Saga Announces the Official Launch of the SGA Token
10.12.2019 08:01:00 EET | Business Wire | Press release
Saga today announces the launch of the Saga token (SGA), the first global, stabilised, digital currency controlled by its holders. SGA allows global citizens to store and move value without friction across borders - a need accelerated by the speed of globalisation.
Working in collaboration with banks, financial institutions, and regulators, SGA acts as a bridge bringing digital currencies into the mainstream, by reducing risk and building trust. SGA is the first digital currency that replicates the mechanics of central bank national currencies and applies them on a global scale:
● Endowed with a refined monetary model and inspired by proven central-banking instruments.
● Governed by its holders through a variety of voting mechanisms, SGA puts the power in the hands of modern global citizens, rather than corporates or any single government.
● Backed by a reserve of assets that reflect the International Monetary Fund’s SDR (a basket of currencies containing USD, EUR, GBP, CNY and JPY). This acts as a stabilising mechanism to reduce volatility.
● Non-anonymous and compliant as currency holders have to undergo an online Know Your Customer (KYC) process that ensures compliance with Anti-Money Laundering (AML) standards - but their privacy is kept.
Ido Sadeh Man, Founder of Saga, said: “Currencies have not kept up with the pace of globalisation and they do not address the global scope and needs of modern lives. The decreasing economic importance of national boundaries, changes in society, and a need for monetary diversification have created a necessity for a complementary, global, non-governmental currency. We have set out to address this need by launching the first stabilised, digital currency governed by its holders and compliant with AML regulations.”
In order to serve as a global currency, Saga has built a robust monetary model and effective system of governance. The key feature of its monetary model is a blockchain-based, liquidity provider: a smart contract that adjusts the supply of Saga tokens to meet market demand, and to limit the impact of fluctuations in market confidence on SGA price. The proceeds of issuing new SGA tokens are kept in a reserve, held in regulated banks and stored in liquid assets that replicate the currency composition of the SDR.
For more information visit www.saga.org.
ENDS
To view this piece of content from cts.businesswire.com, please give your consent at the top of this page.
View source version on businesswire.com: https://www.businesswire.com/news/home/20191209005700/en/
Contact information
Media contact
Katie Spreadbury
Saga@fullyvested.com
About Business Wire
For more than 50 years, Business Wire has been the global leader in press release distribution and regulatory disclosure.
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
Ant International, Mastercard and Visa Initiate Collaboration on Know-Your-Agent Interoperability to Scale Agentic Commerce10.9.2026 04:00:00 EEST | Press release
Ant International, Mastercard, and Visa have begun collaboration on a Know-Your-Agent (KYA) interoperability framework, designed to help card networks, digital wallet ecosystems, agent platforms and marketplaces streamline agent onboarding and identification across networks, based on shared principles while preserving each network's own verification and decisioning processes. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260909003891/en/ Ant International, Mastercard and Visa initiate collaboration on Know-Your-Agent interoperability to scale agentic commerce AI agents are evolving from making recommendations to completing purchases on behalf of users. By 2030, AI agents are projected to orchestrate US$3 trillion to 5 trillion of global consumer commercei. Underlying the mega-trend is the KYA architecture of payment networks and service providers, which establishes requirements and accountability, verifies agent identities,
Cyclic Materials Opens America’s First Commercial-Scale Facility Delivering Automated Rare Earth Magnet Recovery9.9.2026 23:09:00 EEST | Press release
Cyclic Materials announced today the opening of its first commercial-scale rare earth magnet recycling facility in Mesa, Arizona, marking a major milestone in building domestic supply of rare earths and critical minerals. With an annual processing capacity of up to 25,000 metric tons of magnet-bearing end-of-life products, the facility produces Cyclic’s rare earth magnet material, Mag-Xtract™, and critical minerals such as copper and aluminum, and steel. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260909142592/en/ Leaders gather to mark the opening of Cyclic Materials’ new facility in Mesa, Arizona. From left to right: Herbert Flores, Arizona Commerce Authority Vice President of Business Development; Scott Somers, City of Mesa Vice Mayor; Jeff Dawley, Cyclic Materials CFO; Mark Freeman, City of Mesa Mayor; Ahmad Ghahreman, Cyclic Materials Founder and CEO; William Kimmitt, U.S. Under Secretary of Commerce for Internationa
Belkin Introduces Titan SmartShield Pro Collection for the New iPhone 18 Pro Lineup9.9.2026 22:00:00 EEST | Press release
Belkin, a leading consumer electronics brand for over 40 years, today introduced its new Titan SmartShield Pro collection, designed to protect and enhance the experience of the new iPhone 18 Pro lineup. The collection includes three distinct screen protectors – clear, Blue-to-Red and Bright Privacy – each combining advanced Nano-Titan Technology with premium anti-reflective properties, exceptional scratch resistance and up to 9 feet of impact protection.* This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260909094720/en/ Belkin Titan SmartShield Pro Blue-to-Red Light screen protector As smartphones become increasingly central to how people work, travel and connect, the Titan SmartShield Pro collection goes beyond traditional screen protection to address the different ways consumers use their devices throughout the day. Whether prioritizing crystal-clear viewing, greater visual privacy or a more comfortable screen experience, us
PPAI Releases Landmark Study Showing Branded Merchandise Supports a $472 Billion Global Economic Footprint9.9.2026 20:24:00 EEST | Press release
Branded merchandise connects brands and people every day, but its impact extends well beyond the products consumers wear, use, receive or purchase. A landmark study commissioned by Promotional Products Association International (PPAI) provides the first comprehensive look at the global economic ecosystem behind branded merchandise. Conducted by independent global advisory firm Oxford Economics, the Branded Merchandise Global Market Report measures the industry end to end, from manufacturing and decoration to distribution, retail, e-commerce, fulfillment, marketing and brand activation. Key findings: $338.3 billion was spent on branded merchandise globally in 2025. The industry supported $472.3 billion in global GDP. Branded merchandise supported 11.9 million jobs worldwide. The sector supported $141.3 billion in global tax revenues – roughly the same as the entire Swiss federal budget. “For years, we’ve known branded merchandise has an extraordinary ability to connect brands with peopl
Vindral Named Recipient of 2026 Technology & Engineering Emmy ® Award9.9.2026 19:38:00 EEST | Press release
Vindral, the Swedish company building future-ready technology for real-time audio and video, has been named a recipient of a 2026 Technology & Engineering Emmy® Award by the National Academy of Television Arts & Sciences (NATAS). Vindral is recognised in the category Web-Based Frame-Accurate Remote Monitoring Systems for Distributed Broadcast Production. The co-recipients in the category are SipRadius, NBCUniversal, Grass Valley, CBS Sports, Disney, Game Creek and Amazon. The awards will be presented on October 14 at the Television Academy's Saban Media Center in North Hollywood, California, where Vindral will be represented by CEO Daniel Alinder and Ian Jefferson. The Technology & Engineering Emmy® Award is one of the U.S. television industry's most prestigious recognitions of technical achievement, previously awarded to companies including Apple, Sony, Netflix and YouTube. This year's recipients are honoured for technology that enabled high-quality, real-time production from distribu
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.
Visit our pressroom