IEG Holdings Plans to Create its own IEGH Crypto/Blockchain Currency Backed by Gold Metal and SEC Registration as a Security

IEG Holdings (OTCQB:IEGH) has announced that its wholly-owned subsidiary, Investment Evolution Crypto, is negotiating to purchase a gold project with gold metal in the ground and prospecting licenses.
As quoted in the press release:

IEG Holdings plans to utilize a gold resource to investigate creating, through Crypto, and a joint venture with Investment Evolution Corporation, also a wholly owned subsidiary of IEG Holdings, its own gold metal-backed crypto/blockchain currency, and potentially offer loans and accept loan repayments in its own crypto/blockchain currency. Crypto has not begun material operations and is in the development planning stages to explore these crypto/blockchain opportunities in this time of changing technology. Prior to launching these plans, Crypto will investigate the legalities and economic risks and benefits of its plans. Any crypto currency offering will be registered with the Securities and Exchange Commission (“SEC”).
Paul Mathieson, IEG Holdings’ Chairman and Chief Executive Officer, said, “Unlike Bitcoin, Ripple, Ethereum and Litecoin etc., IEGH’s crypto currency is planned to be backed by gold metal and registered with the SEC as a security. We believe potentially combining the exciting new blockchain technology with the hard asset of gold metal, expected SEC registration, a leading sophisticated online consumer finance system and individual US state lending licenses is a very exciting proposition. In addition, we believe the future leaders of the crypto/blockchain sector will be companies that are materially compliant with all the existing and future related US government legislation. We aim for IEGH to leverage off its existing fintech business credentials, specifically its extensive experience in online consumer loans, to potentially be a key player in the crypto/blockchain sector.”

Click here to read the full press release.