Blockchain technology creates an immutable record that validates the value of gold in the vault with the digital gold in your wallet
How it works
Upon purchase of each xbullion token, 1 gram of 999.9 gold is deposited into the vault and recorded against your token.
All bar serial numbers and ownership details are recorded on the blockchain and form part of the audit report completed by BDO.
xbullion offers redemption in amounts of 1kg upon the surrender of tokens. Pick up is available with 5 business days notice, or for an additional fee, can be insured and couriered to major cities throughout the world.
Buying, Minting & Redemption
We are able to send your tokens to an ERC-20 compatible wallet, or xbullion compatible exchange quickly and easily.
We are able to provide you with a physical cryptocurrency wallet containing your purchased xbullion tokens as a service, so you can easily store your tokens.
xbullion can be stored offline on a memory stick, or cold wallet. You will have confidence in knowing xbullion is secured by the full backing of allocated, audited and insured gold bullion.
New tokens are minted upon successful purchase and bullion deposited in our secure vault. Registered users can request to mint a new token at any time using the bullion spot price, plus a 30c minting fee to cover gold bar and other costs.
The minting portal is due to launch in Q1 2020 allowing users direct access.
Existing tokens are able to be transferred or redeemed for digital and fiat currency through any partnered exchange or peer-to-peer transaction. xbullion tokens can be redeemed for gold bullion by starting the redemption process online.
The xbullion redemption process allows any registered client to arrange to collect their gold bullion from the vault, or arrange to send to major cities globally via insured courier. The xbullion redemption process is expected to launch Q1 2020.