The company AgAu AG was founded in 2018 and borrowed its name from the merger of the two atomic symbols “Ag” (for Silver) and “Au” (for Gold). As AgAu we plan to issue digital tokens corresponding to the direct ownership of allocated silver and gold bullions in Switzerland. We aim to be the easiest way to transact the direct ownership of allocated and redeemable physical LBMA quality gold and silver. The precious metals are audited and secured in regulated private vaults outside the banking system.
“Switzerland has a historic relation with gold, the country has long been considered the safest jurisdiction in the world for privacy and private property laws. We aim to merge the best of Switzerland: Commodity Trading (Gold & Silver), Banking and FinTech/Blockchain in one powerful idea: AgAu” – said Thierry ARYS RUIZ
Infusing Blockchain and Smart Contract technology, We have overcome the impracticality of owning LBMA quality physical precious metals and disintermediate points of failure. Unlike other solutions, we purposely avoided the use of a multitude of ownership layers via trusts, funds, traditional venues, other forms of custody or centralized protocols.
This unique model allows for electronic direct ownership and transfer of physical and allocated LBMA Good Delivery quality gold and silver.
The Swiss Financial Market Supervisory Authority (FINMA) has classified AgAu tokens as an asset token not being a security but being validated as a payment token as per the latest FINMA ‘stable coin’ guidelines. Further validating our aim to change the current monetary system.
“This is a great milestone for us. In our view, it is validating our ambition to be an alternative form of payment” said Mr. Arys Ruiz.
The distributed ledger technology is efficient in eliminating central points of failure. Banks and governments have exclusive control of the monetary mass and the creation of fiat. Governments have also the sole discretion over the use of its legal tender. Gold and silver are self-sovereign and not subject to a single jurisdiction.
Records in the blockchain are public and immutable. The cryptographic nature of distributed ledgers ensures an unchangeable audit trail of previous transactions by creating an incorruptible and transparent single source of data.
Smart contract technology are a series of predefined conditions in the form of electronic contracts written in code. This allows to eliminate human error when executing a contract. Participating parties agree on the code and the code will execute its function when the appropriate conditions are met.