GoldMint is a blockchain-based platform controlled by the digital resource GOLD, which is 100% supported by physical gold or delivery future. In this way, one digital GOLD resource costs the same as an ounce of gold on the Chicago Mercantile Exchange (CME).
GoldMint’s physical gold is stored in the US Federal Reserve System’s banks, and in Singapore’s SGPMX caretakers. For affirmation, GoldMint completely expects on continually ensuring that its gold reserves are always equal to or above the quantity of GOLD held by its customers.
The undertaking that it runs on the GoldMint blockchain is 100% upheld by physical gold or delivery future which can be utilized as a trust administration or investment instrument for distributed credits and activities with gold. The company is said to run a transparent, quick and secure payment tool.
GoldMint PTE LTD itself is a Singapore blockchain startup that has significant experience in gold tokenization. The organization effectively finished its underlying coin offering (ICO) in 2017 and raised $7 million.
The company works with two resources: gold-secured GOLD and MNTP tokens, which is utilized as a part of the GoldMint locker to affirm transactions. Furthermore, MNTP token holders gain access to special commissions for tasks with GOLD resources.
As of April 12, GoldMint clients may purchase and offer GOLD coins on Bancor utilizing at least one of the 50 bolstered cryptocurrencies. GOLD is also accessible on Simex (Singapore International Monetary Exchange and IDEX (Decentralized Ethereum Asset Exchange).