Scheduled Update: GoldPass™ app system upgrade is scheduled for 13 October 2018 from 6pm (Australian Western Standard Time), for an estimated two hours.
Securely trade and store physical gold via digital certificates with GoldPass™
The Perth Mint's new GoldPass™ app offers another dimension to the expansive range of innovative investment and storage solutions offered by The Perth Mint.
What is GoldPass?
At the touch of a screen, GoldPass™ gives retail investors the unique ability to securely buy, store and sell physical gold via digital certificates. The app also allows the instantaneous transfer of gold to other GoldPass™ app users.
The Perth Mint’s latest investment platform, powered by InfiniGold technology, offers investors the trusted quality for which Perth Mint products are renowned with the flexibility and convenience to access their wealth at any time.
All GoldPass™ digital certificates are 100% backed by physical Perth Mint gold stored in its central bank grade vaults, with the weight and purity of every ounce guaranteed by the Government of Western Australia.
Compatible with other online technology platforms, GoldPass™ digital certificates are an alternative to cryptocurrency investments and will pave the way for gold to be used as a transactional currency.
Using GoldPass™, investors may buy Perth Mint unallocated gold and can redeem their metal holdings at any time for cash or delivered physical gold.
Powered by InfiniGold
This new investment platform is powered by InfiniGold technology. InfiniGold Pty Ltd is a software services company that uses proprietary technology, specifically tailored to digitise Perth Mint gold, and is perfectly fit-for-purpose in creating digital investment products.
What's in GoldPass™?
GoldPass™ is a full-service gold investment app. It allows users to securely buy, store and sell physical gold via digital certificates.
The physical gold backing the product is represented in the form of digital certificates within the app. The holdings are visible via the app’s interface along with any cash available, similar to how balances are seen on online banking systems.
All cash and metal holdings are fully guaranteed by the Government of Western Australia.
Investors may also send gold in real time to other GoldPass™ app users, or redeem their digital certificates or ounces for physical gold or cash at any time.
GoldPass™ is now available for free download on Google Play and the Apple App Store.
Help and FAQs
What gold products does GoldPass™ offer?
Currently Unallocated Gold is the only product available to buy, store, sell and transfer on GoldPass. However additional metals and products are expected to be made available in the near future.
What technology does GoldPass™ use?
Unique digitally secured certificates are minted cryptographically on InfiniGold’s servers, containing detailed ownership information over physical gold stored at The Perth Mint. The digital certificates are stored in a digital vault and secured using bank-level technology and security.
What is Digital Gold?
Because legal ownership of physical gold is represented in a digital form, it is often referred to as ‘digital gold’. It is an innovative way to hold and trade physical gold, at a competitive price point to alternative gold investments. The technology also allows for enhanced functionality such as faster settlement times including instant transfers of metal.
Are GoldPass™ holdings covered by the Government Guarantee?
All digital certificates are 100 percent backed by physical Perth Mint gold, with the weight and purity of every ounce guaranteed by the Government of Western Australia.
What currencies can GoldPass™ trade in?
Initially in Australian Dollars with plans to expand into other currencies in the near future.
What is the minimum investment? The maximum investment?
The minimum investment is AUD50. There is no limit on the maximum investment.
What are the fees and charges applicable to this?
There is no fee charged on account balances nor any ongoing management fee. “Certificate fees” do apply on buy and sell transactions and vary depending on transaction value. For full details of all fees and charges, please see Section 7 in our Terms and Conditions below.
How much is each certificate represented?
Certificates are of varying value and are available to be viewed within each GoldPass™ account, in the form of digital certificates. The total quantity of all certificates held for each asset is presented as one total balance of holdings in the account.
What is the timeframe for redeeming physical?
If the particular product that the investor wants to take delivery of is in stock, it is available for immediate delivery.
Can I set-up a Goldpass™ account in the name of a Trust or company?
Currently you can only set-up a GoldPass™ account in the name of an individual. This is being developed and will be available in the future.
Bank account used for GoldPass™ set-up
The bank account used for your GoldPass™ account must match your GoldPass™ account name.
Terms and Conditions for GoldPass™
Download and read GoldPass™ Terms and Conditions here.