South African startup Troygold, which digitises gold bullion and Krugerrands, has partnered tokenised financial assets exchange Mesh.trade to sell Bullion Krugerrand Tokens on its platform.
Founded in 2018 by brothers Bastiat and Dane Viljoen, Troygold digitises gold bullion and Krugerrands and then allows customers to buy, sell, spend and borrow against their gold. Vaulted gold bars or coins with serial numbers are digitised via Troygold’s system, offering whole or fractional ownership.
Troygold’s Krugerrand tokens on Mesh represent physical gold holdings, which are stored in Brink’s in Johannesburg, a globally recognised secure vaulting facility. By tokenising the Krugerrands, Mesh allows investors to buy fractions of a whole ounce (oz) coin, starting from a minimum investment threshold of R50.
“All Troygold’s customers’ gold holdings are fully allocated, meaning you are buying either a whole or a fraction of an actual gold bullion Krugerrand,” Troygold and Mesh said.
“Even if you purchase a fraction of a 1oz coin, you are allocated as a co-owner of a gold bullion Krugerrand coin securely vaulted at Brink’s.”
The companies said customers can download audited monthly attestations of reserves detailing the number of Krugerrand coins allocated to Mesh clients in the shared RMB and Troygold vault at Brink’s.
