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What are the benefits for a bank to join the PAGB?

Yes, there are several and some of the main benefits are listed as follows:

  • Significant Financial Support, in the form of a Gold Certificate of Gold Units (“GU“) which will ensure that the bank is always adequately capitalised and not subject to any restrictions under the reserve ratios;
  • Use of the GGMF BaaS (Banking as a Service) platform to process both FIAT Currencies and GU;
  • Use of a merchant card program that can process both FIAT currencies and GU;
  • Access to a Reseller Agreement with the Gold Depository Gold Bank (“GDTB“) for the marketing of the Gold-Backed Certificate of Deposits in terms of which the Bank can generate significant fee income.

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