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Monthly verification of reserves report (May 2024)

Monthly verification of reserves report (May 2024)

June 18, 2024
June 18, 2024

IPMB is delighted to share another regular verification of reserves report based on agreed-upon procedures from Grant Thornton.  As of 31 May 2024, the total reserves backing the IPMB Token are approximately 10 tons of gold doré bar with an average purity of 93.32%, which correlates to a value of around $700 million. 

The monthly verification of reserves report reads as follows:

“ as at 31 st of May 2024, 10,081kgs of gold Dore bars belonging to the Company are held by them in custody. During the month of May 2,040kgs 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 further validates IPMB’s legitimacy and continued dedication to maintain trust and transparency. 

We will continue to work with Grant Thornton to receive verification reports. 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.