What Is PMGT?
“Perth Mint Gold Token (PMGT), launched in October 2018, is an ERC20 token developed and issued by InfiniGold. Each unit represents 1 fine troy ounce of physical gold securely stored in The Perth Mint’s central bank grade vaults.
PMGT is a tokenised version of GoldPass certificates issued by The Perth Mint. GoldPass is The Perth Mint‘s full-service gold investment platform that digitises physical gold in the form of digital certificates.
PMGT is tradeable on Independent Reserve, transferable peer to peer, and enables a smart contract proving your title of gold held at the Perth Mint. “
Who Are the Founders of PMGT?
“PMGT is an InfiniGold product, issued by InfiniGold, while GoldPass is a Perth Mint product. The Perth Mint is the custodian of the underlying physical gold behind all GoldPass digital certificates, including those held by InfiniGold which back PMGT.”
What Makes PMGT Unique?
“PMGT is 100% backed by gold held and stored in The Perth Mint’s central bank grade vaults, where the weight and purity of every ounce is guaranteed by the Government of Western Australia. This makes PMGT the first gold-backed token on a public blockchain whereby the physical gold is government guaranteed.
As PMGT is a tokenised version of GoldPass certificates backed by physical gold held in The Perth Mint’s inventory, the issuance of PMGT can seamlessly scale up to billions of dollars’ worth of tokens.
Free of recurring storage or management fees, PMGT offers institutional investors a competitive alternative to traditional gold products, with the additional benefits of real-time 24/7 trading, a cryptographically secure instant settlement enabled by blockchain technology, and fewer intermediaries.”
Where to trade Perth Mint Gold Token (PMGT)?