E-gold

Digital gold currency

e-gold was a digital gold currency operated by Gold & Silver Reserve Inc. (G&SR) that allowed users to make payments, which it called "spends", in grams of gold, silver, and other precious metals. e-gold was launched in 1996 and grew to five million accounts by 2009, when transfers were suspended due to legal issues. At its peak in 2006, e-gold processed more than US$2 billion worth of spends per year, backed by over US$85 million worth of gold, about 3.8 tonnes (8,400 lb). e-gold Ltd. was incorporated in Nevis, Saint Kitts and Nevis, and its operations were based in Florida.

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