• ETH 3200.0
  • Goal : ETH 3200.0
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ICO Explanation


The amount of money in a person's wallet should not be a barrier to his ability to access financial products that the rich enjoy. HelloGold wants to remove affordability and accessibility from the equation through the democratisation and digitisation of gold-based savings and financing. The digital gold-backed token will enable us to take our offer to another level, allowing us to accelerate financial inclusion across the world.


About HelloGold Foundation


The HelloGold Foundation (HGF) is an organisation that has been set up by HelloGold with two primary objectives:


Accelerate the use of blockchain technology for use by the mass market


Expand the availability of products that help the underserved and unbanked in emerging markets to have better and more affordable access to simple financial products beyond cash; i.e. providing the ability to diversify savings and better preserve wealth

Why HelloGold

During the Asian Financial Crisis in the late 90s, Robin Lee (Founder and CEO of HelloGold) saw first-hand how “bad things can happen to good people” as domestic currencies were hit by extreme devaluation. People who had worked hard woke up to find the value of their savings slashed overnight, with a devastating impact on how they could provide for their families. The challenges of saving and protecting wealth today are no less daunting. Even in ‘normal’ times, cash savers have their wealth eroded via inflation.
Those saving in gold are protected from fiat currency devaluation; those who hold gold over longer periods can make large profits, especially in local currencies declining against USD (in which gold is denominated globally). But only the wealthier and more sophisticated savers can buy gold in an affordable way. The unfairness of the economics impacts those least able to fend for themselves.



HelloGold has developed and launched a product to enable low to medium income customers (mass market) to buy and sell gold, anytime, anywhere. The gold bought and sold are of investment grade (99.99% purity) and are securely vaulted with an independent, LBMA approved vaulting operator in Singapore. Other features include the ability to physically redeem the gold or gift the gold to other account holders. Additionally, customers can use their gold as collateral for loans provided by Aeon Credit Services, giving them access to personal finance when required at best-in-market rates. This product has been recognised as Shariah complaint by Amanie Advisors based on the AAOIFI Shariah Standard on Gold.



The System has customer mobile applications (native Android and iOS) communicating with a backend built with 2 parts, a core Central Web Service (Ruby) and Agent (Go). The current database uses Postgres technology. Relevant parts of the backend are being migrated to Ethereum smart contracts to improve transparency and security for the customer gold transactions, whilst providing the basis for gold backed crypto tokens. The smart contracts are being prototyped and the test infrastructure put in place. Next comes the integration with the current system which will be balanced between the immediate needs of the business and getting the blockchain to the market in a timely manner.



The team is made up of ex-regulators, business experts and technologists who have direct experience in general management, financial management, payments and settlement systems, business development, programming, blockchain technology, financial messaging standards, operations management, financial inclusion, micro-credit, compliance, risk and audit. Previous working experience of the team includes World Gold Council, Boston Consulting Group, Deloitte, KPMG, Bain & Company, Royal Bank of Scotland, Wolff Olins, Bangkok Bank, Malaysian Securities Commission, AEON Credit Services, and AirAsia. An overview of the team can be found here.

Token Sale


To support its objectives, HelloGold Foundation is looking to raise funds via a Token Sale (ICO). HGF will create HelloGold Tokens (HGT) which will be sold during the Token Sale. Subject to funds being raised via a successful Token Sale, it is envisaged that HGF will give HelloGold funds by way of grant(s) for HelloGold to direct towards the objectives of the Foundation.

In turn, HelloGold will endow 10% of its annual management fee revenue generated from gold AUM to HGF. HGF will then convert any gold endowment received into Gold Backed Tokens (GBT) in 1g increments. Each GBT will be backed by 1g of 99.99% investment grade gold, securely vaulted with HelloGold's nominated vaulting provider.

HGF will then decide on the distribution of GBT to HGT holders as a reward for supporting the Token Sale. Both HGT and GBT will be independently tradeable on public exchanges.

More detail on the offer is available in the Token Sale Information Sheet published below.

Sale process

HGF will create a fixed number of 1,000,000,000 (one billion) HGT, prior to the Token Sale. These will be released in 3 Rounds. Each Round is anticipated to be run at 12 month intervals.

All HGT will be minted (created) at the time of Round 1, after which no further HGT will be minted. The Token Sale has been broken up into Rounds to provide assurance to supporters that the funds are both required to meet the Foundations' objectives and being used for the intended purposes on a timely basis.

The Token Sale Rounds 2 and 3 timing and process will be confirmed prior to those rounds, currently scheduled for August 2018 and August 2019 respectively, but subject to meeting the objectives attached to Round 1 and the need for future funds.


