Finest fGLD
This file replaced an earlier version on 2026-09-29. The file listed fGLD on Cardano without a reading of who controls the token there. This version adds that reading, so a client wallet holding it now matches this file. Earlier versions.
Subscribers see which of their clients hold this program and whether each household qualifies under these terms, and Ketju emails them when the file changes. $299 per firm per month, first 30 days free.
The verdict is on the memo: Finest fGLD Not approved
Eligibility
Each answer quotes the issuer’s own words from the document named under it. Ketju reads each document again and records whether the words are still there. Where the documents say nothing, the row states that.
- What the holder owns
A right to buy one gram of gold per token from the issuer. The holder does not own any bars.
“The finest GoldToken represents one right to purchase goods for 1g of gold per token”
FI finest Investments: Information and Terms for the finest GoldToken v1.02, English (2024-10-02) · Section A, Product, page 6 · words found 2026-09-23
- What the holder owns
Holding a token does not by itself entitle the holder to delivery.
“The possession of a token does not grant an automatic entitlement to the physical delivery of gold.”
FI finest Investments: Information and Terms for the finest GoldToken v1.02, English (2024-10-02) · Gold delivery claim, page 8 · words found 2026-09-23
- Who may hold it
Anyone 18 or over after KYC, except residents of 32 listed countries; the US is not on the list.
“Persons from the following countries are excluded from participation:”
FI finest Investments: Information and Terms for the finest GoldToken v1.02, English (2024-10-02) · Section A.2, Excluded countries, page 4 · words found 2026-09-23
- First purchase minimum
One token, which is one gram.
“b. Minimum purchase quantity: 1 token.”
FI finest Investments: Information and Terms for the finest GoldToken v1.02, English (2024-10-02) · Price list, 1b, page 9 · words found 2026-09-23
- Account types
Private and institutional holders.
“Our gold token is aimed at private and institutional holders who wish to digitally represent their ownership of physical gold”
FI finest Investments: Information and Terms for the finest GoldToken v1.02, English (2024-10-02) · Target group, page 7 · words found 2026-09-23
- Who it may be transferred to
Peer to peer on Cardano, but the terms allow it only without the intention of making a profit.
“The token can be transferred in peer-to-peer transactions between individuals, but only without the intention of making a profit.”
FI finest Investments: Information and Terms for the finest GoldToken v1.02, English (2024-10-02) · Tradability, page 9 · words found 2026-09-23
- How a holder redeems
Verified holders redeem from one token for physical gold, shipped in Germany and the EU or collected.
“Only verified users who have gone through the identification process are authorized to redeem GoldTokens. Redemption is made in physical gold.”
FI finest Investments: Information and Terms for the finest GoldToken v1.02, English (2024-10-02) · Gold delivery claim · words found 2026-09-23
- Who keeps the official record
The chain: the buyer owns the token once payment arrives; no other register is named.
“Once payment has been received, the buyer becomes the owner of the purchased GoldToken.”
FI finest Investments: Information and Terms for the finest GoldToken v1.02, English (2024-10-02) · Appendix 17, Section 4 · words found 2026-09-23
- What the issuer says it can freeze or take back
The issuer may block accounts and confiscate funds of users who break its rules, without notice; Cardano itself gives it no way to freeze a token.
“Finest GoldToken may, at its sole discretion, take action, including blocking accounts, confiscating funds or reporting to appropriate authorities, without prior notice to the user.”
FI finest Investments: Information and Terms for the finest GoldToken v1.02, English (2024-10-02) · Section A.2, Consequences of violations · words found 2026-09-23
| Fact | Answer |
|---|---|
| Who onboards the holder | issuer |
| Voting rights | None |
| Distributions | None |
| SIPC coverage of the wallet | No |
Who controls it
Ketju read these powers from the deployed contracts and their verified source code: the token and every contract it checks on a transfer. A power listed here is something the issuer can do; it does not mean the issuer has used it.
| Chain | Freeze a holder | Pause | Claw back | Gate holders | Change the code | Keys held by |
|---|---|---|---|---|---|---|
| Cardano | No | No | No | No | No | policy key e7592241a2a3d60c3d79353bd11ea61421676743f533d23a6ffdac88 |
Who holds the keys
Ketju read every current holder of each power from the chain on 2026-09-29. A single key is one private key, and whoever holds it acts alone. A multisig needs the stated number of signers. A timelock delays every action, so holders can see it before it takes effect.
