Techemynt announced the launch of GoldNZ and SilverNZ, tokenized precious metals backed by physical bullion in New Zealand. The company develops blockchain-based digital asset products.
GoldNZ and SilverNZ are backed by fully allocated gold and silver stored at Commonwealth Vault. The company provides secure vault storage in New Zealand and Australia. Techemynt selected Commonwealth Vault as its storage partner.
Verified holders who purchase tokens directly from Techemynt must complete customer due diligence in line with the Anti-Money Laundering and Countering Financing of Terrorism Act 2009 of New Zealand. After issuance, GoldNZ and SilverNZ tokens can be transferred on-chain without restrictions.
Holders may redeem tokens for physical bullion under the company’s terms and conditions or sell them on a secondary market. The first mint to supply the web3 market is expected within two to three weeks.
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