Key Data

• Trading Name: VeraOne
• Legal Entity: LinGOLD Ltd
• Activities: Stablecoin Issuer
• Location: UK
• Regulations: not given
• Key People: Jean-François Faure
• Latest news: VeraOne
• Latest update: October , 2024

VeraOne and its sister company, VeraCash, both subsidiaries of the precious metals industry giant AuCoffre Group, offer a unique gold-backed ERC-20 token on the Ethereum blockchain. Each VRO token is 100% backed by physical gold stored in secure Swiss vaults.VeraOne’s offering is integrated with VeraCash’s online accounts and debit card services, allowing seamless transfers between digital gold tokens and physical assets. This connection provides users with a streamlined way to manage and trade gold and other precious metals.

VeraOne’s primary aim is to offer a new way to access precious metals. It goal is to provide is a solid and reliable alternative to existing options for stabilizing portfolios that rely heavily on traditional currencies (such as the dollar) or tangible assets.

Offering

VeraOne offers a gold-backed stablecoin called VRO that operates on the Ethereum blockchain. Each VRO token is directly tied to physical gold stored in secured Swiss vaults, ensuring transparency and verifiable backing. Unlike traditional gold instruments, VeraOne’s tokens are fully liquid, allowing for instant transfers or exchanges within the Ethereum ecosystem. The tokens integrate with VeraCash, which is an online account and debit card service backed by precious metals like gold, silver, and diamonds. This enables users to make global payments and manage digital and physical assets seamlessly.

VeraOne’s Core Offerings:

1. Gold-Backed ERC-20 Token (VRO): Each token is equivalent to a specific quantity of physical gold.
2. Transparent Reserves: Gold holdings are stored in LBMA-certified vaults, with clear traceability.
3. Blockchain Integration: Enables secure, fast transfers and exchanges within the Ethereum network.
4. VeraCash Online Accounts: VeraOne is linked to VeraCash, an online platform offering a multi-metal-backed debit card for everyday spending.
5. Global Usage: The VeraCash debit card can be used at over 40 million merchants worldwide, providing liquidity and accessibility.
6. Alternative Savings: Users can hold savings in precious metals rather than fiat currencies, offering protection against economic instability.

This combination of digital and physical assets provides a unique value proposition for individuals looking for secure, liquid, and transparent options to diversify their investments and manage their wealth.

Security

Each VRO token is fully backed by physical LBMA-certified gold bars stored in secure Swiss vaults, ensuring that the value of every token is tied to a verifiable reserve. The gold is 100% redeemable for account holders with verified identities, adding a layer of trust and stability. By combining blockchain technology with traditional precious metal backing, VeraOne offers a reliable investment option, reducing the risks associated with other cryptocurrencies and expanding to include silver, platinum, and palladium, making it a versatile asset for diversified portfolios.

ERC20 token

ERC-20 tokens are standard digital assets created on the Ethereum blockchain, offering compatibility and interoperability across decentralized applications. In connection with VeraOne, the VRO token is an ERC-20 compliant token backed by physical gold. This ensures that the VRO token can be easily traded, transferred, or integrated with other Ethereum-based platforms, providing flexibility and accessibility while maintaining the stability and security of a gold-backed asset. This enables VeraOne to combine traditional gold value with the benefits of blockchain technology.

AuCoffre Group

The AuCoffre Group is a French-based company specializing in the trading and storage of precious metals like gold and silver. Established in 2009, AuCoffre focuses on providing secure investment solutions, including physical gold ownership and innovative digital assets. The group oversees several subsidiaries, including VeraOne and VeraCash, which integrate traditional precious metals with blockchain technology, offering investors stability and flexibility. AuCoffre’s mission is to make investing in precious metals more accessible and transparent through both digital and physical means.

Key People

• Jean-François Faure:

Jean-François Faure is the founder and CEO of AuCOFFRE.com, a French company specializing in physical gold and silver investments. He also created VeraCash, a gold-backed digital account and debit card service, and VeraOne, a blockchain-based gold token. His focus is on providing secure, transparent investment solutions in precious metals and promoting them as a stable alternative to traditional currencies.

VeraOne´s Whitepaper

Regulation

VeraCash claims to operate under the supervision of the Autorité de Contrôle Prudentiel et de Résolution (ACPR) and mentions collaboration with the Financial Conduct Authority (FCA). However, a search of the FCA’s Financial Services Register did not show a registration specifically for VeraCash. This could indicate that while VeraCash is affiliated with regulated entities, it may not hold direct FCA authorization or registration for its own activities​.

Audit

The audit report for AuCOFFRE.com, conducted by ALS Inspection UK Ltd, verifies the physical presence and secure storage of gold ingots at vaults in Geneva Freeport and Bordeaux. The audit, performed in December 2022 and January 2023, confirmed that the gold inventory matched the records, with strict security measures such as on-site surveillance and access controls. This ensures that all gold products backing VeraCash and VeraOne are stored in ideal conditions, providing reassurance to their clients about the legitimacy and safety of their assets.

Customer Review

• not given

Rating and Conclusion

Rating: Orange

Conclusion: While no major negative reports exist about VeraOne and its subsidiaries, there are compliance uncertainties due to the lack of clear licensing information, particularly with the FCA, which raises concerns. Additionally, the absence of customer reviews and ratings makes it difficult to assess user satisfaction and trustworthiness. Therefore, VeraOne and its related entities are rated Orange from a compliance and customer transparency perspective, indicating potential risk areas that require further clarification.