Why Register

HGF are asking supporters to complete registration through a Know-Your-Customer (Anti-Money Laundering) process prior to providing funds to HGF for 3 reasons:

  • 1. In line with financial services best practices, HGF are looking to verify supporters' identity to prevent financial fraud, money laundering and terrorist financing
  • 2. US & Singapore citizens, green card holders, permanent residents, and tax residents are excluded from the Token Sale due to securities regulation
  • 3. As gold backed tokens (GBT) will be convertible to gold within a HelloGold account (from which fiat and physical gold will be accessible), HGF are putting processes in place to ease the transition from crypto to physical or fiat

HGF recognise that due to the use of crypto wallets the KYC process is not as foolproof an identification system as it is when setting up a HelloGold account. However, HGF are putting in place best efforts to verify supporters' identity.

Overview of process

HelloGold have experience running best practice KYC processes. The HGF KYC process will be based on the one used by HelloGold, although web, rather than application, based.

HGF will ask supporters to provide the following information to complete KYC prior to sending funds to the Token Sale smart contract:

  • 1. Set up an account, including verification of email address
  • 2. Agree to T&C including self certification
  • 3. Provide the following information:
    • a. Name
    • b. DOB
    • c. Copy of passport biodata page
    • d. Selfie holding passport, showing biodata page
    • e. Document showing residential address
    • f. Ethereum wallet address controlled by the person completing registration

Further Information

Further detail on the HelloGold Business Plan, Technical Whitepaper and Token Sale can be found in the PDFs below:


What is HelloGold?

HelloGold is a start-up that creates simple and accessible gold products for everyone, providing access to gold as a form of savings, loan collateral and remittance (value transfer). Founded in 2015 and headquartered in Kuala Lumpur, Malaysia, HelloGold built the world’s first Shariah compliant gold digital application that changes the way you buy and sell gold.

Who is HelloGold Foundation?

The HelloGold Foundation (HGF) is an organisation that has been set up by HelloGold with two primary objectives:

1. accelerate the use of blockchain technology for use by the mass market
2. expand the availability of products that help the underserved and unbanked in emerging markets to have better and more affordable access to simple financial products beyond cash; i.e. providing the ability to diversify savings and better preserve wealth.

What is the Token Sale?

The Token Sale is a sale of HelloGold Tokens (HGT) by the HelloGold Foundation that provides its holder with a potential stream of Gold Backed Tokens (GBT). The amount of GBT issued will be based on an endowment from HelloGold. The endowment is 10% of HelloGold's management fee revenue. GBT issued to HGT are capped at a maximum total issuance of 3.8 tonnes of gold (3,800,000 grams).

Each GBT is backed by 99.99% investment-grade gold and may be redeemed as physical gold in 1g increments if a user registers as a HelloGold user.

Why is the Token Sale being run?

A Token Sale is a fundraising exercise which allows HelloGold Foundation to provide support to entities which align with the objectives of expanding both the use of blockchain technology and access to financial products for the mass market. The first Token Sale run will be used to provide a grant to HelloGold.

What is the difference between HGT and GBT?

HGT is a token for supporting the objectives of the HelloGold Foundation. Supporters may be rewarded with any GBT distributed to HGT holders. It has no intrinsic value and is not backed by any real-world asset. A total of 1,000,000,000 (one billion) HGT will be minted.

GBT is a token that is fully backed by 99.99% investment grade gold. 1 GBT is always tied to 1g of gold, which is allocated and securely vaulted in Singapore. There will be 3 ways of receiving GBT in future:

1. Provided as a reward for HGT holders by the HelloGold Foundation.
2. Converting gold held as a customer of HelloGold into GBT. This allows for exchange outside the HelloGold platform.
3. Direct purchase of GBT to access the benefits of a stablecoin.

How is GBT different to other crypto gold tokens?

GBT is a token that is fully backed by 99.99% investment grade gold. It is redeemable as physical gold in 1g increments if the token holder registers as a HelloGold user. The design of the token is based on HelloGold’s existing gold product, which has been released in the market and proven to be sustainable.
For more information on the product, go to: https://www.hellogold.com/how-it-works/

When is the process being run?

The Token Sale and its details have been publicly published for feedback from interested parties. The process will be run in 3 Rounds, each anticipated to be 12 months apart.

Should there be sufficient interest in the Token Sale and no major changes to its structure, Round 1 is estimated to be launched on 28 August 2017.

How much will HGT cost?

