Custody and Storage Policy
How the physical metal backing your digital gold and silver is held, secured, audited, and redeemable.
Pending Legal Review — This document is published in draft form for transparency and has not yet been reviewed or approved by qualified legal counsel. It must not be relied upon as legal advice. The finalised version will replace this page after counsel sign-off.
1. Overview
When you purchase digital gold or digital silver on Virabha, an equivalent quantity of physical precious metal is allocated to your holding and stored by a third-party custodian in a secure vault on your behalf. This policy describes the custodial arrangement, the safeguards in place, and your rights as a beneficial owner.
Several material details of this arrangement are commercially undecided at the time of publication and are marked clearly as placeholders below. These sections will be updated once the custodial agreement is finalised. Do not rely on placeholder sections when making a transaction decision.
2. Custodian Partner
Your physical metal is held by a third-party custodian engaged byVirabha. The custodian is responsible for receiving, storing, auditing, and releasing physical metal on your behalf.
[PLACEHOLDER — Commercially Undecided]
Legal name, registration number, and regulatory status of the custodian partner — to be confirmed once the custodial agreement is executed. — to be confirmed before publication.
3. Vault Location
Physical metal is stored in one or more secured vaults within India. The vault facilities meet industry standards for physical security, access controls, and fire suppression.
[PLACEHOLDER — Commercially Undecided]
Name, city, and state of each vault facility — to be confirmed once the custodial agreement is executed. Multiple locations may be used; details of each will be listed here. — to be confirmed before publication.
4. Ring-Fencing Model
Your metal holding is intended to be segregated from the general assets of Virabha and of the custodian, so that it cannot be used to satisfy the debts of either party.
[PLACEHOLDER — Commercially Undecided]
The precise legal mechanism for ring-fencing — whether via trust, bailment, nominee ownership, or another structure — is undecided and will be set out in the executed custodial and trust deed documentation. — to be confirmed before publication.
5. Insurance and Indemnity
We intend for the custodial arrangement to include insurance cover for the physical metal against theft, fire, natural disaster, and certain other risks.
[PLACEHOLDER — Commercially Undecided]
Name of insurer, policy type, coverage limits, and exclusions — commercially undecided. No insurer has been named or contracted as of this publication. Do not assume any specific insurer or coverage level. — to be confirmed before publication.
6. Audit and Attestation
We intend to have the physical metal holdings independently audited on a regular basis to verify that the quantity of metal in the vault matches the aggregate digital holdings of all users.
[PLACEHOLDER — Commercially Undecided]
Name of the independent audit firm, audit frequency (e.g., quarterly, annually), and format of the published attestation report — commercially undecided. No audit firm has been appointed as of this publication. — to be confirmed before publication.
7. Storage-Free Period and Fees
Virabha intends to offer a storage-free period during which no annual storage charge will be levied on your digital metal holding. After the storage-free period, an annual storage fee may be deducted from your holding in metal terms.
[PLACEHOLDER — Commercially Undecided]
Duration of the storage-free period (e.g., first year of account tenure), and the annual storage fee rate thereafter in grams or percentage — commercially undecided. — to be confirmed before publication.
8. Redemption — Minimums, Fees, and Denominations
You may redeem your digital metal as physical bullion (coins or bars) delivered to your registered address within India, subject to minimum quantity thresholds, applicable making/minting charges, delivery fees, and GST on the physical product.
[PLACEHOLDER — Commercially Undecided]
Minimum redemption quantity (in grams) for gold and silver; available denominations (e.g., 0.5g, 1g, 5g, 10g coins; 100g bars); minting and handling charges; delivery fee schedule — commercially undecided and subject to custodian and mint partner agreements. — to be confirmed before publication.
Redemption requests will be processed within the timeline specified at the time of request (indicatively 7–10 working days for standard delivery; express options will be listed if available). Metal prices are locked at the time of redemption confirmation, not at the time of delivery.
9. Dispute Resolution
Disputes relating to your digital metal balance, custody records, or redemption status should first be raised with Virabha via the Grievance page. We will engage with the custodian on your behalf and provide a response within 7 working days.
In the event of a discrepancy between your account statement and the custodian’s ledger, the custodian’s independently audited records shall be treated as definitive pending resolution.
If a dispute is not resolved through our internal mechanism, you may seek recourse through the civil courts of India. Please also refer to the Risk Disclosure for the limitations on regulatory recourse for digital metal products.