CGO

Comtech Gold (CGO)

· 49/100as of 2026-10-24

CGO is ComTech's tokenized gold from the UAE, each token redeemable for 1 gram of 24K physical gold stored in DMCC-endorsed Transguard vaults.

GOLD-Pegged RWA-Backed Centralized

Price (GOLD)

$127.8595

N/A

Market cap

$3.07M

USD-normalized

+0.11% 24h

Supply

24.00K CGO

-0.00% 7d

-0.00% 30d

DEWSCalm8/100 · as of 2026-10-24

Peg

Liq29as of 2026-10-24

30d Excess

Price (GOLD)

$127.8595

N/A

Market cap

$3.07M

USD-normalized

+0.11% 24H

Supply

24.00K CGO

-0.00% 7D · -0.00% 30D

30d Excess

MechanismCommodity ClaimMintingIssuer direct FreezeYesChains1 JurisdictionUAE AttestorSelf-attested

MintingIssuer direct FreezeYesChains1 JurisdictionUAE AttestorSelf-attested

DMCC-Stamped Bullion

CGO is ComTech Gold's tokenized gold from the UAE, one token per gram of 24-karat 999.9 fineness bullion held in segregated Transguard vaults, with bars registered on DMCC Tradeflow and the issuer licensed under DAFZA. Holders can redeem for physical gold through the ComTech app, but Pharos has reviewed that path only on paper: no score-eligible runtime route is compiled, so the exit pillar grades the documentation rather than an observed exit. The D overall grade is set by the economic-control pillar, the weakest of the three. The sole XDC deployment is minted through a controller whose owner, executor, and minter roles all resolve to one 2-of-4 Safe with no cumulative cap, and reserve evidence consists of self-signed gold-stock letters with issuer DMCC screenshots rather than a third-party ; the newest routine custodian audit entry dates from March 2025. The peg record is the strongest line on the card, tracking gold over several years with a long tail of brief deviations. Dubai's clarity on is a real credential, but the governing agreement and any rehypothecation prohibition remain unpublished, and until an independent reserve report appears the license carries more weight than the evidence.

Claims as of 2026-09-07

Updated 2026-09-07 · AI summary · drafted by claude-fable-5-1 · facts as of 2026-09-07

AI policy

Centralized (CeFi)|Compare

Backing evidence

CGO

Segregated

Held by

TransGuard Group100%

SegregatedIn place: Segregated accounts
Bankruptcy-remotePartly in place: Contractual only
No rehypothecationUnknown

Reserves sit with one named custody provider; client assets are held in segregated accounts with contractual-only bankruptcy protections.

Confidence: Verified

Providers (1)

TransGuard Group
Custodian · United Arab Emirates
100%

Review notes & sources (4)

ComTech identifies TransGuard and states that the allocated gold is segregated, off balance sheet, and unavailable to general creditors. The public materials do not provide the governing custody agreement or an explicit rehypothecation prohibition.

Reviewed 2026-08-08

Exit evidence

Redemption route · Waiting for section

Redemption evidence loads when the Risk section approaches the viewport.

Control evidence

CGO

Mint Authority

The issuer mints CGO directly, controlled by a 2/4 Safe; supply is unbounded under adverse authority.

Confidence: VerifiedControl posture: Multisig controlled

Control map

IssuerIssuer direct

ControlsDirect minter Safe2/4No timelockFacilitator

SupplyCGOUnbounded, adverse authority

Scoring breakdown

Derived posture Unknown

Component score Loading

The current Safety Score publication is loading; reviewed mint authority evidence is shown below.

Primary controls (2)

CGO 2/4 Safe mint and ownership authority
Direct minter / Safe
xdc / 0xc639b4...8c6fa1
MintDirectSetupSafe, 2/4 thresholdDelayNo timelockSafe modules/guardNo modules or guards detected
The normal controller route mints exactly 1,000 CGO per completed bar/warrant operation, but has no cumulative or time-window cap. The same Safe can transfer token ownership to an arbitrary new owner that can call Goldtoken.mint(address,uint256) without the controller bound.
Immutable CGOController two-step mint router
Facilitator / Contract
xdc / 0x21f74f...bbf096
MintNone
Fixed code requires initiation followed by execution and exactly 1,000 CGO per bar/warrant operation; ultimate authority remains the controller-owning Safe.

Review notes & sources (12)

CGO's sole authored deployment is the canonical XDC Goldtoken, and its CGOController is a native issuance router rather than a bridge adapter. The token owner is CGOController 0x21f74fbf81d68291704805d085982000babbf096. At the cutoff, the controller's owner, initiator, executor, and minter-wallet addresses all resolved to the same immediate 2-of-4 Safe at 0xc639b48ea44e94f1a69da11974a29e6ddb8c6fa1. Native minting requires one Safe transaction to initiate a unique bar/warrant pair and a second Safe transaction to mint exactly 1,000 CGO, but there is no cumulative or time-window cap. The Safe can immediately replace all operational addresses or transfer token ownership to a new address, bypassing the controller's per-operation bound and exposing the token's uncapped owner-only mint function. No bridge representation or bridge administrator is evidenced, so these native route checks are not bridge risk.

