December 11, 2023

Australia Mint supported gold token issue

Australia Mint supported gold token issue

Australia's oldest gold mint guarantees 1: 1 gold security for the Perth Mint digital token launched today by InfiniGold.

The government of Western Australia decidedsupport the stablecoin linked to the precious metal and will provide GoldPass digital certificates, allowing investors to trade in real time. Tokens are developed on the basis of Ethereum.

Perth Mint will be a blockchain alternative to popular investment products such as ETFs. Since its underlying physical asset is gold, the PerthThe mint expects the token to be in high demand as a convenient risk diversification tool amid a slowdown in US economic growth and a weakening dollar.

This will also be supported by the good reputation of the Western Australian government: AA1 rating from Moody's.