Why CORO2020-11-12T10:34:18-05:00

CORO is the easiest, fastest, and most secure way to buy, send, and save gold.

The Timeless Value of Gold

There is arguably no more valuable metal in human history than gold. From the ancient Egyptians to today, gold has maintained its place of value in society, contributing to trade and economic development across the ages. Despite modern economies leaving the gold standard behind in the aftermath of WWII, it remains one of the most sought after commodities in the world.

Gold can’t be tampered with like regular paper money. That’s why we continue to turn to it when we seek financial security: it is the metal that humanity falls back on when other forms of money don’t work.

Thanks to CORO, you can now easily access gold as a currency that is truly resilient and universally accepted.

Technology

CORO is built on a distributed ledger technology (DLT) (a type of data system built on a synchronized network) called hashgraph. While much of the world is familiar with a different DLT called blockchain, hashgraph ushers in a new DLT era by being faster and more secure than blockchain. Major blockchain-based networks like bitcoin and ethereum are slow, consume enormous amounts of energy, and are vulnerable to attack. CORO offers something different, something better.

Here are the technical details: hashgraph uses a mathematical approach called directed acyclic graph that allows transactions to process in parallel, rather than linearly. This approach increases the speed at which transactions are processed, reducing errors, and improving the integrity of transactions. By building CORO on hashgraph, we’re able to create a payment ecosystem that is ready for the future.

Speed

With the ability to process up to 500,000 transactions per second, hashgraph is one of the fastest DLTs known to humankind. For perspective, Visa currently handles 35,000 transactions per second while Bitcoin and Ethereum are capable of processing 10. Hashgraph’s speed prepares us for the future with enormous potential.

Security

Not only is hashgraph faster than other payment networks, but it’s more secure. Hashgraph is mathematically proven to achieve the highest security standard in the world for consensus algorithms (the system powering DLTs), called asynchronous Byzantine Fault Tolerance (aBFT). This is the technical way of saying that CORO is built on one of the most secure forms of transaction technology on this planet. We purposefully designed CORO this way in order to ensure the strongest protection against cyberattacks.

Our Pricing

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Transactions

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Transactions
Creating your accountFree
Get a UK account number and sort codeFree
Get a U.S. routing and wiring numberFree
Get a European IBANFree
Convert currencies0.33%-3.56%
Exchange
TransferWise debit Mastercard®Free
Spend in currencies in your accountFree
Convert a currency using your card0.33%-3.56%
ATM withdrawals up to £200 / 30 daysFree
ATM withdrawals over £200 / 30 days2%

Exchange

It is a long established fact that a reader will be distracted by the readable content of a page when looking at its layout. The point of using Lorem Ipsum is that it has a more-or-less normal.

Storage

It is a long established fact that a reader will be distracted by the readable content of a page when looking at its layout. The point of using Lorem Ipsum is that it has a more-or-less normal.

Storage
Creating your accountFree
Get a UK account number and sort codeFree
Get a U.S. routing and wiring numberFree
Get a European IBANFree
Convert currencies0.33%-3.56%

Frequently Asked Questions

How does CORO work?2020-10-29T11:47:33-05:00

CORO is a mobile payment app that combines gold – the most stable and trusted form of money – with the world’s most advanced and secure payment technology.

Once you download CORO and complete your identity verification, you can connect your bank account to get started. Then you can transfer funds from your bank to your CORO account, which will allow you to exchange any amount of US dollars for gold, as well as sending and receiving payments in gold and US dollars.

All transactions on CORO, no matter how large or small, are instant and validated immediately. With the ability to complete up to 500,000 transactions per second, CORO is one of the fastest payment apps in the world – faster than credit cards and faster than blockchain.

CORO is built on one of the most secure transaction ledgers this world has ever seen. It was designed to provide the absolute strongest protection against cyberattacks, keeping your money and information safe at all times (if you would like more information, click here).

With CORO, your gold account holds 100% physical gold at all times. Physical gold is securely stored and audited by an independent party. Coming soon, you will be able to get physical gold shipped safely to your doorstep.

What is XAU?2020-10-29T11:30:15-05:00

XAU refers to the ISO 4217 standard code for one troy ounce of gold, which is considered a currency.

One XAU is the equivalent of one Troy ounce of gold. With CORO, you can exchange US dollars for Troy ounces of gold or any fraction as low as .001 of a Troy ounce. Your gold balance will be shown in your XAU wallet with each XAU (and/or fractions thereof) corresponding to Troy ounces of physical gold.

There is arguably no more valuable metal in human history than gold. From the ancient Egyptians to today, gold has maintained its place of value in society, contributing to trade and economic development across the ages. Despite modern economies leaving the gold standard behind in the aftermath of WWII, it remains one of the most sought after commodities in the world.

Gold can’t be tampered with like regular paper money. That’s why we continue to turn to it when we seek financial security. Gold is the metal that humanity falls back on when other forms of money don’t work.

Where will you store my gold?2020-10-29T11:32:55-05:00

Gold purchased by CORO customers will be stored in a secure vault with an independent gold custodian.

The independent custodian maintains a bailment arrangement with CORO’s customers so that the customers have direct ownership of their gold at all times.

Our customers’ gold is fully insured by the independent custodian. The independent custodian will keep a daily record of each customer’s gold holdings.

How does CORO protect my Data?2020-10-29T11:33:47-05:00

All transactions on CORO are private, and no personal information will ever be revealed to third parties.

CORO is compliant with financial regulatory requirements and uses the strongest level of IT security to ensure the safety and security of your account.

