Discovery Minerals Ltd’s (OTCMKTS:DSCR) stock has made a strong move this morning after it announced that it selected Alt 5 Sigma Inc for the purposes of developing its Discovery Coin and the associated Payment Gateway.
Shares of DSCR are up 41% at 11:00 trading at .0198 gaining .0059 so far this morning. Volume is 245 million shares and almost 3900 trades have taken place. DSCR opened the day at .0142 and has ranged from .0138 and .0199. The dollar volume of this mornings trades is already is $4.5 million.
According to the agreement, Alt 5 Sigma plans to mint a total of 210 million of the Discovery Gold Coins onto the Ethereum Blockchain with DSG. Once fully subscribed, the intent is for the Discovery Gold Coin to be tethered to 2,100 Bitcoins, 2,100 Ethers, 2,100 ounces of physical gold and 2,100 ounces of physical silver. In addition to the minting of the coin, Alt 5 Sigma will assist the company with payment processing, secondary listing, as well as deploying a merchant payment gateway using their proprietary technology, enabling merchants globally to accept Discovery Gold Coin as payments.
The company decided to create the gold-backed Discovery Coin with the view of diversifying its sources of revenue, monetizing its resource of gold, and creating liquidity.
As per the agreement reached between the two parties, Alt 5 Sigma is going to mint 210 million Discovery Gold coins on the Ethereum blockchain. On the other hand, Alt 5 Sigma is also going to help Discovery Minerals with payment processing services and will also provide a payment gateway for merchants. The gateway will allow merchants from anywhere in the world to accept payments in Discovery Gold Coin.