Monetary Governance
GoldMoney recognises the importance of sound money. And our foremost objective is to offer a payment system unequalled in integrity and safety. We therefore represent to users that:

• The quantity of goldgrams is always equal to the quantity of grams of gold in the vaults. GoldMoney guarantees it.
• GoldGrams are added to a Holding only after grams of gold are entered into the vaults.
• Gold will only be delivered from the vaults to a user if the exact corresponding quantity of goldgrams is first removed from the user's Holding.
• GoldMoney will never extend credit nor engage in fractional reserve banking.
• The gold in the vaults always meets the Chain of Integrity standard established by GoldMoney.
• The above representations also apply to the silver ounces held for customers.

To ensure that the above representations are always met, prudent checks and balances have been built into GoldMoney. These were designed from inception into GoldMoney's operating system and software, which was originally built by Dimension Data, a world leader in IT system development and one of the independent third-parties with whom GoldMoney have worked closely. Others still include:

• VIA MAT International Ltd., which owns and operates the vaults in London and Zurich where all precious metals are stored and provides quarterly verification of the total amount of precious metals stored in its facility.
• Euro-Dutch Trust Company, a commercial trust firm that manages the quantity of precious metals in the GoldMoney database, and provides quarterly verification of the total quantity of precious metals held in customers' Holdings.

Digital Hallmark®
The use of hallmarks is a well-established practice for the precious metals industry, ensuring that items of gold and silver meet established standards of purity. GoldMoney carries this historical practice into online commerce. Your goldgrams receive our digital hallmark certifying that they are part of GoldMoney's Chain of Integrity, which has been established to mitigate the risk that a bar of gold in the Vault does not contain the weight of gold it is said to contain. This digital hallmark certifies that users own 100% pure gold.

Operating Procedures & Governance
Together GoldMoney works closely with its third-party service providers to complete all essential functions under carefully designed checks and balances that ensure customer protections and the safety of each customer's precious metals.

For example, additions and withdrawals of precious metals from the vaults require dual secure authorization from Euro-Dutch Trust and the GoldMoney system administrator. In addition, Euro-Dutch Trust makes all changes to the quantity of precious metals in GoldMoney's database, but only under the supervision of GoldMoney to ensure that each change is completed timely and accurately. Also, VIA MAT reports the weight of precious metals in the vaults for GoldMoney's customers, and Euro-Dutch Trust reports the quantity of precious metals in GoldMoney's database. Each quarter full reports by VIA MAT and Euro-Dutch Trust are presented here to show that the precious metals in GoldMoney's database are always equal to the quantity of precious metals in the vaults.

This system of checks and balances between GoldMoney and its various service providers - and the clear audit trail they establish - create a reliable and trustworthy arrangement with important customer safeguards. Your precious metals in GoldMoney are safe and secure.

System Governance
It is GoldMoney's objective to provide users with a precious metals transaction and payment system that works efficiently with minimal downtime and little customer inconvenience. To accomplish this objective, the operating system has 24/7 monitoring by Foreshore, which provides the hosting service for GoldMoney.

Periodic Review by an Independent Auditor
GoldMoney's auditor periodically examines the above governance procedures and GoldMoney's IT security. The auditor's SAS 70 Type II report is available upon request to all GoldMoney customers.