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February 8, 2017
CodeTract partners with BullionStar for their Gold Smart Contract
SINGAPORE: CodeTract (https://codetract.io), a startup that develops smart contracts on Ethereum has partnered with BullionStar, Singapore’s premier bullion dealer to issue gold tokens on Ethereum that are fully backed by gold stored in BullionStar’s vault.
The gold tokens will adhere to token standards and introduce an asset - Gold - that is stable in value for Ethereum, the smart contract blockchain. This serves as a safe-haven amidst other more volatile crypto assets. The operation of the gold token will be governed by a smart contract, which are contracts written in code instead of English, and the Ethereum virtual machine will enforce the smart contract’s code. This ensures that all transfers are authenticated by the owners, all received tokens are valid and all tokens are issued with gold backing. Gold tokens will be initially issued to represent 1 gram of physical gold each, fully backed by BullionStar’s Bullion Savings Program, in BullionStar's vault.
BullionStar's vaulting solution offers both security and transparency. Gold stored in BullionStar's vault is protected by seven different types of surveillance and is completely insured by XL Insurance Group, the world's largest specie underwriter. For transparency, BullionStar employs 5 different audit schemes, including an bi-annual audit by an independent third party LBMA-approved auditor, to verify the existence, accountability and accuracy of gold stored. Clients are easily able to view these audit reports online.
To enable users to obtain the tokens easily and at a fair price, CodeTract will set up a daily settled auction smart contract. These stable value tokens can in turn be used to transact and interact with other upcoming apps in Ethereum. Fees will be kept to a minimum to encourage permissionless innovation on this fast growing platform with the hope that more mainstream and killer apps can emerge.
On the partnership, CodeTract's cofounder, Mr. Lee Qing Xian, highlighted, "BullionStar’s vault storage solution is exemplary. They have an impeccable focus on transparency with their live audit report, third party audit report, daily physical stock report all easily available online on top of other checks in place. This makes us natural partners as one major foundation of smart contracts and blockchains is transparency. Through that, we can be sure our ownership of things is secured."
"Partnering with CodeTract was a logical step for BullionStar as the leading bullion dealer in Southeast Asia," said Mr. Torgny Persson, CEO of BullionStar. "In recent years, Singapore has been transitioning into a global hub both for the storage and trading of precious metals as well as into a thriving hub for Fintech companies. The partnership fits well into BullionStar's strategy of introducing modern technology into the age-old precious metals industry."
The beta release of the gold tokens and auction will be in Feb 2017 and Ethereum users will be able to participate.
September 14, 2016
Additional Gold & Silver & Platinum Coins exempted from GST in Singapore
Starting 1 September 2016, the exemption of gold, silver and platinum coins from Goods and Services Tax (GST) in Singapore has been extended. Click on this link for a list of additional coins now available for purchase at BullionStar.com without GST.
June 14, 2016
BullionStar interviewed on Channel 8 News about Gold Demand for First Half of 2016Channel 8 News - a Chinese News Station in Singapore - interviews BullionStar's COO, Mr. Luke Chua, on the physical gold demand for the first half of 2016 and the reasons behind the rise in gold prices.
January 23, 2016
BullionStar featured and interviewed on Channel News Asia about gold trendsChannel News Asia interview with BullionStar's COO, Mr. Luke Chua, as well as customers from BullionStar about their views of the gold market generally and price development specifically.
December 7, 2015
BullionStar's COO, Mr. Luke Chua, quoted on seasonal gold demand in Straits TimesMr. Chua commented on the seasonal demand for gold and the shortage of 100g Gold Bars from popular refineries in light of the gold price falling to six year lows.
August 5, 2015
BullionStar Sales Manager, Mr. Luke Chua, quoted on high physical gold demand in Straits TimesMr. Chua commented on the high physical demand for gold in light of the gold price falling to a five year lows.
July 21, 2015
BullionStar Sales Manager, Mr. Luke Chua, quoted on the price development of gold in Voice of AmericaMr. Chua commented on the development of the gold price falling to a five year low pointing out how disconnected the paper gold market is from the physical gold market.
May 20, 2015
BullionStar CEO, Mr. Torgny Persson, quoted in Strait TimesAlthough we certainly don't agree with the Strait Times headline that Gold is losing lustre, it's correct, as referenced in the article, that the demand for gold is usually higher than there's a lot of volatility in the gold price.
