SEOUL, South Korea--(BUSINESS WIRE)--Bluebird Merchant Ventures Ltd (“BMV”), a London Stock Exchange listed mining company (LSE:BMV) is pleased to announce that it recently received a second tranche of non-dilutive funding from Auric Network Limited, (“Auric”), a Hong Kong based company, as prepayment for gold at a 20% discount to the market price of gold at the time of delivery.
BMV expects a third funding tranche on the week of the 15th, March 2021 that is designated for construction at Geochang (Kochang).
Aidan Bishop, Founding Director at BMV, states, “As investors continue to battle the effects of the global pandemic, demand for gold has unequivocally strengthened and Bitcoin, which is being seen as digital gold, recently climbed to new all time highs. We are excited to be in partnership with Auric Network and Mine Foundation, utilizing a next-generation investment platform with a fully decentralized currency.”
Focused on providing a platform that offers financial inclusion, the tokens issued on the Mine Foundation platform will be directly linked to the delivery of gold from the South Korean mines.
South Korea is one of the world’s largest adopters of cryptocurrency and trades substantial daily volumes on various exchanges. The market capitalization of cryptocurrencies has increased from $400 billion to $1.4 trillion over the last 6 months, with companies like Tesla investing into the space and showing support for this new asset class.
Currently, Auric Network is listed on Uniswap.org, a blockchain-based exchange. To learn more, follow Auric Network on Twitter at @auric_network and BMV at @bluebirdIR