Scottsdale Mint Enters Into Strategic Partnership With Singapore Precious Metals Exchange (SGPMX)

Scottsdale Mint Enters Into Strategic Partnership With Singapore Precious Metals Exchange (SGPMX)

The Partnership Will See Scottsdale Mint Serve as a Vehicle for North American Investors to Gain Exposure to the World's First Physically Backed Precious Metals Exchange

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 | Source: Scottsdale Mint, LLLP
 
 

SCOTTSDALE, Ariz., Dec. 9, 2013 (GLOBE NEWSWIRE) -- Scottsdale Mint, well-known U.S. based fabricator of precious metals, today announced a strategic partnership with Singapore Precious Metals Exchange (SGPMX). The Exchange has appointed Scottsdale Mint as the first and only Certified Broker to represent SGPMX in North America.

The partnership will allow for U.S. and Canadian based investors to participate in the world's first physical gold and silver exchange with peer-to-peer bullion trading capabilities via online services provided by Singapore Precious Metals Exchange. Investors will now have the ability to access state-of-the-art secure vaulting, 24-hour liquidity and self-directed auditing of their physical portfolios using the SGPMX platform.

"Our relationship with SGPMX presents a ground breaking opportunity for precious metals investors in North America. We are already seeing transfers out of derivative-laden Gold and Silver ETFs into this transparent, high-security physical exchange," said Josh Phair, president of Scottsdale Mint.

Singapore has transformed itself into one of the world's top financial hubs and is quickly attracting significant offshore wealth. With a stable government, transparent legal system, and history of investment management, Singapore is poised to eclipse Switzerland as the world's largest wealth center.

"We have been inundated with queries from clients who are keen to reap the benefits of asset and geographical diversification," said Victor Foo, CEO and founder of SGPMX. "Three of the world's largest banks began storing gold for wealth-management clients here in Singapore in the past year. We believe this trend will accelerate and carry over into the additional markets. This long-term partnership with Scottsdale Mint will play an integral role in providing access to the exchange as a viable investment supplement to investors in North America."

The Singapore Exchange also announced in late November the establishment of its advisory board, which includes renowned American metals trader Jim Sinclair and the former CEO of the Kuala Lumpur Stock Exchange, Dato' Yusli Yusoff.

About Singapore Precious Metals Exchange (SGPMX)

Established in August 2011, SGPMX is the world's first physical bullion exchange established for investors, traders and institutions to trade physical precious metals including 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, LLLP

Scottsdale Mint is an ISO 9001 certified fabricator and distributor of precious metals. The Mint is recognized in the silver and gold community for offering a wide range of specialized, high quality bullion designs, with production capacity to serve domestic and international markets. Headquarters and manufacturing facilities are located in Arizona, USA. For more information please visit www.ScottsdaleSilver.com

Davis Sullivan
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