Digital gold shines at The Perth Mint

Dec 12, 2019

The Perth Mint's move to embrace blockchain and cryptocurrency technology has resulted in a surge of investors registering to trade gold on digital platforms in the weeks following the launch of the Perth Mint Gold Token (PMGT). 

PMGT, issued by InfiniGold, is the first digital gold token on a public blockchain backed by government guaranteed gold. Importantly, it fulfils a key component of The Perth Mint’s strategy to deliver investment options for investors across all platforms – from facilitating the ability to buy physical gold coins and bars to this latest industry leading digital token.

PMGT is backed by GoldPass digital gold certificates issued by The Perth Mint and held by InfiniGold custodians. Each digital gold certificate is in turn 100% backed by physical gold stored securely in The Perth Mint’s vaults and guaranteed by the Government of Western Australia.

GoldPass is a Perth Mint app which allows investors to instantly and securely buy, sell and transfer physical gold via digital certificates that are 100% backed by physical gold held by The Perth Mint.

This platform has seen exponential growth in the 12 months since its launch, reaching a landmark 10,300 registrations as of mid-December. More than 2,700 accounts have been opened in the weeks following the launch announcement of PMGT.

For those intrigued by PMGT and its operation on the blockchain, read more at InfiniGold’s official PMGT website.

Find out how easy it is to get trading with GoldPass here.