Sydney, Australia - 13 September 2020 - Australia’s leading cryptocurrency exchange Independent Reserve, has today announced the addition of Perth Mint Gold Token (PMGT).
PMGT is issued by leading commodities digitisation company, InfiniGold and is 100% backed by GoldPass certificates issued by The Perth Mint. GoldPass certificates are fully backed by physical Perth Mint gold, with the weight and purity of every ounce guaranteed by the Government of Western Australia.
Independent Reserve customers will be able to buy and sell PMGT on its secure digital asset exchange. The precious metal can be traded against major fiat currencies, including AUD, NZD and USD.
The partnership between Australia’s leading cryptocurrency exchange, underpinned by Australia's well regulated financial sector with the world’s first digital token backed by government guaranteed gold, creating a tokenised solution made possible by InfiniGold’s pioneering technology incubated out of RoZetta Ventures, the investment arm of the RoZetta Group.
Prior to founding InfiniGold, its core team was responsible for the development of SMARTS, the leading global market surveillance program which was acquired by NASDAQ in 2010. Therefore, it is highly experienced in building regulatory compliant capital markets solutions.
A strong regulatory foothold enables Independent Reserve to offer its services to Self-Managed Super Funds (SMSF). Unique to the Australian market, these funds allow investors to take control over how their retirement savings are invested. SMSF trustees can obtain exposure to bullion without the complexity of storing and managing the physical asset. With designated SMSF accounts and unique cryptocurrency tax statements powered by global professional services firm KPMG, Independent Reserve provides the ideal platform for SMSFs to invest in digital assets like PMGT.
"We see a lot of overlap between cryptocurrency and gold investors. As such I anticipate a lot of interest from our customers in being able to easily purchase and trade digitised gold assets," said Adrian Przelozny, CEO, Independent Reserve.
"The listing not only demonstrates the coming together of two leading Australian companies but marks an important milestone for the gold industry, investors and digital asset exchanges," said Jon Deane, CEO, InfiniGold.
"Independent Reserve's trusted reputation coupled with InfiniGold's affiliation with The Perth Mint and its store of the government guaranteed gold which backs PMGT has built a solid foundation for the institutionalisation of tokenised assets."
Media Contact for PMGT
Chiara Sandifer, Cryptoland PR
UK: +44 020 3908 5686
Perth Mint Gold Token (PMGT) is the first digital gold token on a public blockchain with its underlying asset underpinned by government guaranteed gold. Each digital token is issued by InfiniGold and backed 1:1 by GoldPass certificates representing physical gold held by The Perth Mint – the custodian of the physical gold which supports PMGT. This gold is securely stored in its central bank grade vaults and is guaranteed by the Government of Western Australia. For more information please visit: https://pmgt.io/
InfiniGold is a leading precious metals digitisation company that has developed a platform for the digitisation of gold and other precious metals. A spinout from Rozetta Ventures and part of the RoZetta Group (www.rozetta.com.au, formerly Capital Markets CRC), the technology underpinning InfiniGold’s digital gold certificates is co-developed with other Rozetta Institute companies. It is also used to issue electronic cash and for the trading, clearing and settlement of unlisted securities. The core InfiniGold team previously developed SMARTS, the global leading market surveillance business that was acquired by NASDAQ in 2010. For more information please visit: https://www.infinigold.com/
About Independent Reserve
Established in 2013, Independent Reserve is Australia’s most trusted cryptocurrency order book exchange and OTC trading desk. Over 150,000 customers from Australia, New Zealand and Singapore trust Independent Reserve to easily buy and sell Bitcoin, Ethereum, XRP and other major cryptocurrencies. Independent Reserve offers a range of innovative features, including insurance on crypto assets, AutoTrader, KPMG tax estimator, API integration and world-class security. www.independentreserve.com