Consumer loan provider IEG Holdings (OTCQB: IEGH) intends to create its own gold metal-backed cryptocurrency for consumer loans and consumer loan repayments. A recent article discussing the company’s anticipated endeavor reads: “On January 10, 2018, consumer loan provider IEG Holdings Corp. (OTCQB: IEGH) announced that its wholly owned subsidiary, Investment Evolution Crypto, LLC, is negotiating to purchase a gold project with prospecting licenses and known gold resources. The corporation plans to use a gold resource for the creation of its own gold metal-backed cryptocurrency, with a view to offering loans and accepting loan repayments through blockchain technology. Investment Evolution Crypto has not started mineral operations as yet, but it is currently developing plans to explore these crypto/blockchain opportunities. These efforts will include an evaluation of the legalities and associated economic risks.”
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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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