Ethereum blockchain-based company Orocrypt OCG tokens are 100% backed by gold bullion and each represents ownership of 30 grams of fine gold.
Orocrypt will charge a 1% commission fee over gold spot price on the sale of one token or more. There is also a 0.04% transfer fee when the tokens are transferred between wallets. The commissions for purchases involving less than one OCG token range between 5% ( for 0.9 to 0.5 tokens) and 10% (for purchase between 0.1 and 0.5 tokens).
The OCG tokens can be easily traded with Orocrypt or P2P. The company intends to apply for listing in selected decentralized exchanges.
Orocrypt has made sure that all aspects of the token issuance, including holding client funds, issuing digital tokens, procuring and storing gold are open and auditable.
To reduce the risks of adverse legislation in any one jurisdiction, Orocrypt will have the bullion stored in secured vaults around the globe. Swiss Gold Safe AG vaults are located in Zurich, Byzantium’s vault is located in the Cayman Islands, while OZL AG vault is in Liechtenstein.
The Orocrypt board is comprised of experienced former bankers, stockbrokers, accountants and senior business professionals. The Swiss and Liechtenstein vaults will be audited by Societe de Surveillance SA.
The bullion gold will be sourced from Rheingold-Edelmetall Liechtenstein and Byzantium Cayman Islands.
Orocrypt complies with all Panamanian regulations, including the ones concerning precious metals merchants and those established by the Sujetos Obligados No Financieros, of the Ministry of Economy and Finance.
The Superintendencia del Mercado de Valores has issued a No Action opinion on Orocrypt’s business.
Orocrypt is a company that will issue tokenized precious metals vault receipts.