The Royal Mint of the United Kingdom, the institution charged with producing all the physical money of the country , announced the launch of its own cryptocurrency.

The Blockchain coin, called Royal Mint Gold (RMG), is a digital representation of gold stored in the vault of the Royal Mint.

The Royal Mint Bullion Gold, is the first company to allow customers to hold gold-backed assets on Blockchain, Tom Coghill, RMG's sales manager, said in an interview with Express .co.uk. Coghill also mentioned that a RMG coin equates to one gram of gold, adding that "it's real gold that you hold when you hold our RMG."

A recent report by the World Gold Council (WGC) compared bitcoin and gold, stating that although Bitcoin has seen stronger growth in value in gold would remain an important investment of market value.

Coghill claims that Bitcoin investments are more uncertain than investments in gold:

"Gold probably had the argument that it was a treasure of value for 6000 years, bitcoin a little younger and the future of bitcoin is uncertain. "

The RMG project was first unveiled by the Royal Mint in December 2016.

The United Kingdom is not the only country to have created a cryptocurrency with precious metals. Last week, local sources in Australia reported that the country's largest precious metal refinery, Perth Mint, was to develop its own cryptocurrency backed by physical precious metals.