Control posture

Material control is classified as requiring approval from a defined group of signers through a multisignature account.

Centralized (CeFi) is the broader governance classification. Control posture describes more precisely where operational authority sits.

Control posture is not a Safety Score input. Economic Control is scored from the reviewed mint authority, oracle and bridge evidence.

Reviewed 2026-08-16

CGO

Freezable

A reviewed issuer or protocol control can freeze or seize this token in holders' wallets.

Rationale only

Power and scope

PowerFreezable

Review notes & sources (2)

XDC is the sole deployment (100% of supply; census 2026-10-19). CGO 0x8f9920283470f52128bf11b0c14e798be704fd15 is the XDCScan-verified exact-match Goldtoken (Solidity v0.7.6, non-proxy): it exposes owner-gated blacklistUpdate(address user, bool value) and isBlackListed(address), emits BlacklistUpdated(user,value), and its transfer/transferFrom revert with 'Token transfer refused. You are on blacklist' / 'Receiver is on blacklist'. At XDC block 108493643 (2026-10-19): name='Comtech Gold', symbol CGO, decimals 18, totalSupply 24,000.000000, owner=0x21F74FBF81D68291704805D085982000Babbf096. The owner is the CGOController contract; CGOController.owner() is a live Gnosis Safe 1.3.0 at 0xc639B48Ea44E94F1A69DA11974a29e6DDb8c6Fa1 with threshold 2 of 4 non-zero owners; CGOController.tokenAddr() returns the CGO token and a simulated blacklistUpdate(0xbeef,true) from the Safe succeeds, as does token.blacklistUpdate simulated from the controller. This is an active, holder-targeted issuer blacklist: Yes. mint(address,uint256) is onlyOwner (issuance, not holder-facing); burn/burnFrom are allowance/self paths; no pause/seize/forced-transfer function exists. Reserves are allocated physical gold (TransGuard vaults, UAE) which qualify as a custodial reserve as allocated physical commodity held with a custodian, but the direct blacklist is decisive. An earlier review's claim that 'probes revert, so no holder-targeted control exists' is false: it probed isBlacklisted(address) [0xfe575a87] instead of isBlackListed(address) [0xe47d6060] and blacklist(address) instead of blacklistUpdate(address,bool) [0xb351dfe8].

No public source. Resolved from Pharos stablecoin metadata by the blacklistability resolver; no separate manual override source is attached.

Reviewed 2026-10-19

Bridging & deployments

Not applicableSingle-chain / native

Regulatory standing

Not reviewed

Pharos physical-exit method limit

CGO's bounded physical-exit treatment reflects a Pharos method limit: Pharos has not established comparable same-notional physical-gold-to-USD execution evidence. This is not a measured failure of the issuer's physical-redemption route, and physical delivery is not assumed to be immediately realizable USD.

Key links

Website Twitter

Proof of Reserves

Self-Reported PoR by ComTech FZCO self-signed gold-stock letters with issuer DMCC Tradeflow screenshots; quarterly custodian audits advertised but newest routine-audit entry is 2025-03-21

View reserves

Contracts

1 deployment tracked across XDC Network.

Primary contract

XDC Network

0x8f99...fd15

View on XDC Network explorer

XDC Network0x8f99...fd15

Supply & Liquidity

History

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Peers

KAU

Depeg history

CGO depeg Feb 2026 CGO depeg Feb 2026 CGO depeg Feb 2026 CGO depeg Feb 2026 CGO depeg Jan 2026

Taxonomy

All Gold stablecoins Centralized (CeFi) stablecoins Real-World Asset Backed stablecoins

Trackers

Stablecoin safety scores DEX liquidity rankings Depeg tracker See all commodity-backed stablecoins

Actions

Open CGO in live compare Set CGO Telegram alerts Browse stablecoin comparisons Read the daily digest Use the Pharos API

Profile

CGO profile facts

Comtech Gold (CGO) static profile: governance model Centralized (CeFi); backing model Real-World Asset Backed; peg Gold.

Centralized (CeFi)Real-World Asset Backed Gold

Collateral: Physical gold (999.9 fineness, 24-carat) stored in insured, segregated vaults with Transguard (Emirates Group) in the UAE; each bar registered on DMCC Tradeflow with unique ID and refiner certificates; 1 CGO = 1 gram of gold
Peg mechanism: Issuer-managed gold trading and physical redemption. The FAQ advertises app delivery from 10 grams in one-gram multiples, while the governing 23 August 2022 terms require one kilogram and further one-kilogram denominations for direct reserve redemption. Authorized-partner gold or jewellery exchange is a separate route from one gram. Making and delivery charges apply; neither the FAQ nor terms establish a completed delivery or spendable-USD payout deadline.
Jurisdiction: United Arab Emirates / DAFZA / DAFZA; endorsed by DMCC
Proof of reserves: Self-Reported PoR by ComTech FZCO self-signed gold-stock letters with issuer DMCC Tradeflow screenshots; quarterly custodian audits advertised but newest routine-audit entry is 2025-03-21 Reserve source
Contracts: 1 deployment tracked across XDC Network.

