Gold-Backed Digital Asset
NUBX is a gold-backed digital asset designed to be pegged 1:1 to physical gold. It is not legal tender and is not issued or guaranteed by any government. Currently in the licensing application process with the Financial Services Commission of Mauritius under the VAITOS Act 2021.
Important Notice
NUBX is currently in development and is not yet operational. The project is in the process of applying for the requisite Virtual Asset and Initial Token Offering licence/registration with the Financial Services Commission (FSC) of Mauritius under the Virtual Asset and Initial Token Offering Services Act 2021 (VAITOS Act).
No NUBX tokens have been issued, distributed, or offered for sale. No gold reserves are currently held in relation to this asset. NUBX is not legal tender and is not issued, backed, or guaranteed by any government or central bank. All descriptions on this page refer to the intended design and structure of NUBX upon successful completion of the regulatory approval process and commencement of operations.
Nothing on this page constitutes an offer, solicitation, or recommendation to purchase, sell, or hold any digital asset, virtual token, security, or financial instrument.
Regulatory Framework
The VAITOS Act, enacted via Government Gazette No. 183 of 16 December 2021 and brought into force on 7 February 2022, establishes the comprehensive legal framework for virtual asset service providers and issuers of initial token offerings in Mauritius. NUBX is pursuing licensing/registration under this Act.
Ref: VAITOS Act 2021 — Parts III & IV (Licensing of VASPs & Registration of ITO Issuers)The FSC is the integrated regulator for non-bank financial services in Mauritius, empowered under the VAITOS Act to license, regulate, and supervise VASPs and ITO issuers. The FSC evaluates fitness and propriety of applicants, adequacy of resources, and compliance arrangements before granting any licence.
Ref: VAITOS Act 2021 — Section 6 (Functions of the Commission)Under Part IV of the VAITOS Act, no person may conduct business activities as an issuer of initial token offerings without FSC registration. Applications must be filed at least 45 days before the intended offer period, accompanied by a compliant White Paper providing full disclosure to prospective purchasers.
Ref: VAITOS Act 2021 — Sections 24–30 (Registration of Issuers of ITOs); Section 24 (Prohibition on unregistered issuers)All VASPs and ITO issuers are classified as financial institutions under FIAMLA and must comply with AML/CFT obligations aligned to FATF Recommendation 15. This includes customer due diligence, suspicious transaction reporting, and enhanced obligations under the FSC's AML/CFT Guidance Notes of 28 February 2022.
Ref: FIAMLA; FATF Recommendation 15; FSC AML/CFT Guidance Notes for VASPs and ITO Issuers (Feb 2022)The FSC has issued a suite of binding rules pursuant to Section 52, including: Capital and Other Financial Requirements Rules 2022, Custody of Client Assets Rules 2022, Cybersecurity Rules 2022, Client Disclosure Rules 2022, Risk Management Rules 2022, and the Travel Rules 2022.
Ref: VAITOS Act 2021 — Sections 20 & 52; FSC Rules (2022 Series)As the overarching legislation governing non-bank financial services, the Financial Services Act 2007 underpins the FSC's authority and the Global Business Licence (GBL) framework through which VASP and ITO applicants may structure their Mauritian operations.
Ref: Financial Services Act 2007 (Mauritius); Global Business Licence frameworkDevelopment Roadmap
Intended Design
Pursuing full regulatory compliance under the VAITOS Act 2021 and FSC oversight — one of Africa's most established virtual asset frameworks.
Each NUBX token is designed to be backed by exactly one gram of physical gold, held in a dedicated Special Purpose Vehicle.
Gold reserves intended to be ring-fenced and independently custodied per FSC Custody of Client Assets Rules 2022.
A comprehensive White Paper will be published per VAITOS Act Part IV requirements, providing full and accurate disclosure to participants.
Designed with robust anti-money laundering and counter-terrorism financing controls aligned to FIAMLA and FATF standards.
Upon launch, regular independent audits and verifiable proof of gold reserves to maintain transparency and trust.
NUBX is in the development stage and has not commenced any operations. NUBX is not legal tender and is not issued, backed, or guaranteed by any government, central bank, or monetary authority. The licence application process with the Financial Services Commission of Mauritius is ongoing and there is no guarantee that the application will be approved. All information on this page is provided for general informational purposes only and describes the intended structure and design of the NUBX digital asset.
No representations or warranties are made regarding the accuracy or completeness of information provided. This page does not constitute legal, financial, investment, or tax advice. Prospective participants should seek independent professional advice. Regulatory requirements are subject to change.
Applicable legislation referenced: Virtual Asset and Initial Token Offering Services Act 2021 (Mauritius); Financial Services Act 2007 (Mauritius); Financial Intelligence and Anti-Money Laundering Act (Mauritius); FSC Rules issued under Section 52 of the VAITOS Act (2022 series); FATF Recommendation 15.