Gold and Silver are two of the most popular precious metals being traded and there’s now new digital ways of holding these assets. Gold and Silver are now being tokenized in a highly transparent online process, and these blockchain tokens are a great alternatives to physically purchased metals. As discussed in our previous article, it’s important to look at several attributes before choosing what asset backed token to choose as each token is slightly different.

Let’s have a look at the current offers from companies storing gold and silver within Australian vaults.

 

Gold Standard & Silver Standard by Ainslie Wealth

 

 

Gold Standard and Silver Standard tokens are only created (minted) for metals already safely secured in a custodial vault within Brisbane Australia. All metals are held by a clean entity, Gold Silver Standard Custodian (GSSC Pty Ltd) free of any liabilities other than the tokens on issue. Ainslie ensure that these tokens are full reserve tokens with a 1:1 issuance, and transparently shares audit results. This allows the public to rest assured knowing that all tokens are backed by physical metal.

Both tokens will soon be available to trade on the Metex Exchange!

 

Perth Mint Gold Token

 

The Perth Mint Gold Token (PMGT) is a digital gold token distributed on the Ethereum public blockchain. The PMGT token is issued by InfiniGold and all tokens are backed 1:1 by a GoldPass digital gold certificate issued by The Perth Mint. Each GoldPass certificate is backed by physical gold held by The Perth Mint.

1 PMGT = 1 oz GoldPass certificate = 1 oz pure physical gold 

Unlike most gold backed tokens, the Perth Mint uses a troy ounce as their chosen unit or measure per token.For metric conversions please note that 1 troy ounce = 31.1034768 grams.

This token is not listed on the METEX Exchange, however PMGT it is a reputable gold token backed by Perth mint who processes more than 90% of Australia’s primary gold production.

 

What About Platinum & Palladium Tokens?

 

 

In addition to Gold and Silver, METEX Exchange will also list 2 of their own tokens backed by Palladium and Platinum. Each token represents 1 gram of the respective metal, securely vaulted and audited in Australia. Like the tokens above from Ainslie and InfiniGold, these tokens are also minted on the ethereum network and openly distributed and traded in the public.  All the metals are held by Metex Corp Pty Ltd and regular audits completed to ensure a full reserve token issuance model is followed.

Both tokens will soon be available to trade on the Metex Exchange!

 

Stay tuned for our upcoming launch and make sure to follow our social accounts!

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