Source: Pharos registry profile fields. Live price, supply, reserve, liquidity, event, and safety data load in the interactive dossier on this page.

CGO quick answers

What is Comtech Gold (CGO)?

CGO is ComTech's tokenized gold from the UAE, each token redeemable for 1 gram of 24K physical gold stored in DMCC-endorsed Transguard vaults. The static profile records its Gold peg mechanism as: Issuer-managed gold trading and physical redemption.

Is CGO safe?

As of Oct 24, 2026, Pharos grades CGO D (49/100) on its Safety Score. Pharos's reviews record that the issuer or an admin can freeze individual holders' balances, and direct redemption is limited to customers the issuer has verified. That is a low-band grade, which flags significant structural risk. The grade moves as reserve, redemption, peg and control evidence changes; the live Safety Score on this page shows the current reading.

What backs CGO?

Pharos records CGO's reserves as of Feb 26, 2026 as 100% Allocated physical gold (24K, TransGuard vaults in the UAE). Reserve evidence: Self-Reported PoR. Pharos classifies the backing as Real-World Asset Backed.

Can CGO be frozen or blacklisted?

Based on tracked contract metadata and blacklist coverage, issuer or admin freeze controls are recorded.

How do you redeem CGO?

Under the route Pharos reviewed on Sep 21, 2026, customers the issuer has verified can redeem CGO for physical metal, starting at 1,000 CGO. Settlement takes multiple days. The fee is variable or not fully published. Whether a given holder qualifies is set by the route's own terms, not by this summary.

Backing evidence

CGO

Segregated

Held by

TransGuard Group100%

SegregatedIn place: Segregated accounts
Bankruptcy-remotePartly in place: Contractual only
No rehypothecationUnknown

Reserves sit with one named custody provider; client assets are held in segregated accounts with contractual-only bankruptcy protections.

Confidence: Verified

Providers (1)

TransGuard Group
Custodian · United Arab Emirates
100%

Review notes & sources (4)

Reviewed 2026-08-08

Control evidence

CGO

Mint Authority

The issuer mints CGO directly, controlled by a 2/4 Safe; supply is unbounded under adverse authority.

Confidence: VerifiedControl posture: Multisig controlled

Control map

IssuerIssuer direct

ControlsDirect minter Safe2/4No timelockFacilitator

SupplyCGOUnbounded, adverse authority

Scoring breakdown

Derived posture Unknown

Component score Loading

The current Safety Score publication is loading; reviewed mint authority evidence is shown below.

Primary controls (2)

CGO 2/4 Safe mint and ownership authority
Direct minter / Safe
xdc / 0xc639b4...8c6fa1
MintDirectSetupSafe, 2/4 thresholdDelayNo timelockSafe modules/guardNo modules or guards detected
The normal controller route mints exactly 1,000 CGO per completed bar/warrant operation, but has no cumulative or time-window cap. The same Safe can transfer token ownership to an arbitrary new owner that can call Goldtoken.mint(address,uint256) without the controller bound.
Immutable CGOController two-step mint router
Facilitator / Contract
xdc / 0x21f74f...bbf096
MintNone
Fixed code requires initiation followed by execution and exactly 1,000 CGO per bar/warrant operation; ultimate authority remains the controller-owning Safe.

Review notes & sources (12)

Control posture

Material control is classified as requiring approval from a defined group of signers through a multisignature account.

Centralized (CeFi) is the broader governance classification. Control posture describes more precisely where operational authority sits.

Control posture is not a Safety Score input. Economic Control is scored from the reviewed mint authority, oracle and bridge evidence.

Reviewed 2026-08-16

CGO

Freezable

A reviewed issuer or protocol control can freeze or seize this token in holders' wallets.

Rationale only

Power and scope

PowerFreezable

Review notes & sources (2)

No public source. Resolved from Pharos stablecoin metadata by the blacklistability resolver; no separate manual override source is attached.

Reviewed 2026-10-19

Bridging & deployments

Not applicableSingle-chain / native

Regulatory standing

Not reviewed

Comtech Gold (CGO)

DMCC-Stamped Bullion

Backing evidence

Custody

Exit evidence

Redemption route · Waiting for section

Control evidence

Mint Authority

Control posture

Freeze & seizure

Bridging & deployments

Regulatory standing

Key links

Contracts

Supply & Liquidity#

History#

Explore#

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CGO profile facts

CGO quick answers

Comtech Gold (CGO)

DMCC-Stamped Bullion

Mechanism

Peg mechanism

Collateral

Peg mechanism

Collateral

Mechanism review

Reserves

Backing evidence

Custody

Exit evidence

Redemption route · Waiting for section

Control evidence

Mint Authority

Control posture

Freeze & seizure

Bridging & deployments

Regulatory standing

Key links

Contracts

Supply & Liquidity#

History#

Explore#

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Mechanism

Peg mechanism

Collateral

Peg mechanism

Collateral

Mechanism review

Reserves

Supply & Liquidity

History

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Supply & Liquidity

History

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