"Where's my gold actually held, and how do I know it's real?" is usually the first question anyone asks before buying digital gold and it should be. Here's exactly how RamMudra™ handles storage, ownership records, insurance, and verification, and where digital gold's risks differ from a SEBI-regulated product.
Is digital gold safe?
It is understandable to be concerned about the safety of your gold when it is not in your custody.
With RamMudra™, the physical gold backing your digital holding is stored securely with a custodian. Blockchain-backed ownership records are designed to make ownership and transaction records more transparent and tamper-evident.
Where is RamMudra™'s gold stored?
RamMudra™'s physical gold is securely stored in bank-grade, insured vaults with a trusted custodian. The gold is held securely and forms the physical backing for your digital gold holdings.
How is my gold protected?
RamMudra™ uses secure custody arrangements for the physical gold backing your holding. The gold is held independently bound by stringent contract terms and cannot be accessed by any party for any purpose. The structure also includes a Security Trustee arrangement, designed to safeguard customer interests and support customer claims and requests.
How is my gold ownership recorded?
Your gold ownership is recorded digitally against the quantity of gold in your account. RamMudra™ uses blockchain technology to create tamper-evident records of ownership and transactions, making your gold ownership easier to verify.
Why does RamMudra™ use blockchain?
RamMudra™ uses blockchain to create a transparent and tamper-evident record of gold ownership and transactions. The purpose is simple: to make ownership records easier to verify and give customers greater visibility into their gold holdings.
Can I verify my RamMudra™ digital gold ownership?
Yes. RamMudra™ allows customers to verify their gold ownership within the RamMudra™ app, and independently on the blockchain.
What happens to my gold if RamMudra™ stops operating?
RamMudra™'s structure includes custody and Security Trustee arrangements designed to safeguard customer interests. Your gold is held with an independent custodian and is separate from RamMudra™'s operating assets. If RamMudra™ were to face insolvency or discontinue its service, the security trustee will arrange for your gold holdings to be transferred, sold or redeemed in your favour in accordance with the applicable terms and legal framework.
This structure is designed to protect customers.
Is RamMudra™'s digital gold insured?
Yes. The physical gold backing RamMudra™ digital gold is stored in insured vaults with a custodian. The insurance provides protection against specified risks to the physical gold, subject to the terms and conditions of the applicable insurance policy.
The takeaway
RamMudra™'s safety case rests on a few things: physical gold held with a custodian rather than just recorded in a database, blockchain records you can check yourself rather than take on trust, insurance on the vaulted gold against specified risks, and a Security Trustee structure designed to protect customer interests if something goes wrong.
