ozt. is a digital token, with each token representing the holder’s ownership entitlement to one (1) troy ounce of allocated “Good Delivery” gold (“Gold”) as specified by the London Bullion Market Association. The Gold is stored in the vaulted premises of reputable professional custodians. The value of ozt. is therefore linked to the market value of the Gold it represents.

The total supply of ozt. in circulation is directly proportional to the total amount of Gold at a 1:1 ratio – essentially, one (1) ozt. token is equivalent to one (1) troy ounce of Gold.

As the market capitalisation of ozt. fluctuates, the corresponding amount of physical Gold representing ozt. also changes.

Yes, it is possible to own small fractions of an ozt. token, which can be divided up to eighteen (18) decimal places.

When purchasing ozt. directly from us, the minimum amount you can buy is one (1) ozt. token, which works out to be around SGD 3,200.00 (i.e. USD 2,500.00) in September 2024.

When you purchase Gold represented by ozt. tokens, you acquire ownership rights to a specific gold bar (or relevant portion thereof) stored in the vaulted premises of a reputable professional custodian. Each allocated gold bar can be identified by its unique serial number.

In contrast, when a customer trades for unallocated gold, they do not own specific gold bars. Instead, they hold a general entitlement to a certain quantity of gold that the seller promises to deliver.

Whenever ozt. tokens are sent on the blockchain, we charge a transfer fee, being the higher of (a) 0.25% of the total number of ozt. token(s) sent on the blockchain or (b) a flat fee of 0.0025 of an ozt. token (such fee being the “Transfer Fees”). So, for example, if you want to receive 10 ozt. tokens, you should purchase more than 10.025 ozt. tokens to cover the Transfer Fees. If you place an order of 10 ozt. tokens with us, you will only receive 9.975 ozt. tokens after Transfer Fees.

Whenever ozt. tokens are redeemed for physical gold, in addition to the Transfer Fees, we also charge a fee of 1.00% of the total number of ozt. token(s) sent on the blockchain in connection with such physical redemption (the “Physical Redemption Fee”).

We do not charge any other fees (including, gold storage fees or verification fees) at this time.

Just like any other digital token, the transfer of ozt. tokens on the blockchain requires standard “gas fees”. Such fees are not paid to or collected by us.

ozt. is available as an ERC-20 token on the Polygon blockchain with token contract number: 0xA20cc22Dd7683398f5D764332F8C541B6062E576

To purchase, sell and/or redeem ozt. tokens through our platform, you must (a) first log in / sign up on our website, (b) verify your identity (whether as an individual or as a corporate entity) and (c) provide us with the wallet address you wish to receive ozt. tokens on or send ozt. tokens from, as the case may be. You may also deal in person at our office in Singapore, with such dealings being strictly “by appointment only”.

We will only do business with persons who have provided all necessary and relevant information requested by us to comply with “know your customer” and “anti-money laundering” or similar procedures under all applicable laws including, but not limited to, the Precious Stones and Precious Metals (Prevention of Money Laundering and Terrorism Financing) Act 2019 and the Precious Stones and Precious Metals (Prevention of Money Laundering and Terrorism Financing) Regulations 2019.

It is important that you are aware that there is no market for the trading of ozt. tokens. You may, in general, only (i) sell your ozt. tokens back to us; or (ii) subject to certain conditions, redeem your ozt. tokens for physical Gold bars. ozt. tokens are not money or legal tender and are not monetary instruments. ozt. tokens are not, and are not intended to be, a medium of exchange accepted by the public (or a section thereof) as payment for goods or services or for the discharge of a debt. We have no plans to list ozt. tokens on any platform that facilitates the trading of ozt. tokens for other assets, including digital assets and fiat currencies.

We prefer all payments to be made by bank transfer.

We accept payments in cryptocurrency (such as Bitcoin, Ethereum and USDT), although surcharges will apply.

We also accept cash payments (in Singapore Dollars) at our office in Singapore.

The Accounting and Auditing Organisation for Islamic Financial Institutions (“AAOIFI ”) Shari’ah Standard (No. 57) on Gold (the “Shari’ah Standard on Gold ”), which was developed in collaboration with the World Gold Council, offers definitive guidance on the use of gold in Islamic finance. The AAOIFI is recognised as the world leader in Islamic finance standards, and its rulings are widely accepted across many Islamic markets.

ozt. is fully compliant with the Shari’ah Standard on Gold, and we are in the process of obtaining global Shari’ah certification.