April 20, 2015
Mr. Torgny Persson, CEO of BullionStar, interviewed by SG Wealth BuilderMr. Persson was interviewed by the Singaporean blog SG Wealth Builder on his predictions for the gold price, competitiveness of Singapore for bullion and development of BullionStar.
March 14, 2015
BullionStar Financials 2014In a step to further increase customer transparency, BullionStar will publish financial information such as sales revenue, number of orders, average order, medium order, website visits and more bi-annually in infographic style. The sales revenue for 2014 was SGD 53 M with the average order being SGD 6,475. Go to BullionStar Financials 2014 - Year in Review for more data and information.
February 3, 2015
Gold Bars Without Spread - A world's first!BullionStar has released a 100 gram gold bar which at any given time can be bought for the same price it can be sold. The gold bar has an inscription stating "Money since 4000 B.C." on the reverse matching BullionStar's ideological belief that gold is money.
January 19, 2015
Koos Jansen explains why he is bullish on the long term price of goldSputnik News - GoldCore Broker Says Owning Gold Best Way to Grow Wealth in 2015
November 25, 2014
Koos Jansen weighs in on the Swiss ReferendumThe Guardian - Fears that ‘dangerous’ Switzerland referendum could spark gold rush
October 17, 2014
BullionStar - First company in Singapore to pay employees in Gold and Silver!
BullionStar is the first employer in Singapore to pay employees in Gold and Silver! View Channel News Asia's coverage here featuring BullionStar's CEO, Mr. Torgny Persson and Sales Manager Mr. Vincent Tie. The press release can be read here.
August 29, 2014
Mr Torgny Persson, CEO of Bullionstar Pte Ltd interviewed by Channel NewsAsia on 28 August 2014!
Mr Torgny Persson, CEO of BullionStar Pte Ltd gave his views on Channel News Asia 28 August on the reason why gold and silver is valuable and why it is better to own gold than diamonds as the pricing of gold and silver is more transparent.
August 13, 2014
Buying gold using Bitcoin at BullionStar!
July 30, 2014
Interview with BullionStar's CEO on the development of the Asian gold market
July 16, 2014
Is BullionStar's Bitcoin idea as good as gold?
July 2, 2014
Enlightening presentation by CEO Torgny Persson at Passport to Freedom conference in Las Vegas 2014!
"Passport to Freedom" Conference 2014 concluded with a blast in Las Vegas on the 25th Jan 2014!
The much sought-after three days' conference from the 23rd to 25th January 2014 was well-attended by participants from all over the world!
Invited as a speaker, CEO Torgny Persson delivered an awesome, informative session on : "How to store Gold offshore in Singapore?"
June 17, 2014
A high score of 8/10 at Bullion Reviews Singapore!A big thanks to our customers on their great reviews of BullionStar on Bullion Reviews Singapore! Find out how we managed to score a high score of 8 upon 10.
June 10, 2014
Bullionstar featured on Channel News Asia on the 9th June 2014!
BullionStar was featured on Channel News Asia on the demand of precious metals - Silver and Gold!
June 6, 2014
Bitcoin Bullion Dealers Seek Asian Market Entrance in Singapore
BullionStar's CEO was intereviewed by leading alternative currency news portal, Coindesk, for being the first bullion dealer in Asia to offer Bitcoin payment for purchasing physical precious metals.
May 25, 2014
The Straits Times 25th May 2014 - Taking a shine to gold and silverBullionStar CEO Mr Torgny Persson is interviewed by Singapore's leading newspaper, The Straits Times, on his entrepreneur journey and his investment outlook.
November 16, 2013
BullionStar is interviewed by the Wall Street JournalWe are interviewed by the Wall Street Journal on the demand for silver coins demand in Asia.
May 29, 2013
BullionStar is interviewed by Reuters
With the recent dip in precious metals spot prices since April, we were asked by Reuters on our outlook in the bullion market.
May 10, 2013
Buy the Golden Ticket to Stand Chances of Winning Gold Bars from BullionStar!
To support Singapore Press Holding's campaign to boost its readership and reward their readers, BullionStar is proud to be participating in the campaign by sponsoring Gold Bars and Silver Coins as part of the prizes! Get your Golden Ticket now and stand a chance to win over SGD$60,000 worth of gold from BullionStar!
Get yours by Monday to redeem 7 issues of The New Paper and an instant scratch-and-win treat by Swensen's! You also get three chances to play the Lucky Boxy game here: http://tnp.goldenticket.sg/.
If you haven’t, head down to any 7-Eleven store island wide or get it online here: http://buyonline.goldenticket.sg/.
