It's not backed by anything. They say (I talked with them over the phone and e-mail), it will be backed by gold and real assets. They literally say that they will buy gold coins using proceeds from Cruinn and will establish storage to keep it. Pinky promise.
Who will keep these assets? What is that person goes rogue, dies, government seize it, someone stole it, or anything else?
This is totally centralized, money grab scam. It has nothing to do with cryptocurrency.
Why won't they just use Bitcoin, Bitcoin Lightning, or even Monero? Bitcoin is most known, tested and established crypto, Monero is very private. These are ready-made solutions.
CLC doesn't want easy payment option. They want your money. That's why they created scam coin cruinn, without any whitepaper, any blockchain, no network, nothing just send them money that's it.