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- Perth Mint Gold token makes it’s debut on the KuCoin exchange today.
- The physical gold in storage backs the GoldPass certificates a one hundred percent. The Perth Mint holds the gold.
- Investors might go for the digital assets like any stable coin out there, or they might also invest a little bit in the PMGT.
Perth Mint Gold token makes it’s debut on the KuCoin exchange today. The Government-backed token is secured by gold and guaranteed by the Government of Australia has begun public trading today.
The precious metals digitization company InfiniGold Pt. Ltd. launched the coin the October of the year 2019. The token is backed by GoldPass certificates issued by the Perth Mint.
The physical gold in storage backs the GoldPass certificates a one hundred percent. The Perth Mint holds the gold. A zero-fee has been proposed for custody, storage, insurance and management by the Perth mint gold token, which makes the token a very cost-effective gold asset.
The token has been placed at a competitive position with traditional gold-related products such as gold exchange-traded funds and banked gold transfers amongst others. Because it is backed by real physical gold, the token can also be used as a risk-off token as an alternative.
“The Perth Mint is the largest refinery of newly mined gold in the world, we’ve got an unprecedented depth of liquidity to bring to the market with the Perth Mint Gold Token. We haven’t simply purchased a couple of gold bars, put them in a vault and then tokenized them. We can tap into billions of dollars worth of gold stored at The Perth Mint.”
-said Andreas Ruf, chief executive officer of InfiniGold, in a statement.
The actual test for the Perth Mint Gold Token is that if the investors will buy it or go for the traditional ways of investing in gold or will they buy a token backed by gold at all. Investors might go for the digital assets like any stable coin out there, or they might also invest a little bit in the PMGT.
Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.
