In conjunction with Scottsdale Mint, an end-to-end precious metals provider, customers will be able to buy, sell, store, transfer, trade, redeem, monetize, and collateralize their holdings within the platform.
SINGAPORE, June 29, 2021 /PRNewswire/ -- Singapore Precious Metals Exchange (SGPMX), the world's first 100 percent physically-backed precious metals exchange, has teamed up with Scottsdale Mint, a manufacturer of precious metal products to 20+ foreign governments, private banks, investors, collectors, and 3rd party bullion dealers to officially launch its Stacker Market™ platform. The platform will allow account holders to buy and sell physically backed, fractionalized gold and silver. Stacker Market™ will feature free storage, transfers in/out, trade, redemption, monetization and collateralization of gold and silver holdings, while instantly preserving client wealth in physical bullion.
Retail and accredited investors continue to seek alternative assets to diversify their investment portfolios amidst the current global economic uncertainty and the volatility of cryptocurrencies. Recently, there has been a flight to gold and silver on the back of near record prices, further solidifying precious metals' long held reputation as a 'safe haven' investment.
From Bars to Bucks
Scottsdale Mint, a precious metals manufacturer based in Arizona, USA, is SGPMX's official partner for Stacker Market™. Customers will be able to purchase fully backed physical gold and silver on the platform. Customers will also be able to transfer-in their existing physical holdings from anywhere in the world to be on-boarded within Stacker Market™. Physical precious metals will be stored at no cost, fully insured, at SGPMX's headquarters, the highly secure Le Freeport facility in Singapore, as well as secure storage facilities in Hong Kong and Zurich. All Stacker Market™ account holders will be able to redeem their physical holdings at any time or transfer sales and trade proceeds to their bank accounts. Customers can also instantly transfer their physical holdings to another Stacker Market™ user.
"We're thrilled to partner with SGPMX to launch Stacker Market™," said Josh Phair, CEO of Scottsdale Mint. "We have a rich history when it comes to the design, manufacture and distribution of high-quality bullion to investors, collectors, private banks and bullion traders worldwide, handling billions in physical gold and silver over the last decade. Our physical infrastructure is the perfect complement to SGPMX's technological offering, and we look forward to helping investors diversify their portfolios with bullion during these uncertain economic conditions. The digital future of gold and silver investment is here."
Polishing the Details
Customers of Stacker Market™ will be able to trade their fully insured and segregated physical bullion holdings in denominations of $0.01 USD. The platforms minimum trade size is $1.00 USD, redeemable for withdrawal in physical fractions as small as 1 gram and as large as 100 ounces. Stacker Market™ offers instant liquidity for clients at prevailing spot prices, connecting a global network of buyers and sellers of physical precious metals. The platform will also boast low transaction fees of 1 percent for gold trades and 1.5 percent for silver trades, with no storage fees. Institutional programs and rates are available for corporate treasury accounts.
In a bid to offer more value to both existing and prospective customers, Stacker Market will also provide free storage of their physical holdings at the secure vault within Le Freeport. For individuals who have existing bullion at home or in other markets, can bring in their holdings, or have them shipped over for a free authenticity test.
"We're excited to partner with Scottsdale Mint to launch Stacker Market™ for all investors," said Victor Foo, Chief Executive Officer and Co-Founder, SGPMX. "At SGPMX, we've had resounding feedback for our proprietary Asset Conversion Exchange platform with our existing clientele and Stacker Market™ is an evolution of that. Amidst the stock market volatility and digital asset skepticism, over 100,000 investors flocked to our platform seeking the security that only physical bullion can offer. By partnering with Scottsdale Mint, we can augment our technology offering with their physical infrastructure. We provide investors with end-to-end services offering speed, liquid and physical security within a unified ecosystem, so that they can maximize their returns."
A Physically Backed Exchange that Lets You Spend and Offers You Credit
Stacker Market™ will allow investors the opportunity to set up automatic and recurring purchases on the platform. Akin to how one would implement a monthly savings plan with a bank, users have the option to save a fixed monthly amount in both gold and silver. Just like an Exchange-Traded Fund (ETF), the bullion can also be held on the platform to grow in value over time in line with the evolving prices of gold and silver. Picture this: a child could contribute a dollar from their allowance every single day and through dollar-cost averaging, be the proud owner of a 1g gold wafer in just 3 months.
As a value-added benefit, customers can monetize and spend their holdings. Stacker Market™ is partnering with a globally accepted card provider to offer its customers a pre-paid debit card that is linked to their Stacker Market™ accounts. Aerapass is the appointed program manager & financial service platform of choice for the pre-paid debit card program offered by SGPMX. Customers will be able to liquidate their holdings and spend instantly using their pre-paid debit cards within mobile wallets and payment platforms like Google Pay. The multi-currency card offers competitive foreign exchange rates with low spreads.
For accredited investors that need access to credit, Stacker Market™ can offer them a solution. Partnering with Fairshore Asset Management, a Singapore-based, Monetary Authority of Singapore-regulated asset manager and holder of a Capital Markets Services License, Stacker Market™ customers will be able to finance their positions by collateralizing their holdings. This gives them quick access to capital, or the funds required to raise their precious metal holdings.
Stacker Market™ is available at https://www.stackermarket.com/.
About Singapore Precious Metals Exchange
Established in August 2011, SGPMX is the world's first physical bullion exchange established for investors, traders, and institutions to trade physical precious metals like gold and silver with physically backed bullion storage facilities. It provides consolidated offerings for customers to buy, sell, store and exchange precious metals under one platform, and is privately held and independently funded.
About Scottsdale Mint
Scottsdale Mint designs, manufactures, and distributes exceptional precious metals products to 20+ foreign governments, private banks, investors, collectors, and 3rd party bullion dealers.
About Stacker Market™
Stacker Market is a precious metals trading, investing, transferring, and spending platform all in one. We are taking the best of ETFs, Futures Contracts, Physical Ownership, and Banking and combining them into one easy to use platform. Stacker Market™ is a 100% wholly owned subsidiary of Singapore Precious Metals Exchange (SGPMX).
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