Regulations and Compliance

The Singapore PSPM ACT

CACHE has been granted Certificate of Registration No. PS20190001508 under the Precious Stones and Precious Metals Dealers (Prevention of Money Laundering and Terrorism Financing) Act (PSPM Act) passed by Singapore Parliament on February 11th 2019 in line with Financial Action Task Force (FATF) recommendations.

The PSPM Act is enforced by the Ministry of Law, which ensures that Singapore's legal infrastructure is clear, efficacious and transparent. The Ministry of Law is also the agency behind the Singapore Convention on Mediation which was recently adopted by the United Nations as a means to settle international trade disputes.

The PSPM Act encompasses physical bullion tokenization and ensures consistent AML/CFT standards are applied when physical gold is bought, sold, tokenized or redeemed by CACHE.

CACHE Operational Scope

CACHE, although permitted to do so by the PSPM act, has elected not to sell tokens directly to or buy tokens directly from the general public and instead only acts as a tokenization and redemption gateway. This policy allows for better scalability, more efficient compliance and helps to overcome some of the key logistical challenges inherent in gold backed tokens.

CACHE therefore does not accept fiat currency or cryptocurrencies from the general public. The only services CACHE offers to the general public are:

By concentrating on its core competencies and partnering with reputable bullion dealers to allow their customers to deposit gold for tokenization, CACHE will harness existing industry processes and compliance controls to provide far better scalability than could be accomplished by recreating all of these functions in-house.

CACHE works closely with its approved liquidity and storage providers to optimize tokenization turnaround times and to maximize CACHE Gold liquidity at or near the spot gold price.

CACHE AML/CFT Policy

A verified CACHE Gold account is required to deposit gold or redeem CACHE Gold tokens. Account verification occurs according to the CACHE Compliance Manual which adheres to PSPM requirements as well as international best practices for AML/CFT.

CACHE screens for high risk factors such as politically exposed persons and jurisdictional risk. CACHE conducts a risk assessment and classification on every account holder. CACHE participating vaults must have their own AML/CFT compliance framework. Finally, CACHE has conducted an independent legal assessment by a law firm in Singapore which has ascertained that CACHE Gold tokens are not securities.

For bullion provenance assurance, CACHE leverages both vault and liquidity provider gold provenance controls, ensuring industry best practices are adhered to. Furthermore, through GramChain, CACHE implements additional packaging, transparency and tracking standards as well as tighter sourcing controls which can be publicly verified on the GramChain® explorer.



NOTICE OF COMPULSORY CGT TOKEN REDEMPTION

Date of Publication: 20 June 2025

Compulsory Redemption Date: 30 September 2025, 23:59:59 (Singapore Time)

CACHE is winding down its operations and will implement a compulsory redemption process in relation to all outstanding CACHE Gold Tokens (CGT). Please see the CACHE Terms of Service (the “TOS”) for more information on this compulsory redemption process, which may be found at https://cache.gold/terms-of-service. Capitalised terms in this notice shall have the meanings ascribed to them in the TOS. This notice should therefore be read in conjunction with the TOS.

The Compulsory Redemption Date is set for 30 September 2025 (Singapore Time). On that date:

  1. CGT tokens will cease to be backed by gold and will no longer be recognized, honored, or redeemable by CACHE. While CGT tokens may technically remains on the Ethereum blockchain, they will have no further utility, value, or backing.
  2. Subject to eligibility (please refer to the TOS for more information thereon), Pax Gold (PAXG) tokens will be distributed via an airdrop (a blockchain-based transfer that requires no action from you) in exchange for your CGT held in an Ethereum Wallet as at the Snapshot Time (not after). Each PAXG token represents 1 troy ounce of fine gold stored in LBMA-accredited vaults in London and issued by Paxos Trust Company.

The airdrop of PAXG tokens will be based on CGT balances recorded in the last Ethereum block mined prior to 30 September 2025, 23:59:59 Singapore Time (the “Snapshot Block”) (and the time at which the last Snapshot Block was mined being the “Snapshot Time”).

Each eligible Ethereum Wallet will receive:

Number of CGT tokens held in such Ethereum Wallet ÷ 31.1034768 (rounded down to the nearest 0.00000001 PAXG or 8 decimal places)

This conversion reflects that each CGT represents 1 gram of fine gold, and each PAXG represents 1 troy ounce (31.1034768 grams). No fiat or market price valuation will apply.

If you prefer to redeem your CGT manually (e.g., for physical gold or fiat), you may do so through the CACHE website no later than 26 September 2025, 23:59:59 Singapore Time.

By continuing to hold CGT, you are deemed to have (A) accepted the terms of the compulsory redemption process as set out in Clause 5A of our TOS, (B) accepted that all your rights in connection with the CGT held by you shall be extinguished upon the Compulsory Redemption Date, (C) agreed that, where eligible, the Compulsory Redemption Tokens airdropped into your Ethereum Wallet shall be in full and final settlement of your CGT tokens compulsorily redeemed, and (D) waived any right to further redemption, refund, or legal claim against CACHE following the Compulsory Redemption Date.


For assistance, please contact [email protected].


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