Medadyn Partners With BGC International Holdings For Billions In Verifiable Gold To Back Cryptocurrency Transactions
LOS ANGELES, March 8, 2018 /PRNewswire/ -- Medadyn, a cryptocurrency company focused on revolutionizing the way projects are financed within the media industry, has partnered with BGC International Holdings, a new global fund that backs cryptocurrencies with physical, verifiable gold.
Medadyn will leverage a portion of the gold owned by BGC International to back its MDA cryptocurrency transactions, which will be used to finance media, music, entertainment and merchandising projects on its platform. Though the token itself is a utility token and can be used for a variety of purposes, these gold-backed transactions will be compliant with appropriate Security Exchange Commission guidelines, as well as other global regulatory requirements.
"The Medadyn ecosystem is a better implementation of a process that's existed for generations: asset backed lending," said Robert Shippey, Chairman and Managing Director of BGC International. "When pairing these finance transactions with physical gold, it provides an undeniable value add for individuals and institutional accredited investors." Mr. Shippey, a veteran banking executive, was previously the Chairman of Reedeux Media, the parent company of Medadyn. He resigned his position to leverage relationships in both the Gulf Cooperation Council (GCC) and Asia to create this new global fund and take advantage of what his team sees as an opportunity to bring a new level of innovation to the cryptocurrency market.
"I'm excited to provide our contacts in the Gulf states with an opportunity to be part of this incredible project," said Rafik Kaddoura, BGC International's GCC Managing Director. "BGC International will provide opportunities for our sovereign fund partners that will be unique in global financial markets."
"This signals the next generation of cryptocurrencies that are tied to assets," said Medadyn CEO Federico Pacquing. "The principals in BGC International have a proven track record in the financial and gold markets. This partnership will give their sovereign fund and institutional investment partners assurance backed by the stability of a gold investment with a strong potential upside."
Medadyn recently delayed its March ICO until May of 2018 to ensure compliance with shifting global regulations within the cryptocurrency market. Further, given its unique positioning, it gives the company time to further develop key relationships like BGC International, which will ensure long-term viability of the utility token.
Medadyn, a wholly-owned subsidiary of Reedeux Media, Inc., is a new, revolutionary utility token specifically designed for use in the media and entertainment industry. The Medadyn MDA token's initial use is to provide accredited investors and financial institutions a way to seamlessly finance media projects and broadly market these projects globally. This automation of "asset-backed lending" provides a powerful tool for entertainment, providing new ways to launch projects into the market. In future months, the MDA utility token will be used within the Reedeux platform for purchases of products within television programs, business-to-business transactions between producers and merchandising manufacturers, and even peer-to-peer transactions. For more information, please visit www.medadyn.com or contact [email protected].
About BCG International Holdings
BGC International Holdings is a global fund focused on the convergence between cryptocurrencies and physical assets. Led by a team of industry experts, BGC International plans to open offices in Dubai, Hong Kong, New York and Los Angeles within the coming year. For more information, please visit www.bgc-international.com or contact [email protected]