Webmoney Goes Gold

Webmoney has recently announced a new “Gold Based” currency added to their existing payment processor system. The new “purse” is a gold based currency and functions as a bridge between Webmoney’s operations as a payment processor, money transmitter and now a digital gold currency (DGC).

From the news on their site…

On the 20 July 2007 WebMoney Transfer System has launched a new type of purse - WMG or WebMoney Gold. This is an approved way of internet payments that has won international popularity. Funds on these purses are backed by gold bullions of 995 standard (purity of 99.5 %). UAE company WM Metals FZE acts as a Guarantor for WMGold. In this case system’s Guarantor (on the agreement with a certified company-storage) also provides gold bullions safety. WebMoney Gold purchase can be made directly by a bank wire using services of metdeal.com site or by WebMoney exchanger wm.exchanger.ru and very soon it will be possible to buy gold via authorized e-currency exchange services. Currency rates inside the System will remain on the same exchange mode as before. So the price for a WMGold unit will be fluctuated in each time period according to demand and supply of the System members, the same as with an exchange rate of other currency equivalents - WMZ, WME, WMR and others.

I personally can’t say enough about the strength of Webmoney and that this addition of a DGC to their system only goes to further broaden their operations. Webmoney is one of my personal favorite digital currencies. For more information on Webmoney, please see….