes of fake gold bars, or gilded copper, as collateral to secure 20 billion yuan (US$2.83 billion) of loans from onshore lenders, Caixin reported on June 29, describing it as one of the largest gold loan fraud cases China has ever seen.

The amount is equivalent to about 22 per cent of China’s annual gold output in 2019. If they were real,

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