Perth Mint Gold Token issued by InfiniGold begins trading on KuCoin exchange

Tuesday 25 February 2020 10:50 CET | News

The Perth Mint Gold Token (PMGT), a digital token backed by government guaranteed gold, has begun trading on the KuCoin exchange.

The Perth Mint is a large global refiner of newly mined gold and a member of the London Bullion Market Association (LBMA). It currently safeguards wealth valued at more than AUD 4.5 billion within its state-of-the-art vaults for clients ranging from central banks and sovereign wealth funds to individuals. It is now also the custodian of the physical gold backing PMGT, according to the official press release. 

Each token is underpinned 1:1 by Perth Mint digital GoldPass certificates which represent physical gold held in storage at The Perth Mint. In addition, the weight and purity of every ounce of gold anchoring PMGT is assured by the Mint’s sovereign owner, the Government of Western Australia, which holds a long-term AA+ credit rating to provide unprecedented surety to investors.

KuCoin account holders who have passed KYC ID verification can trade PMGT immediately, with their holdings fully redeemable for physical gold via The Perth Mint’s technology solution GoldPass.

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Keywords: Perth Mint Gold Token, Token, gold backed assets, KuCoin
Categories: DeFi & Crypto & Web3
Countries: Australia
This article is part of category

DeFi & Crypto & Web3