In early October, Western Australia’s Perth Mint announced a new smartphone app – GoldPass™. At the touch of a smartphone screen, the app allows retail investors to securely buy, store, and sell gold via digital certificates. It also provides for the instantaneous transfer of gold to other approved GoldPass™ users.
Further, GoldPass™ not only allows investors to buy unallocated Perth Mint gold but to redeem their digital certificates for physical gold or cash at any time.
The app’s interface shows an investor’s digital certificate balance in ounces along with any cash holding – in the same way account balances are provided in online banking.
All GoldPass™ digital certificates are 100 percent backed by physical Perth Mint gold stored in its network of central bank grade vaults. The weight and purity of every ounce is guaranteed by the Government of Western Australia.
GoldPass™ is now available for free download for Android and iPhones on GooglePlay and the App Store. While the app is available internationally, it is currently geared to use Australian dollars only. This requires investors to have a registered Australian bank account that provides essential BSB identification and an account number. International currency options are a work in progress. At the time of writing, the timeframe for these is unknown.
For further details, check out The Perth Mint’s website: www.perthmint.com/.
This article was originally printed in World Coin News. >> Subscribe today.
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