Monthly verification of reserves report (July 2024)

IPMB is delighted to share another regular verification of reserves report based on agreed-upon procedures from Grant Thornton.  As of 30th of July 2024, the total reserves backing the IPMB Token are 10,531kgs of gold doré bar with an average purity of 93.32%, which correlates to a value of around $780 million. 

The monthly verification of reserves report reads as follows:

“ as at 30th of July 2024, 10,531kgs of gold Dore bars belonging to the Company are held by them in custody. During the month of June NO 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. IPMB holders can rest assured that reputable third parties are verifying the amount and quality of the gold backing the IPMB Ecosystem. 

We will continue to work with Grant Thornton, one of the world’s largest professional services networks of independent accounting and consulting member firms, to receive verification reports, shareable to our community. 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.