Audit 2: Digix’s Gold Holdings Independently Audited — 100% accounted for on 19 October 2018
We had our second audit of the physical gold holdings in our custodial vault conducted on Friday, 19 October by our precious metals auditor, Inspectorate at Bureau Veritas.
Summary of the results of the audit report by Inspectorate
At the time of audit, we had gold holdings amounting to 157 physical bars held with our custodial vault, The Safehouse Singapore.
Inspectorate inspected the entire consignment of gold bullion and confirmed that the number, weight and purity of all 157 gold holdings matched those of the inventory list. There were no signs of tampering or damage of any packages storing any of the gold bullion.
These documents are attached to every bar on our asset explorer and is available on the IPFS here.
More information about Inspectorate and Digix
Bureau Veritas is a globally trusted and reputable institution that provides a range of services ranging from auditing, quality assurance to testing and analysis, for various industries. Inspectorate is part of their arm which specialises in services for commodities markets. They certify the quality and quantity of commodities traded and their certificates of analysis are trusted around the world (more information can be found here).
As emphasised in our ethos, Digix prides itself on ensuring that the entire lifecycle of the Proof of Provenance (PoP) process is completed in a fully transparent and publicly verifiable manner. The audit serves as a final step to the completion of the PoP lifecycle.
We recognise that audits of our gold holdings are important in boosting public confidence, especially in the current climate where much doubt has recently surfaced regarding whether there are actual and equivalent physical assets underlying asset backed tokens in general.
Digix hence publishes summaries of the quarterly audit results to show our transparency and good faith.
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