Goldmoney Fintech Puts Royal Canadian Mint-Vaulted Gold Bullion on a Private Blockchain
Goldmoney Inc. and the Royal Canadian Mint (“the Mint”) today 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 today, 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 email, 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 innovative 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 Inc. “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.”