Goldmint PTE. Ltd (Singapore) and CyberBridge OU (Estonia) are the companies which belong to the same GOLDMINT group with the same sole founder.
CyberBridge OU is the first company incorporated by the Group for the purpose of GOLD token sales in different jurisdictions (i.e., Europe).
CyberBridge OU performs monthly audit of monetary funds placed at CME and SGPMX to back the emitted Gold tokens, 1st audit results to be published on May 1st, 2018.
Besides that, Goldmint PTE. Ltd issues MNTP tokens.
In its work with tokenized (digitized) physical gold (GOLD token), Goldmint uses several types of counterparties:
Let's take a brief look at each group separately.Exchange broker
Wedbush (wedbush.com) is one of the oldest American stock brokers. The agreement with Goldmint PTE Ltd. provides brokerage services for CME (Chicago) and LME (London), focusing on work with delivery futures and options for precious and industrial metals. Of course, full range of traded instruments is also available.
At the time of expiration (expiration of the effective date), the delivery futures are converted into the equivalent quantity of the underlying commodity (in our case, this is gold in ingots with a quality of at least 995). CME stores goods in the two nearest banks of the Federal Reserve System - FRBC (Chicago) and FRBNY (New York). LME has its own stock exchange for precious metals.
This stock can be moved through a certified cash collection company (Brinks - see below), mortgaged or sold. Sale can be carried out both on the stock exchange by selling the delivery futures, and in the OTC market (for example, LBMA).General Broker
Standard delivery futures for gold has a denomination of 100 troy ounces, there are fewer delivery futures with a nominal value of 1 kg (32 troy ounces). There are futures for 10 troy ounces, but already non-deliverable (index). To meet the needs of retail buyers of the GOLD token, it is necessary to purchase gold instruments with a denomination of 1 to 10 ounces or hedge appropriate exchange rate risks. For this purpose, the European broker, Danish Saxobank, is used. It also planned to hedge currency positions when selling GOLD to a customer for a currency other than the US dollar - Euro, Swiss franc, British pound, Singapore dollar, etc.OTC market (SGPMX)
Through the Singapore stock exchange SGPMX Goldmint carries out operations on buying / selling gold on the over-the-counter market. The price here is slightly more expensive than at stock exchanges, but delivery (and sale) is instantaneous. SGPMX provides the ability to store physical gold in one of its 4 stores, which attracts our customers from Southeast Asia and contributes to their confidence.
Also through SGPMX, Goldmint carries out transactions for the exchange of GOLD tokens of physical gold. The client, having opened an account with SGPMX, can purchase gold and change for GOLD tokens. Or, bring in SGPMX investment gold (coins, bullions, etc.) and also change them for GOLD tokens. In this case, physical gold acts as one of the forms of currency.Brinks and other cash collection companies
American Brinks is the oldest company that provides in-cassation, transportation (worldwide), insurance and storage of precious metals, jewelry, other valuables. Through Brinks, Goldmint can instantly transfer any available amount of gold to another Brinks customer (physical delivery to the desired point will, of course, require time and brings in additional costs). Goldmint can also accept physical gold from the customers of Brinks and exchange it for GOLD tokens (tokenize, digitize).
All exchanges in the part of physical supply serve clients Brinks. SGPMX is also the customer.