GoldPass smartphone app offers unique platform to securely buy, sell and transfer gold
PERTH, Australia–(BUSINESS WIRE)–The Perth Mint, one of the world’s largest precious metals refining, minting, storage and distribution enterprises, has launched its existing gold investment app GoldPass in the United States.
Now trading in USD, GoldPass allows investors to securely buy, sell and transfer gold at the touch of a screen, at any time and from anywhere.
Perth Mint CEO Richard Hayes considers gold to be an asset for every investor – from those beginning their wealth creation journey, to others with more established financial profiles – as it plays an essential diversification role in any balanced portfolio.
“In this increasingly uncertain world, the case for gold remains compelling,” Hayes said.
“GoldPass is a modern, secure and easy-to-use platform that investors across the U.S. may now use to build their exposure to this trusted asset.”
Gold has long been considered a safe-haven asset as it has historically performed better than other investment options during times of geopolitical and economic uncertainty. However, it has also proven to be a robust holding on its own merits.
Regardless of whether equity markets and other assets are at a high or a low, gold has steadily tracked upward over time. It is this consistency in performance and long-term stability that has generated renewed interest among investors today.
“We’ve certainly seen an increased appetite for gold among U.S. investors, particularly in the current climate,” Hayes remarked. “However, what has become more apparent is the need for a broader range of gold products and platforms to meet the demands of modern investors.”
Over the past year, The Perth Mint has watched a distinct trend emerge as new and younger investors turn to gold, particularly when it is offered via digital platforms.
“Technology is certainly changing the way people invest and manage their wealth,” Hayes said. “Security and peace of mind still underpin investment decisions. However, immediacy, convenience and accessibility have become equally important, and GoldPass offers all of these benefits.”
GoldPass allows investors to purchase gold, transfer their wealth to other users, redeem their digital gold for physical gold which can be delivered directly to their door, or cash out their digital investment.
A testament to its popularity, GoldPass has amassed more than 22,000 registered users since it was launched in Australia in 2018 with 80% of this growth generated in the last six months to August. The app offers investors:
- Minimum investments from as little as $1 (USD), allowing wealth to be built over time.
- Ability to transact in real time, 24/7 from anywhere in the world.
- Low cost with no storage fee or management fee.
- Visibility of live gold buy and sell pricing, pricing charts, and account balance in troy ounces and USD.
- Security in knowing that digital gold holdings are 100% guaranteed by the highly-rated State of Western Australia and backed by physical gold stored in central bank grade vaults at The Perth Mint, located in the geopolitically safe region of Western Australia.
About The Perth Mint
The Perth Mint is Australia’s largest fully integrated precious metals refining, minting and storage enterprise. Its operations, obligations and offerings are guaranteed by its highly rated sovereign owner, the Government of Western Australia.
The Perth Mint refinery is one of a select group globally that is accredited by the five major gold exchanges, being the London Bullion Market Association (LBMA), New York Commodities Exchange (COMEX), Shanghai Gold Exchange (SGE), Tokyo Commodities Exchange (TOCOM) and Dubai Multi Commodities Centre (DMCC). It processes the vast majority of newly-mined gold in Australia, which equates to more than 10% of the world’s annual gold production. In support of gold producers globally, its expansive operations offer the processing capacity in excess of 800 tons of gold per year.
The Perth Mint also operates the most extensive network of central bank grade vaulting facilities in the southern hemisphere, where it currently safeguards precious metals valued at more than USD4.75 billion on behalf of investors throughout the world. As one of Australia’s top-five manufacturers and Western Australia’s third largest exporter, The Perth Mint delivers some USD14 billion of precious metal bars and coins to 130 countries.