June 20th, 2019 at 2:07 pm UTC · 2 min read
Maya Preferred 223 (MAPR), a stablecoin backed with gold and silver mines located in Mexico, has announced a reconsolidation of the assets behind the coin.
Eight of the assets supporting Maya Preferred 223 have been merged into six, with five additional shafts added to the list. Now there are eleven shafts from four Mexican states behind Maya Preferred:
The total value of the assets backing each MAPR subsequently rose to $34,000. As gold prices tend to consistently trend upwards over time, this backing value is also expected to grow with time.
James Dahlke, CEO and co-founder of Maya Preferred 223, said:
“This reconsolidation was bound to happen. In our current framework we update, reconsolidate and add more shafts to our project every three months. The four mines from the Tequila project cost us about $8 million, and they have substantially raised the backing value of the currency. There are many more updates on our agenda, soon we will tell you more. I’m glad that our project is developing at the speed we are going, remember – this is only the beginning.”
Richard Crespo, vice president of Maya Preferred, had this to add:
“Gold remains one of the most promising investments. Our innovative approach will help people to invest not only in gold, but also in crypto at the same time. We are a very ambitious team, and enlarging our pool of gold and silver assets is one of our highest priority tasks. We will keep scouting for new shafts to acquire and add to the eleven we already have and thereby increase the MAPR price even more”
Maya Preferred 223, developed by U.K. Financial Ltd., is currently traded on two crypto exchanges, FatBTC and Cat.ex, for 1.5 BTC per MAPR, which comes to $14,255 at the moment of writing.