Goldmoney Inc. to Rebrand and Announces Integration of Key Businesses

Goldmoney Inc., a financial technology company, which operates a global, full-reserve and gold-based financial network, announces a realignment of its operations to target the specific requirements of three different user experiences: Personal, Business, and Wealth. This step is being taken in response to the company’s rapid growth, having surpassed one million customer sign-ups less than one year after the combination of the BitGold and GoldMoney businesses.

As part of this transition, the company will integrate its BitGold and GoldMoney services under a unified Goldmoney identity, later this year:

Goldmoney Personal: will encompass the Company’s self-directed individual savings and payments business, currently operating as BitGold;

Goldmoney Business: will encompass the company’s suite of global payment solutions, including gold payroll, invoicing, and checkout tools currently operating as BitGold Business Accounts and merchant processing;

Goldmoney Wealth: will encompass the company’s Jersey-based precious metal custodian and investment business, which will continue to serve high net worth individuals, families, and institutions currently operating as GoldMoney.

Though the BitGold brand will eventually be phased out, the patent-pending technology upon which it is built will continue to be enhanced and applied to each operating segment.

This realignment is the logical evolution in the development of our business and culminates one year of planning and positioning to bring together GoldMoney and BitGold,” said Roy Sebag, CEO of Goldmoney Inc. “A new brand identity is a fundamental step that reflects the increasing unification of our global operations. As part of this transition, we’ve created a unique look for Goldmoney.com, which will be unveiled later this year.”

Fifteen years ago when I launched GoldMoney, it was not generally appreciated that gold was money and could circulate as currency,” said James Turk, founder of GoldMoney. “So I combined two words to create a name that conveyed gold’s historical and natural role. To further reinforce the company’s gold focus, it is a positive step for the name to now evolve by emphasizing Gold rather than Money, unifying the word as Goldmoney.”

In conjunction with the rebranding and operations realignment, the company is changing its KPI reporting format to better reflect the new direction of the business as one integrated network powering three targeted user experiences: Goldmoney Personal, Goldmoney Business, and Goldmoney Wealth.

We have changed our monthly KPI disclosure format reflecting a deeper understanding of our business,” said Roy Sebag. “We believe a consolidated view of transaction volume, user sign ups, and assets under custody provides a more accurate representation of Goldmoney Inc.’s consolidated performance. Separately, we will continue to publish segmented metrics we feel are relevant in quarterly investor relation presentations and other official investor communication.”

Further highlights of May’s business growth can be viewed at:

[Infographic] Goldmoney KPIs May 2016

Goldmoney Key Performance Indicators

Global Account Signups1

Period Total Signups –

End of Period

Net Increase/Decrease
May 2016 1,052,959 +139,297

 

Global Transaction Volume ($CAD) 2

Period Transaction Volume – for the Month Net Increase/Decrease

 

May 2016 $ 53,199,111 $ -5,492,871

 

Global Customer Assets under Administration ($CAD) 3

Period Customer Assets Net Increase/Decrease
May 2016 $ 1,668,346,146 $ -46,969,164

 

 

  1. Defined as total cumulative user sign ups on the Goldmoney network, including Goldmoney Personal, Goldmoney Business, and Goldmoney Wealth.
  2. Defined as all dealing (buy/sell), deposits, redemptions, and p2p transfer activity on the Goldmoney network, including Goldmoney Personal, Goldmoney Business, and Goldmoney Wealth.
  3. Defined as total segregated and allocated customer precious metals and full reserved currency balances under safekeeping.

Author: Dylan Jones

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