February 4, 2013
Business Times Interview with BullionStar on Silver
BullionStar was approached by journalists from the Business Times to give our thoughts on the silver market and the article was published on the front page of the newspaper.
We intend to work closely with reporters and journalists who are interested in the precious metals industry and will be updating the articles and publications that BullionStar is featured in from time to time.
January 16, 2013
BullionStar Goes Live!After months of hardwork and dedication, the BullionStar team is proud to announce the launch of its online trading platform. Customer can now buy physical precious metals from renowned refineries around the world with a click of the mouse. BullionStar aims to build on the launch of the website and become the premier bullion dealer in Singapore.
December 3, 2012
Launch date for www.bullionstar.com online trading to be set shortly
BullionStar's website www.bullionstar.com is accessible for users to view information, read articles and browse around. The website is however not fully functional and is only in its testing phase. BullionStar is therefore currently not taking any orders but will commence trading shortly. A new announcement will be made at this page when a launch date is set and when the site is operational.
October 10, 2012
Overview GST-exemption for Investment Precious Metals (IPM) in Singapore
Since 1 October 2012, Investment Precious Metals (IPM) are exempted from GST in Singapore. Since there's no capital gains tax in Singapore, this step means that Investment Precious Metals in Singapore are now completely tax-free. The Singaporean government is keen on creating a precious metals hub in Singapore with the aim of increasing Singapore's share of worldwide trade in gold from the current 2% to 10% within 5-10 years. With the objective of creating an Asia-Pacific industry hub for precious metals, the following items will be exempted from GST (Revised 1 September 2016) :
Bullion bars, ingots and wafers must meet the following criteria to be exempted:
a) Minimum purity of 99.5% for gold, 99.9% for silver, 99% for platinum
b) Capable of being traded on the international bullion market meaning that the refiner/manufacturer must be or have been listed on the London Bullion Market Association (LBMA) 'Good Delivery' list of
c) Have a mark or characteristic that is internationally accepted as guaranteeing its quality
d) It is not a decorative bar, ingot or wafer or a collector's bar, ingot or wafer.
In addition the following bullion coins are exempted:
(a) List of Qualifying Gold Coins
(i) America Buffalo
(ii) Australia Kangaroo Nugget
(iii) Australia Lunar
(iv) Austria Philharmonic
(v) Canada Maple Leaf
(vi) China Panda
(vii) Malaysia Kijang Emas
(viii) Mexico Libertad
(ix) Singapore Lion
(x) United Kingdom Britannia
(xi) Canada Call of the Wild 3-coin series
(xii) United Kingdom Lunar
(xiii) United Kingdom The Queen's Beasts 10-coin series
(b) List of Qualifying Silver Coins
(i) America Eagle
(ii) Australia Kookaburra
(iii) Australia Koala
(iv) Australia Lunar
(v) Austria Philharmonic
(vi) Canada Maple Leaf
(vii) China Panda
(viii) Mexico Libertad
(ix) United Kingdom Britannia
(x) Australia Saltwater Crocodile
(xi) Canada Wildlife 6-coin series
(xii) Canada Birds of Prey 4-coin series
(xiv) Armenia Noah's Ark
(xv) Australia Kangaroo
(xvi) United Kingdom The Queen's Beasts 10-coin series
(c) List of Qualifying Platinum Coins
(i) America Eagle
(ii) Australia Koala
(iii) Australia Platypus
(iv) Canada Maple Leaf
(v) Austria Philharmonic
Coins that are not on the prescribed list cannot qualify as IPM and will continue to be taxable.
October 4, 2012
BullionStar to launch charity program
BullionStar is launching its BullionStar charity program to assist people in fulfilling their dreams and to give back to the community. Read more about BullionStar's charity work here.
July 10, 2012
BullionStar agrees to MoU for obtaining direct deliveries of newly minted Heraeus Gold and Silver bars
A new memorandum of understanding gives BullionStar Pte Ltd the opportunity of sourcing gold and silver bars from the renowned German mint Heraeus at a very advantageous rate. Some logistical challenges remain to be solved but we are convinced that we will be able to offer our customers a full range of Heraeus products.
June 21, 2012
BullionStar to release new website
With the news that Investment Precious Metals will be exempted from GST starting October 1, BullionStar is launching a full service webpage where orders can be placed in real time 24/7. This is only the first release out of many to ensure that BullionStar will take a leading position as the premier bullion dealer in Singapore.
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