Skip to main content

Follow Us

Monthly verification of reserves report (April 2024)

Monthly verification of reserves report (April 2024)

June 13, 2024
June 13, 2024

IPMB is delighted to finally share our third Agreed Upon Procedure for Verification report from Grant Thornton. As of 29 April 2024, the total reserves backing the IPMB Token are approximately 8 tons of gold doré bar with an average purity of 93.32%, which correlates to a value of around $500 million. 

The monthly verification of reserves report reads as follows:

“as at 29th of April 2024, 8,041kgs of gold Dore bars belonging to the Company are held by them in custody. During the month of April 960kgs of gold Dore bars were added to the Company’s reserves held by Asar.

The average minimum purity of these bars as per the Custodial receipt has been verified by Asar’s lab technicians to be at 93.32% of 22+crt.”

To read the full report – Click Here

The Importance of this Report

This report proves crucial to the success of the IPMB Ecosystem.  It validates our reserves and confirms to our community that we are continuing our journey to build a new global payment standard and to be the leader in the tokenization of gold.

We will work with Grant Thornton to receive regular verification reports going forward. All reports will be available to view on our website here.

About IPMB

The IPMB Ecosystem offers direct access to physical gold, allowing exposure to the stability of gold and the speed and security of the blockchain through a dual-token model.  Through this innovation, IPMB is striving to change the gold industry forever.

IPMB’s mission is to provide the world access to unlimited economic freedom and opportunity, giving choice and control to accelerate a global transition to a low-cost, unified and transparent global currency.

‘From the mine to the vault, and in the cloud’, IPMB manages and operates physical gold production, sourcing, beneficiating, exporting, refining, stamping and vaulting of gold.

The IPMB Ecosystem is at the heart of the IPM Group, a group of companies spanning three continents and five countries.