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GBI is proud to announce that its premium digital gold-backed currency, the “XAU”, is nowtrading on the Ripple protocol. The XAU represents a historic milestone for gold – both enabling digitized gold investment as well as the ability to use gold as money for remittances and payments at over 80,000 merchants that accept Bitcoin. By using the XAU on Ripple, physical gold can be converted into dollars, euro, pounds or any other unit of value that is the preferred choice of the merchant of transferee. Moreover, an XAU can be converted back into physical gold stored in GBI’s Singapore vault and later made available for delivery.
Each XAU product is backed by LBMA approved kilogram (32.148 oz) bars stored in our secured and fully insured vaults in Singapore. 1 XAU represents 1oz of each bar. GBI receives a 30bps fee on the value of each transaction as a transfer fee.
For clients who would like to purchase XAU’s via the Ripple Trade client, please follow these
To redeem a full XAU for a 1oz gold bar, you will need to open an account with GBI which is simple.Just click on this link. The steps below explain step by step how to convert your XAUs into physical 1oz gold barsstored in GBI’s Singapore vault.
GBI will receive notification of the redemption and credit the client account with 1oz gold bars in Singaporeequal to the quantity of XAU’s sent. Redemptions are processed within 2 business days following the NYSE business day calendar.
GBI LLC is the most secure, efficient and cost effective option for investors and institutions to purchase and manage physical precious metals. GBI’s proprietary technology and operations platform allows retail investors to acquire and manage their precious metals assets either directly or through their Financial Advisor relationship.
Our team has designed and implemented a fully integrated, flexible platform that provides seamless order entry and execution, effective logistics management, state of the art technology and best in class client service. We have partnered with Brinks, Via Mat, Malca-Amit, KPMG, a variety of Dealers/Refiners/Bullion Banks, and Bank of America to develop and implement a comprehensive physical precious metals solution.
For detailed information on the advantages of precious metals and our services, please contact us.