Toronto, Ontario (PRWEB) September 03, 2015
GreenCoinX Inc, the developer of the world’s first identifiable crypto currency and which has XGC as its digital currency identifier, announces that it plans a Treasury function in order to reduce volatility of XGC.
To be acceptable any crypto currency needs to have a stable price which moves within a relatively small band and time ratio. A currency band will represent the price floor and ceiling within which the price of a given currency can trade. The currency band restricts how much the price can move relative to a reference currency or a basket of currencies. GreenCoinX intends to seek the input of governments with respect to the preferred range of the XGC volatility band. The GreenCoinX Treasury function will act as a price stability mechanism as any price movement beyond the confines of the band within a specified time will lead to intervention. GreenCoinX management is exploring ways to raise the necessary capital to carry out such a Treasury function, and will issue a further press release in this respect in due course.
There is no guarantee that the necessary capital to carry out a Treasury function will be available, or if available will be on terms acceptable to GreenCoinX Inc and the Company, and in the absence of sufficient funding the Treasury function as described will not be proceeded with.
GreenCoinX Inc is the developer of GreenCoinX (crypto currency symbol XGC) which is the world’s first identifiable crypto currency. GreenCoinX identifies users and facilitates the collection of user defined optional taxes by worldwide governments. By eliminating anonymity, GreenCoinX has removed the biggest barrier to widespread adoption of crypto currency. For more information, please visit http://www.GreenCoinX.com or contact Danny Wettreich at dw(at)GreenBankCapitalInc(dot)com