Goldmoney Inc. [XAU-TSX] and the Royal Canadian Mint have unveiled a collaboration focused on the addition of the mint’s secure precious-metal storage facility in Ottawa to the Goldmoney Network and an agreement to explore future co-marketing activities.
As of December 21, 2016, Goldmoney personal and business users can now instantly purchase any amount of 100%-reserved physical gold in the mint’s Ottawa vault using Goldmoney’s proprietary, closed-loop blockchain technology, for a 0.50% fee and receive free storage for up to 1,000 grams through Goldmoney.
The first of several developments to come from the collaboration, the addition of the mint’s Ottawa vault to the Goldmoney Network provides users with a second Canadian storage option, after Toronto.
Network users can also send gold title to anyone for free via text message or e-mail, redeem their gold balance to a Goldmoney MasterCard Prepaid card or bank account in local currency, or make vault-to-vault gold transfers between the mint and seven Brink’s vault locations located around the world via Goldmoney’s web-based dashboard and mobile app for iOS and Android.
“As a leading fintech company globally, we’re thrilled to collaborate with one of the world’s premier minting facilities,” said Darrell MacMullin, CEO, Goldmoney Network. “We’re proud to add the Royal Canadian Mint to the Goldmoney Network, thereby converting mint-vaulted gold bullion into an innovative modern-day money stock while expanding our storage and physical delivery offerings.”
“Through collaborations of this kind, we’re creating innovate ways to match supply and demand of precious metals while further expanding the utility and capabilities of the Goldmoney Network,” said Josh Crumb, a founder and chief strategy officer of Goldmoney. “We look forward to working together with the mint to explore educational co-marketing activities that aim to boost awareness and accessibility of precious metals.”
“We’re excited to join the Goldmoney Network and offer Goldmoney and its network users highly secure storage services at our vaults in Ottawa,” said John Moore, vice-president, sales at the Royal Canadian Mint. “We also look forward to working with Goldmoney on future marketing initiatives that demonstrate Canada’s leadership role in the global precious-metal industry.”
Goldmoney operates the world’s largest 100%-reserved gold-based savings and payments network. Through the Goldmoney Network, anyone with Internet access can buy, sell, transfer, earn or redeem physical allocated gold. Goldmoney has more than 1.34 million user sign-ups from more than 150 countries and $1.7-billion in client assets under administration (as at Dec. 19, 2016).