HGT will be priced in ETH to align with the target fund raise of US$9.6 million for Round 1, bearing in mind the 5-tranche Token Sale structure (with varying bonus token allocations per tranche) and total tokens in the Round 1 sale of 180,000,000 (one hundred and eighty million) plus any remaining tokens not allocated during the pre sale. As an indicator, with an ETH value of US$260/ETH the base price of HGT will be 8,900 HGT/ETH.

What is the return on HGT?

There is no guaranteed return on HGT. The disbursement of reward GBT to HGT holders is discretionary by HGF. However, as the lifetime total allocation of GBT is capped at 3,800,000 GBT (i.e. 3.8 metric tonnes of gold) to the 1,000,000,000 HGT created, each HGT will receive a maximum of 0.0038 GBT (i.e. 0.0038 g of gold).

The return on HGT will then depend on:
•  the price of gold, and
•  the speed at which HelloGold's gold Assets Under Management grow before the maximum amount of GBT is issued

What rights does HGT ownership provide?

HGT holders have a right to a proportional share of any reward GBT disbursed by HGF.


Committee members

As HelloGold has initially set up the Foundation, the founding members overlap with HelloGold. Overtime, HGF would like more members to be independent from HelloGold, with experience in blockchain/fintech and supportive of the objectives of the Foundation.

Robin Lee


Robin is the former CFO of the World Gold Council and brings a wealth of knowledge and contacts about the gold market. He was the principal accounting officer for SPDR Gold Trust (‘GLD’), the world’s largest gold fund, which held over US$30 billion in assets under management. His WGC experience includes supporting the launch of the world’s first exchange traded, wholesale kilo gold contract and introducing a gold savings program with ICBC which generated annual sales of $6.5 billion.

Harith Kamarul


Harith was previously working in field force project management at Great Eastern Life, Malaysia’s largest life insurance provider. His role covered various tasks ranging from data handling and strategy work to training and event management. Harith has experience as a researcher and producer for BFM 89.9, a Malaysian business radio station, and graduated magna cum laude with a BSc in Actuarial Science from the University of Wisconsin-Eau Claire.

Roger Ward


Roger is a strategy consultant, having worked at Bain and Deloitte. He also has experience working in the gold industry, having worked at the World Gold Council developing strategy and managing complex projects in London, Singapore and New York. This included supporting the launch of the world’s first exchange traded, wholesale kilo gold contract as well as providing support to the world’s largest gold fund, SPDR GLD. Roger has a First Class MA Hons in History from the University of Edinburgh.

Wykeen Seet


Wykeen was previously VP at Bangkok Bank in Thailand where he led multiple projects including Mobile Banking, B2B Gateway, International Remittance, and Credit Related Systems over a period of 8 years. Prior to Bangkok Bank, he was a software engineer at Digital Applications International Limited. He has a PhD in Computer Science from the University of Manchester where he completed his Master of Philosophy (MPhil) in Computer Science and received a 1st class in Bachelors of Science.

Dave Appleton


Dave is an expert in blockchain technology and has worked on a number of state of the art blockchain codebases, specialising in Ethereum smart contracts. He has used multiple languages professionally, including C, C++, C#, Pascal, Modula-2, PHP, Go, Java, SQL, Basic, Assembly Language (Various), Microcode and PowerBuilder. Dave has BSc in Engineering (Electronics) from University of London and MSc in Management of Technology from National University of Singapore.



TC was previously Technical Lead for VLT Labs, a software house, and CTO of Recomn.com, a service professional marketplace. Prior to joining the startup ecosystem, he was a supply chain planning consultant for Quintiq. He has a Bachelor of Engineering in Electrical and Computer Systems engineering from Monash University. TC is experienced in multiple modern programming languages including Ruby, Python, Java, Javascript, Swift, C# and R.

Manuel Ho


Manuel was previously Head of Customer Marketing at the Royal Bank Scotland Group and Strategy Director at Wolff Olins PLC. His experiences include leading an award winning Vivo Brazil new-brand project and creating a $300m customer strategy that led to a brand reposition of NatWest. He has led various Fintech initiatives in London and Singapore and advised A*Star, the S$7 billion R&D arm of the Singaporean Government. He holds a MBA from the Kellogg Graduate School of Management.

Ridwan Abdullah


Ridwan spent 7 years in AEON Group Malaysia in the retail and financial services industry. He is the former Head of Special Projects at AEON Credit Service (Malaysia) Bhd. Prior to AEON Credit, Ridwan was in the retail sector for AEON Co. (M) Bhd., where he worked in supply chain management and set up the project team for AEON's first retail store expansion into Indonesia. Ridwan is currently completing an Executive-MBA at Columbia Business School & London Business School.

