Perth Mint
Gold Token

Issued by
In collaboration with

backed by
government guaranteed Gold

Perth Mint Gold Token:
Gold for the Blockchain Era


PMGT provides a superior level of trust and cost effectiveness for your transactions in real gold on a public blockchain.

PMGT allows blockchain users to conveniently trade and hold gold stored at The Perth Mint.

Digitally manage your entitlements over the physical gold, convert and pick up gold bullion of your choice or get it delivered globally.

What makes PMGT unique


Security, Stability, Guaranteed Backing

Backed by government guaranteed gold

Every PMGT is a tokenised version of a GoldPass certificate, which are 100% backed by physical gold stored in The Perth Mint's central bank grade vaults.

Liquidity

Via The Perth Mint's GoldPass platform investors can redeem their tokens at any time for bullion, or its market value in fiat, unlocking liquidity for even the largest of trades.

Price stability

Representing physical gold, PMGT offers token holders risk diversification and hedging against market volatility at superior credit quality while avoiding costly conversions between fiat and crypto.

Convertible

Redeemable via GoldPass into a range of The Perth Mint's products - from small 1 oz cast bars to 400 oz LBMA-accredited London Good Delivery bars - conveniently delivered to your doorstep.

Trust, Transparency, Efficiency

Trusted

The Perth Mint is the custodian of the underlying physical gold that backs all GoldPass certificates, with every ounce of gold guaranteed by the Government of Western Australia. It is these digital certificates that provide the 1:1 gold backing for PMGT.

No fees

With no transaction, storage, or ongoing management fees, PMGT is one of the most cost-effective gold assets and a competitive alternative to traditional gold products.

Scalable

As PMGT is tokenising GoldPass certificates backed by physical gold held in The Perth Mint‘s inventory, billions of dollars worth of tokens can be issued.

Real-time auditability

The amount of gold represented by issued PMGT can be verified at any time against the gold holding balance of InfiniGold‘s GoldPass accounts, published by The Perth Mint.

How PMGT works


PMGT is based on The Perth Mint‘s established GoldPass platform.

The Perth Mint has implemented GoldPass as the platform to digitise physical gold in the form of GoldPass certificates. Each certificate is 100% backed with physical gold stored at The Perth Mint.

PMGT tokenises GoldPass certificates and makes them available on a public blockchain where investors, traders and institutions can buy and sell them on Digital Asset Exchanges.

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

PMGT may be exchanged for GoldPass certificates. Equally GoldPass certificates may be exchanged for PMGT. In each direction the exchange rate is 1:1. The exchange is performed by InfiniGold, and no exchange fee applies.

Richard Hayes — CEO of The Perth Mint:

“The digitisation of gold via a public ledger will promote gold as a mainstream investment, enhance its accessibility, and offer greater liquidity and auditability.”

Use Cases


Safe storage of value

For thousands of years, gold has been one of the most effective stores of value, both as a hedge against inflation and volatility, and as a price stable asset. PMGT introduces gold to the blockchain, allowing digital asset investors to tap into these historically-proven properties.

Effective portfolio diversification

Portfolio diversification in digital assets markets is more challenging than that in the traditional financial markets as a result of higher volatility and correlations. PMGT solves both these challenges, as the price of PMGT will track gold’s spot price.

Cross asset traders

PMGT is indirectly tradable against traditional gold products:

GLD the world‘s largest gold ETF
COMEX/CME the most popular gold futures market
XAU the over-the-counter (OTC) gold market

This makes PMGT one of the few tokens that connects the traditional financial markets with the digital assets markets.

Institutional gold traders

PMGT has two key differences to other popular gold products:

  1. there are no management or storage fees to hold PMGT like there are for other gold products
  2. PMGT maintains a strict 1:1 backing with GoldPass certificates and therefore with physical gold, in stark contrast to many gold products which are often not fully-backed.

Individual gold buyers

Efficiency, trust, security, transparency, flexibility - PMGT provides individual gold investors with access to high-quality gold at highly competitive pricing, making it the most desirable product when investing in gold on the blockchain.

PMGT will be tradable on leading cryptocurrency exchanges, so that gold positions can be opened and closed within seconds by retail and professional investors alike.

Comparison Table


Advantages at a glance: comparison of different gold products

Institutional comparable Crypto comparable
Feature PMGT CME GLD IAU PAXG DGX
Underlying asset government guaranteed
Transfer fees Zero N/A N/A N/A 0.02% 0.13%
Annual storage and management fees Zero Margin 0.40% 0.25% Zero 0.60%
24/7 Trading
Redeemable for
physical gold
*
*A redemption requires a verified GoldPass account. GoldPass is not available in all jurisdictions. An up-to-date list of countries where GoldPass accounts are available can be found under www.perthmint.com/goldpass Standard GoldPass fees apply for the redemption for physical gold. See The Perth Mint Goldpass Users Terms and Conditions for details
For the avoidance of doubt, The Perth Mint does not guarantee the InfiniGold issued Perth Mint Gold Token (PMGT) or its operation on the blockchain. The Perth Mint only guarantees the gold securely held by it that backs all GoldPass certificates. The quantity of gold securely held by The Perth Mint backing the GoldPass certificates for PMGT can be verified at the following website: pmgt.perthmint.com.

Want to know more about how PMGT works?

Download our whitepaper.