Key Features
GOLDp is a digital asset. Each GOLDp token is equal in value to 0.01 grams
of physical gold. This physical gold functions as the asset’s backing and
is comprised of globally valid bullions, produced by refineries accredited
by the LMBA, with a fineness of 995 (0.995 purity). Storage of each token
physically takes place in the accounts of corresponding Loco London banks
and the official vaults of Borsa Istanbul Precious Metals and Diamond
Markets via Golden Global Bank.
GOLDp is aimed at providing a liquid board and competitive prices by taking into account a range of indicators such as transaction volumes, costs, board liquidity, margins, and investors’ access to other gold products. In line with this objective, GOLDp utilizes an arbitrage strategy that monitors spot gold prices and plays a market maker role in carrying out the necessary transactions to prevent any price differentials between the spot gold market and token price. By the virtue of this system, GOLDp owners can easily convert their tokens to cash or other cryptocurrencies whenever they want—all without being exposed to large margins and costs.
Since GOLDp tracks Loco London spot gold prices, it can be used as a hedging instrument inside portfolios of institutions and individuals. It can even be traded when spot markets are closed and thereby grants even more flexibility to investors. In exchange for a minimum of 400 troy ounces, investors can request delivery of London Good Delivery bars equivalent to the GOLDp they possess via contacting www.pontegold.com. These large bars are refined by the LBMA refineries to have a minimum fineness of 995 and a weight of 350-430 troy ounces. Physical delivery takes place after the completion of KYC processes and payment of operational costs.
Storage Conditions
Equivalent gold to each GOLDp is accounted in the bank vaults or bank
accounts by Ponte Global. Every single bullion stored possesses its own
unique registration document created by Borsa Istanbul. With respect to
the contract between Golden Global Bank and Ponte Global, the backed
gold kept in Ponte’s accounts in Golden Global Bank are physically stored
in the official vault of Borsa Istanbul Precious Metals and Diamond Markets.