The future is looking a bit more golden for CORO Global.
The company – and its gold trading app – just expanded its reach in the United States with the addition of a license to operate in Alabama.
The Alabama Securities Commission on Tuesday (Nov. 3) granted the Miami-based CORO a money transmitter license, giving it a green light to do business in the state.
The license approval comes along with a rise in gold prices amid anxiety over the election and a spike in coronavirus cases across the country. The precious metal has long been seen by enthusiasts as a hedge against uncertain times.
CORO’s app is all about gold. App users can trade in U.S. dollars for gold, save it up or send it to other users through Coro’s app.
With the approval in Alabama, CORO is now available in the Apple App Store and Google Play store to residents in 13 states: Florida, Alabama, Arizona, Arkansas, Alaska, Delaware, Idaho, Montana, Massachusetts, Oregon, South Carolina, Washington State and Wisconsin.
“People need to know their money is safe, and at the moment, traditional financial institutions and Wall Street aren’t all that reassuring,” said J. Mark Goode, CEO of CORO Global, in a press release. “Even if people know about the benefits of gold, they may not know how to actually use it as money – that’s why we’ve made it as easy as downloading an app.”
CORO says its app is designed to fend off cyberattacks through the use of hashgraph distributed ledger technology (DLT).
The FinTech also recently inked a deal with Dillon Gage, a big player in the world of precious metal trading.
The Florida FinTech says the agreement means its customers’ gold accounts “are matched by their equivalent in physical gold, which is audited and securely stored by the International Depository Services Group, a wholly-owned subsidiary of Dillon Gage.”
CORO’s sales pitch leans heavily on the idea of gold as a safeguard against uncertain times, with recent press releases highlighting Alabama’s rising unemployment rate, wildfires in the state of Washington and an $800 million budget gap in the District of Columbia.