The Perth Mint has launched an exciting new smartphone app – GoldPass™ – during the opening day of Precious Metals Investment Symposium 2018.
At the touch of a smartphone screen, GoldPass™ gives retail investors the unique ability to securely buy, store and sell gold via digital certificates. The app also allows the instantaneous transfer of gold to other approved GoldPass™ app users.
The Mint’s latest secure investment platform, powered by InfiniGold technology, offers investors the innovation combined with the flexibility and convenience of being able to manage their wealth at any time.
All GoldPass™ digital certificates are 100 percent backed by physical Perth Mint gold stored in its network of central bank grade vaults, with the weight and purity of every ounce guaranteed by the Government of Western Australia.
“With the uncertainty and speculative nature of cryptocurrencies with no asset backing their value, investors are always keen to discover innovative and credible vehicles through which to safely protect the worth of their portfolios,” said Perth Mint Chief Executive Officer Richard Hayes.
“With many commentators suggesting that digital gold products are expanding the market for gold investment, there is a distinct rise in the demand for trusted modern and contemporary means of exchange,” said Mr Hayes.
GoldPass™ digital certificates are an alternative to cryptocurrency investments and will pave the way for gold to be used as an easy and convenient store of wealth with the ability to also transfer gold to other approved GoldPass™ users.
“InfiniGold’s technology is innovative and has also been specifically tailored to digitise Perth Mint gold to satisfy the demands of investors,” said InfiniGold Chief Executive Officer Andreas Ruf.
"We're delighted The Perth Mint chose InfiniGold technology to power GoldPass™ and equally excited to be able to give investors a simple, seamless and secure way to add gold to their asset portfolios,” said Mr Ruf.
“Gold is a tangible and trusted store of wealth with a long, strong history,” continued Mr Hayes.
“We are making this traditional asset more accessible, trades immediate and revolutionising how customers transact in real time with other GoldPass™ app users. This is a significant leap forward in gold exchanges globally.”
An investor’s digital certificates, which reflect their gold balances in ounces, will be visible in the app’s interface along with any cash holding in the same way that balances are seen on an online banking system.
Using GoldPass™, investors may buy Perth Mint unallocated gold and redeem their digital certificates or ounces for physical gold or cash at any time.
The Perth Mint GoldPass™ app offers another dimension to the expansive range of innovative investment and storage solutions offered by The Perth Mint for 25 years.