Exclusive agreement between World Platinum Investment Council and Rand Merchant Bank will extend the global reach of platinum bullion coin custodial certificates
By World Platinum Investment Council …..
On December 10, the World Platinum Investment Council (WPIC) and Rand Merchant Bank (RMB) entered into an exclusive agreement to increase the global availability of listed platinum Bullion Coin Custodial Certificates to retail and institutional investors. The custodial certificates will provide a new safe, secure and cost-effective method of purchasing and owning platinum.
The move follows RMB’s successful listing on South Africa’s JSE of the world’s first dedicated gold coin custodial certificates in November 2014, the Krugerrand Custodial Certificates (KCC). RMB has granted the WPIC sole rights to identify and appoint partner licensees outside of South Africa capable of providing listed Bullion Coin Custodial Certificates to investors.
Platinum-backed certificates will increase the platinum investment choices for retail and institutional investors to include legal tender bullion coins without necessarily taking delivery.
Marcus Grubb, Director of Market Development at WPIC said, “We are delighted to be entering this exclusive partnership with Rand Merchant Bank and we look forward to working with partners around the world to provide access to this innovative concept. This is the first in a series of new initiatives that will be announced by the WPIC, all with the intention of stimulating investor demand for physical platinum and increasing the number and type of platinum investment opportunities open to investors.”
Ebrahim Patel, Commodities Specialist at RMB added, “RMB has pioneered a number of ground-breaking precious metal investment products, and the agreement with the WPIC will ensure that the next generation of bullion investment products reaches a global audience.”
The gold KCCs have already achieved notable success with over 97,000 KCCs issued since their launch. The WPIC hopes to bring significant investment demand to the global platinum market with this new product.
About World Platinum Investment Council
The World Platinum Investment Council Ltd. (WPIC) is a global market authority on physical platinum investment, formed to meet the growing investor demand for objective and reliable platinum market intelligence. WPIC’s mission is to stimulate global investor demand for physical platinum through both actionable insights and targeted product development.
WPIC was created in 2014 by the six leading platinum producers in South Africa: Anglo American Platinum Ltd, Aquarius Platinum Ltd, Impala Platinum Ltd, Lonmin plc, Northam Platinum Ltd and Royal Bafokeng Platinum Ltd. WPIC’s offices are located at 64 St James’s Street, London, SW1A 1NF. For further information, please visit www.platinuminvestment.com.
About Rand Merchant Bank
RMB, a division of FirstRand Bank Limited, is a leading African corporate and investment bank and part of one of the largest financial services groups in Africa. RMB offers innovative, value-added advisory, funding, trading, corporate banking and principal investing solutions. For further information please visit www.rmb.co.za.
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