Consumer loan provider IEG Holdings Corp. (OTCQB: IEGH), through wholly owned subsidiary Investment Evolution Crypto, LLC, this morning announced that it is negotiating to purchase a gold project with gold metal in the ground and prospecting licenses. IEG Holdings intends to utilize this gold resource to investigate creating its own gold metal-backed cryptocurrency, potentially offering loans and accepting loan repayments in the new blockchain-based currency. “Unlike Bitcoin, Ripple, Ethereum and Litecoin etc., IEGH’s crypto currency is planned to be backed by gold metal and registered with the SEC as a security,” Paul Mathieson, chairman and CEO of IEGH, stated in the news release. “We believe potentially combining the exciting new blockchain technology with the hard asset of gold metal, expected SEC registration, a leading sophisticated online consumer finance system and individual US state lending licenses is a very exciting proposition. In addition, we believe the future leaders of the crypto/blockchain sector will be companies that are materially compliant with all the existing and future related US government legislation. We aim for IEGH to leverage off its existing fintech business credentials, specifically its extensive experience in online consumer loans, to potentially be a key player in the crypto/blockchain sector.”
To view the full press release, visit http://dtn.fm/4NjpD
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About IEG Holdings Corporation
IEG Holdings Corporation provides online $5,000 and $10,000 unsecured consumer loans under the brand name, “Mr. Amazing Loans,” via its website, www.mramazingloans.com. In addition, IEG Holdings announced on December 22, 2017 that it has formed Investment Evolution Crypto, LLC, a wholly owned subsidiary of IEG Holdings (“Crypto”). Crypto will explore the legalities and economic risks and benefits of entering into a joint venture with Investment Evolution Corporation, a wholly owned subsidiary of IEG Holdings (“IEC”), to accept repayment of customer loans in the form of crypto/blockchain currencies such as Bitcoin, provide the crypto equivalent of $5,000 and $10,000 loans to customers, and also potentially create and issue an IEC cryptocurrency. Crypto has not begun operations and is in the development planning stages to explore these business opportunities in this time of changing technology. For more information about IEG Holdings, visit www.investmentevolution.com
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