How does InfiniGold work?
InfiniGold is a low-cost, low-risk alternative to building a proprietary gold business and is available via an API for integration into existing mobile banking or other institutional architecture, or as a fully functional white-labelled or InfiniGold branded mobile app. Infinigold gives investors a simple, seamless way to add gold to their investment portfolio.
From an investor's perspective, the process works like this:
- The investor deposits cash currency from their registered bank account into their InfiniGold account, which appears in their app as available cash balance to purchase InfiniGold.
- When the investor wishes to purchase physical gold, they enter a buy order into the marketplace for digital gold certificates – representing actual physical gold in The Perth Mint’s vaults. The certificates appear immediately in their Infinigold app and each can be individually verified against The Perth Mint’s record of physical gold allocations.
- Every digital gold certificate issued is unique – each one is only issued once and cannot be replicated, ensuring ownership in gold remains with the holder of the certificate
- The reverse occurs when a Sell order is placed by an investor, immediately settling into the investor’s InfiniGold app as cash which can be withdrawn into their registered bank account.
Why build a platform using InfiniGold
InfiniGold is an intelligent gold business solution for institutions. It allows individual investors to hold physical gold, without the cost or risk of building and running a proprietary gold business.
InfiniGold gives investors ownership of physical gold stored at The Perth Mint, one of the world’s largest refining mints. The Perth Mint processes and distributes A$18 billion in precious metals to more than 100 countries around the world each year, and is a statutory authority of the Government of Western Australia - whose domestic debt is rated AA+ by S&P and Aa2 by Moody's. The liabilities of The Perth Mint, including its obligations to InfiniGold Certificate holders under the InfiniGold product terms and conditions, are guaranteed under section 22 of the Gold Corporation Act 1987, an Act of the Western Australian Parliament.
InfiniGold is based on a robust proprietary technology that is specifically designed to produce digital certificates of ownership over any physical or digital asset. Our platform is built to international bank security standards, and can be integrated swiftly and seamlessly into third-party systems.
InfiniGold is the closest an investor can get to buying physical gold in a digital form– much closer than ETFs or other products based on futures, leveraged positions, future production, or gold held by solution providers. Investors can opt to collect their physical gold from the Mint, or have it delivered to just about anywhere in the world, and can also verify their holdings against The Perth Mint’s records of ownership at any time.
InfiniGold has been built by a team with decades of experience in gold, finance and technology, giving us unique insight into how these sectors can work more efficiently together. InfiniGold's technology has it's origins from the team's experience in digital currency. The InfiniGold team includes key members of the Capital Markets CRC which is known for its research commercialisation activities, and has extensive experience including leading the invention and commercialisation of wi-fi technology; building the capital markets surveillance technology used in the world’s largest and most sophisticated markets; guiding major banks in CEO and executive positions; and running global FX and gold businesses.
Unique cryptographically-secured digital certificates are issued giving investors ownership over specific pieces of physical gold in The Perth Mint's vaults. Infinigold is built on a technology platform ideally fit for purpose for institutions to offer gold to their investors in a low-cost, low-risk way.
InfiniGold certificates are portable, verifiable and fungible. Gold is traded and settled in real time and 24/7, based upon the gold price at The Perth Mint who accesses the international gold markets. Issued InfiniGold certificates are stored within a digital vault, accessible only by the owner, and always verifiable against The Perth Mint's records. Subject to local jurisdictional legislation, InfiniGold certificates can also be transferred peer-to-peer directly through a mobile app.