The token, dubbed OneGram is backed by gold – the physical kind – which is safely kept in a vault. As you may have surmised from the name, each token is backed by one gram of gold. With the Shariah-cryptocurrency being tied to something as stable as gold, the element of uncertainty and volatility is somewhat lessened.
It is listed on Huulk, OneGram’s virtual exchange and is currently paired for trading against Bitcoin. According to chief executive Ibrahim Mohammed, they have plans to add pairings to other hard currencies.
While the company is based in Dubai, OneGram has global presence. They have affiliates across the Middle East, in Asia, Europe, and Africa. If you’re interested in investing in this Shariah-compliant cryptocurrency, learn more here.