While many apps worldwide sell your data to third parties, we will never do that. Your security and privacy are our priorities.

Supported devices2020-10-29T11:34:47-05:00

The CORO app is designed to be exclusively used on either Android or iPhone mobile phones. It is not available through a web browser, as a desktop application, or for tablets (Android or iPad).

So why is CORO only available for mobile phones?

Simple: For your security and the security of all the CORO customers.

Each individual CORO account is tied to a specific email, phone number, and mobile device. While you can load and access CORO on different mobile phones (such as when you upgrade to a new mobile phone or change your number), our extensive security measures will detect your account is being accessed by a previously unknown device and deploy enhanced security to verify your identity. These security measures are in place to protect you from fraud and to keep your account as secure as possible.

By keeping CORO strictly on mobile phones, we are able to provide the highest levels of security to all our customers.

Coro Global Inc. is a public company2020-10-29T11:52:35-05:00

About Coro Global Inc.

Coro Global Inc. (OTCQB: CGLO) is a Miami, Florida-based fintech company that is creating a new financial payment system where gold can be used as money in everyday transactions as easily as fiat currencies.

Coro Global Inc. seeks to enhance shareholder value through exceptional business performance and practices, as well as through responsible and effective communication with its shareholders.

Coro Global Inc. created CORO, which is a mobile payment app that combines the most stable and trusted form of money, with the world’s most advanced and secure payment technology to allow people to use gold as easily as fiat currencies.

CORO is offered through Coro Corp. – a subsidiary of Coro Global Inc. – which operates pursuant to both Federal and State money transmission regulations. Coro Corp has already been registered as a money service business with the US Treasury Department and is in the process of filing for multiple state money transmission licenses throughout the United States.

Understanding the Gold Spot Price2020-10-29T11:51:44-05:00

What is spot?

Spot is a reference to time. It is simply today’s price to exchange a good or service today. Spot transactions should be thought of as transactions in the present moment. Whether it’s gold, oil, dollars, or anything else, if you want it today that’s a spot transaction. Like Amazon Prime Now delivery — those are spot transactions.

Spot = today by midnight at the longest or this exact second at the shortest.

Who decides the spot price?

Gold spot is quoted twice each day by the London Bullion Market Association (LBMA) at 10:30 and 15:00 London BST. These time periods are often referred to as the morning fix and afternoon fix.

The twice daily auction for the LBMA is conducted by the ICE Benchmark Administration.

To find the spot price visit this link: ICE Report Center – Data

How is the spot price determined more than twice per day?

Unfortunately, the LBMA only provides a spot price twice daily. Like most markets, gold trades throughout the day and night while the LBMA prices are static and only update twice per day. For buyers and sellers of gold in the spot market, there needed to be a way to agree on a dynamic spot price.

Fortunately a good solution exists and only requires basic math: Gold futures.

What are gold futures?

Gold futures are simply an agreement to trade gold in the future, such as in 30 days or one year, at a price agreed today.

Gold futures are a very deep and liquid market and there are several gold futures exchanges around the world. The largest and most respected in the world, however, is known as the COMEX.

To keep it simple, just remember that spot equals “today,” or even more specifically, it could mean right this second. Futures equals anything beyond today, in other words, the future!

The relationship between LBMA spot and COMEX futures

If we have a spot price from LBMA that is given twice per day and we have a futures price from COMEX that is updated throughout the day, we can use some simple math to net-present value the COMEX futures prices to today. In reality, we need only look at the COMEX futures price at 10:30 and 15:00 BST, when LBMA releases their spot prices, and compare the difference. Once we know the difference between the spot price and the futures price, we can calculate a dynamic spot price. Problem solved!

Even though COMEX does not publish this dynamic derived spot price, it is often referred to as COMEX spot by market participants.

The details of dynamic spot gold prices

COMEX gold futures are available for the following months: February, April, May, June, July, August, October, and December.

Spot is calculated by using the futures price from the most active futures contract, which is usually the contract with the earliest date, also known as the “front” or “near” month. Please note, however, that the most active and front month are not necessarily the same. Spot is calculated from the most active contract. Traders often move their positions from the front month to the next upcoming month. That means the most active contract could be the second month or even third month contract where the most volume is found.

What is exchange for physical (EFP)?

EFP is simple. EFP is the difference between the most active futures contract price and the COMEX spot price.

If someone with a futures contract decided they wanted to trade their futures contract for physical gold today in the spot market, it would be called an Exchange for Physical.

If the spot price is higher than the price of the most active futures contract, then the person wanting to have gold today rather than waiting for their gold in the future would have to pay the price differences to exchange their futures contract for the physical gold in today’s spot market. Depending on market dynamics, that could also work in reverse where the spot market is less than the futures price. Thus EFP can be a positive or negative number.

Who can trade at COMEX spot prices?

Let’s imagine COMEX spot as the prices available to the biggest players in the gold market. That’s usually banks like J.P. Morgan and large brokerage firms like INTL FCStone that are trading between each other.

All two-way dynamic markets have a price at which a buyer is willing to pay, known as the “bid,” and a price at which the seller is willing to sell, known as the “ask” or “offer.” The difference between the bid and the ask is the spread. Pretty easy right?

Using the COMEX spot prices, these large financial institutions then add their spread and quote their own spot price to their customers.

Can I get physical gold from CORO?2020-10-29T11:43:03-05:00

This feature will be available soon!

Once we launch this feature, your gold balance will available for withdrawal at any time. We’re talking physical gold shipped safely to your doorstep.

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