The Perth Mint Gold Token (PMGT) is being discontinued.
All PMGT holders are required to either trade out of their positions through the PMGT market maker on the Australian Exchange Independent Reserve or exchange their tokens for Perth Mint GoldPass Certificates. Click here to find out more.
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.
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.
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.
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.
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.
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.
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.
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.
The amount of gold represented by issued PMGT can be verified at any time against the gold holding balance of Trovio‘s GoldPass accounts, published by The Perth Mint.
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 Trovio, and no exchange fee applies.
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.
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.
PMGT is indirectly tradable against traditional gold products:
| GLD |
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the world‘s largest gold ETF |
| COMEX/CME |
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the most popular gold futures market |
| XAU |
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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.
PMGT has two key differences to other popular gold products:
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.
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Institutional comparable | Digital Asset comparable | ||||
| Feature | PMGT | CME | GLD | IAU | PAXG | DGX |
| Underlying asset government guaranteed |
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| On-chain fees | Zero | N/A | N/A | N/A | 0.02% | 0.13% |
| Annual storage and management fees | Zero | 0.12% storage plus clearing / settlement fees | 0.40% | 0.25% | Zero | 0.60% |
| 24/7 Trading |
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| Redeemable for physical gold |
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