Jekyll Island Series – Gregor Gregersen: P2P Gold Lending, Bullion, and Physical Crypto Storage
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Gregor has a company in Singapore where individuals can securely store their gold and silver. They just hold your precious metals and validate their authenticity. They do this without counterparty risk as your assets are segregated and not part of their balance sheet.
Using peer to peer lending you can withdraw up to half of your holdings in loans at low-interest rates. For example, if you have $100k worth of gold you can deposit and take out a loan for 50k at around 3.5% interest per year. It allows you to unlock value from your precious metals. His system is a self-adjusting system, and currently, there are more lenders than borrowers. They have done $35 million in loans. P2P lending has been working very well for them, and they see increasing demand.
He says demand this year for physical has been down considerably however it has been picking up recently. He expects demand to continue to improve.
Gregor thinks cryptocurrencies are complimentary to gold and silver because they are outside the financial system. With Bitcoin, you can transfer funds easily, and it is a very liquid form of money. They are also working on a method to securely store your cryptocurrencies in a hacker-proof physical cold wallet inside their vaults.