Hamilton, Bermuda, Jan. 11, 2019 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- Arbitrade Ltd. (“Arbitrade”) is pleased to announce December’s shipment of gold from SION Trading FZE (“SION”) has been vaulted and secured in Dubai UAE. SION, procurement agent for Arbitrade, continues to increase its gold holdings through SION’s global mine network, via procurement contracts as mentioned in previous press releases. In addition, SION has provided $250 million in credit to facilitate these purchases on Arbitrade’s behalf.
Arbitrade continues to fulfill its commitments to its coin holders by enhancing its gold holdings. Utilizing SION’s procurement network, Arbitrade ensures consistent growth of its precious metals holdings, going above and beyond the $10 billion announced earlier in 2018.
Arbitrade is happy to confirm that it has completed the purchase and vaulting of the additional $3.8m of hallmarked gold bars through SION.
Leonard Schutzman, Chairman and CEO of Arbitrade, commented, “With our alliance with SION, and their gold mining network, we are able to expand our family of precious metals-backed crypto coins.”
A director of SION, Ricky Sanders, stated that, “Establishing a ‘win-win’ business model with our mining clients and Arbitrade ensures consistent growth and value for years to come.”
About Arbitrade Ltd.:
Arbitrade Ltd., a newly established crypto-currency merchant exchange of Intellectual Property (IP) and proprietary software, has unique worldwide licensing potential through strategic partnerships in, but not limited, to the sectors of Financial Retail Sales and Services, Consumer Products, Food and Beverage Companies, Technology, Computer Companies, Media Companies. Arbitrade will operate in all segments of the crypto-currency business, including mining and trading (THE ARBITRADE EXCHANGE) with emphasis on currency mining e.g. Gift Cards, Debit Cards, Money Transfers and Point of Sale Processing.
Arbitrade intends to offer a complete suite of token services which include cryptocurrencies, altcoins, utility tokens, security tokens, asset tokens, reputation/reward tokens, and other dApp coins. The company is partnering with existing global infrastructure to provide the fastest gateway to all trading counterparties in 50+ countries. The integration of ArbitradeX (exchange) with the world’s largest trading counterparties is expected to provide liquidity, price transparency, high quality token/coin offerings, compliance and security through the world’s most recognized and trusted institutions.
About SION Trading FZE:
Established in the United Arab Emirates, Ras Al Khaimah Free Trade Zone, SION's Trade License authorizes Commercial Gold procurement, Trading, and selling. SION utilizes the benefits of the Free Trade Zone to facilitate its Physical gold import / export and procurement business. SION sources precious metals from its founding subsidiary, Scotia International of Nevada, and multiple international clients. SION utilizes world class security companies to provide secured logistics, storage, and vaulting of precious metals. For more information email: email@example.com +1 844 773 7353
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