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Puregold describes itself as a payment gateway to use gold-backed ERC20 Tokens (PGPAY) backed by gold, Puregold was founded in Singapore in 2010 as an e-commerce store to sell gold, silver coins, and bars. In addition to physical stores, it operates and manages an online platform, which leads consumers and investors to use gold as the base currency in their transactions. Puregold believes in the idea that 'gold is money'.