Joshua Ambrose


Joshua has 20 years of operational experience. He was one of the pioneers that started up AirAsia BIG’s loyalty programme and prepaid cards, and was part of the team that setup the operations for AirAsia BIG in Malaysia and later expanded the business to Indonesia and Thailand. He was also Head of Operations at Rocket Internet, where he revamped operations for Zalora and Food Panda Malaysia, increasing productivity while implementing cost saving measures.

Ita Jalaluddin


Ita specialises in delivering effective communication strategies across all consumer touch points, creating consistent product and brand experiences. As Digital Director at TBWA and Head of Communications at GDP Architects her work spanned across a wide range of retail, consumer and tech industries. Ita has a BA in International Relations from Boston University and holds and MA in Design History from the Royal College of Art.

Isabel Taye


Isabel specialises in content creation and media production. Her work spans across radio, events, online and tv commercials with clients such as Procter & Gamble, Ikea, Bursa Malaysia and Sime Darby. She was Producer and Host of the breakfast show at Capital FM, a radio station in Malaysia, where her work doubled the show's listenership. Isabel also has experience with consumer and market insight as a media researcher at Digital Cinema Media London.

Asha Jacob


Asha has been growth hacking for 3 years, working with and learning from her partner Eddy Azar on blockchain projects like TenX, Golem, and Bancor. She has also worked on crowdfunding projects like Crik Nutrition and Lifespan.io, and is now working on HelloGold as lead growth hacker.

Zulhilmi Zainudin


Zulh was previously a Full-Stack Web Developer for BBD Labs in Kuala Lumpur. He was involved in fast development sprint cycles, managing development across a wide range of industries for international customers. Before that, he was a freelance designer and front-end developer designing web application interfaces for businesses. He is also a mentor and organiser for RailsGirls KL and TechLadies KL teams; building and empowering woman software engineers.

Daniel Boey


Dan completed a BSc in Sound Engineering with 1st Class Honours from London Metropolitan University and a MSc in Computing Science at Imperial College London. He has since worked as a Technical Consultant for Lombard Risk in London, helping in the design and installation of regulatory reporting software for banks. He was also lead engineer on a number of projects for BBD Labs in Kuala Lumpur. He has experience with Python, C++, Java, Go, and Ruby-on-Rails.

Zaim Ramlan


Zaim was previously a freelance Full-Stack Web and Mobile App Developer, developing full-fledged, user-centric web and mobile applications for clients while completing his BSc in Computer Science at IIUM. He was the overall Gold Winner for IIUM's 2016 Computer Science Final Year Project. He enjoys working on UI/UX, performance optimisation, scaling application infrastructure & Internet of Things, and is also a mentor and trainer for RailsGirls KL.

Kai Lin


Kai Lin was previously a process specialist at ExxonMobil, specializing in corporate stewardship and supply chain strategies for operations in Singapore and Indonesia. She worked on multiple projects driving process improvement and cost reduction. She also has experience in business analytics and modelling with Linde AG in Germany. Kai Lin received a double degree with First Class Honours in Chemical Engineering and Economics from Nanyang Technological University.

Sooria Kumar


Sooria understands Customer Service and Operations across the Business Process Outsourcing, Logistics, and Tech industries in Malaysia. His previous experience includes serving as a Quality Assurance Specialist for VADS Berhad, one of Malaysia's leading IT management service providers, and as a Service Center Manager for ABNXcess, a local cable TV and ISP company.


Andras Kristof


Andras is an entrepreneur and digital currency technology expert. He has 20+ years of IT experience building robust, scalable systems. He started working with blockchains in 2013, including Bitcoin, Ripple, and Ethereum. After a successful exit from viki.com, he founded Tembusu Systems in late 2013. Andras is currently CTO of Yojee in Singapore, a distributed logistics platform making logistics more effective. Andras is co-author of the 'Handbook of Digital Currency'.

Bo Shen


Bo Shen is the founding partner of Fenbushi Capital and Blockasset. He is also a veteran of the traditional financial industry, accumulating 12 years of senior management in brokerages, hedge funds and investment banks.

David Lee


David was founder of multiple companies including Left Coast, LiBai and Ferrell Group, and a founding investor in ZCash, Qtum, TenX, and various other blockchain companies and cryptocurrencies. He is also a Professor at the Singapore University of Social Sciences.

Herbert Chain


Herb served as audit partner for 27 years with Deloitte prior to his mandatory retirement in May 2015, including as audit partner on SPDR Gold Trust (GLD), which at the time was the largest ETF in the world. He has in depth experience in areas including auditing, management consulting, due diligence, SEC filings, and IPO listing. Herb received his MBA from the Wharton School, University of Pennsylvania and currently serves as Professor at St. John's University (NY).

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