What is redemption and why would I want to do it?
UPXAU is a crypto token backed by pure physical gold held in reserve at the Perth Mint In Australia. Each token is backed by 1 Troy Ounce of pure gold. Redemption allows you to exchange your UPXAU tokens for the underlying physical gold and have it delivered to an address of your choice.
Most customers won’t want to redeem their UPXAU Tokens because they’ll lose all of the major benefits, including:
- Digital portability
- Immediate liquidity
The reason we are offering a physical redemption service is to demonstrate the integrity of the Token and to prove that each one is indeed backed by 1 oz of pure physical gold.