Perth Mint, InfiGold Launch Gold-Backed Token on Public Blockchain
Australia’s largest precious metal refinery, the Perth Mint, and InfiGold, a fintech startup focused on precious metals digitization, have jointly launched a gold-backed digital token.
The new ERC-20 token is dubbed Perth Mint Gold Token (PMGT) and pegged 1:1 with GoldPass certificates issued by the Perth Mint, according to a press release shared with Cointelegraph on Oct. 11. GoldPass lets investors purchase, sell and transfer physical gold through digital certificates, where each certificate is 100% backed by Perth Mint gold stored in its network of central bank grade vaults.
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