| Chain | Key | What it can do | Held by | Address |
|---|---|---|---|---|
| Cardano | Minting policy | mint new tokens | a single key | e75922…ac88 |
Cardano: 3 contract reads, 0 functions in verified source, 2026-09-28
- policy=ee8e065fe8d4f77d1f454709a535f284e902365ac0a1ff08ad19f9e8
- script_type=timelock
- signers=e7592241a2a3d60c3d79353bd11ea61421676743f533d23a6ffdac88
Where it trades
| Venue | Kind |
|---|---|
| Finest app (app.finest.investments): purchase after KYC | issuer primary |
| NBX (fGLD) | exchange |
| Minswap on Cardano | dex |
Redemption
| Route | Settlement | Settles in |
|---|---|---|
| Redeem in kind | A verified holder emails a redemption request for at least one token and receives gold, shipped within Germany (€19 to €49) or the EU (€89), or collected at a pro aurum branch in Germany or Zurich. Redemption itself is free and takes several working days. The issuer does not ship to the US. After five years, if storage fees are unpaid, the issuer may sell the holder’s gold, and the tokens expire. | XAU (gold bars, shipped in Germany and the EU or collected) |
| Secondary market only; no issuer redemption | Holders may sell on NBX or in Cardano DEX pools; the terms allow peer-to-peer transfers only without a profit motive. | ADA, EUR |
- A token is minted by a policy other than ee8e065fe8d4f77d1f454709a535f284e902365ac0a1ff08ad19f9e8, or supply grows further without a new balance confirmation (1,542 fGLD on chain against 300 g last confirmed)
- FI finest Investments publishes a new custody confirmation, attestation, or audit
- FI finest Investments revises the GoldToken terms (v1.02 of 2024-10-02), above all the right-to-purchase clause, the excluded countries, or the storage-fee lien
- The issuer refuses a redemption, blocks an account, or sells gold for unpaid storage
Daily checks
Every day Ketju reads each control function in the table above and the contracts the token checks on a transfer. Ketju compares the token’s on-chain supply with yesterday’s, and its market quote with yesterday’s quote. Ketju also reads every document quoted above and reviews the file again if a quoted passage disappears from its document. Ketju counts a new, removed, or changed key as a change only when the chain’s own log shows the grant, revocation, or signer change since yesterday. If the log does not show it, Ketju updates the key list in this file and does nothing more. A change opens a review before any client action. Subscribers get an email that names each of their clients who hold the token, with the household result.
File history
Ketju has revised this file once since filing it. Ketju keeps each earlier version as published, with the reason for the change.
| Date | Change |
|---|---|
| 2026-09-23 | Filed. |
| 2026-09-29 | Revised. The file listed fGLD on Cardano without a reading of who controls the token there. This version adds that reading, so a client wallet holding it now matches this file. |
Sources
- FI finest Investments: Information and Terms for the finest GoldToken v1.02, English (2024-10-02) · primary · accessed 2026-09-23
Supports: one right to purchase goods per token, no automatic entitlement to physical delivery, not a security under MiCA or BaFin, excluded countries, private and institutional holders, minimum purchase one token, redemption from one token, verified users only, shipping only in Germany and the EU, peer-to-peer transfer only without profit motive, buyer owns the token on payment, blocking accounts and confiscating funds, sale of gold for unpaid storage - FI finest Investments: Informationen GoldToken v1.02, German original (2024-10-02) · primary · accessed 2026-09-23
Supports: Recht auf Warenbezug für 1g Gold - Finest app API: fGLD project record · primary · accessed 2026-09-23
Supports: Cardano policy and asset unit, custodian pro aurum, document list - pro aurum GmbH: balance confirmation for FI Investments GmbH (2024-10-02) · primary · accessed 2026-09-23
Supports: 3 × 100 g bars in depot 1011672600, depot in the issuer’s name - NBX: fGLD page · primary · accessed 2026-09-23
Supports: venue, EU shipping €89