Goldmoney Inc. Launches P2P Transactional Gold in the U.S.

  • Payments
  • 26.10.2016 10:30 am

Goldmoney Inc. (TSX:XAU), a financial technology company operating a global, 100%-reserved gold-based financial network, today announced the launch of P2P gold transfers for U.S. users at Money 20/20, the world's largest payments and financial services innovation event.

The roll out will occur on a state-by-state basis, and will enable Goldmoney Personal and Business account users in the U.S. to send and receive gold on the Goldmoney Network. Furthering advancement in cross-border commerce, the U.S. expansion will also enable Goldmoney Inc. to distribute its technology across other wallets and financial platforms.

“We believe transferring value globally should be fast and cost-effective. We’re pleased to extend P2P gold transfer functionality to U.S. users, enabling Americans to instantly send and receive any value of gold on our closed-loop network, and efficiently transact across borders and between currencies without unnecessary fees and charges,” said Josh Crumb, co-founder and chief strategy officer of Goldmoney Inc. “Effectively connecting fintech innovation with gold, the world’s universal and best performing store of value, the Goldmoney Network successfully safeguards users from the volatility and targeted-devaluation of currencies and the high costs of exchanging value globally.”

Goldmoney Network users in the U.S. can instantly redeem and settle to a verified bank account in USD within 24 hours, or order physical gold delivery (in cubes, coins, or bars) for one percent of the gold price at redemption. All gold purchased by Goldmoney Network users is 100% allocated, and securely stored and insured without charge in Brink’s vaults located around the world.

“Gold transcends borders because its value is timeless and universal, and transacting in gold puts the world at par. Global commerce is negatively impacted by the cost and delays of foreign exchange, as well as the increasing uncertainty caused by currency manipulation and devaluations. Our merchant tools aim to fuel business growth globally by making it simple to request and receive gold for goods and services from customers and clients around the world,” said Darrell MacMullin, CEO, of Goldmoney Network. “By using gold as a worldwide remittance rail, U.S.-based freelancers and small business owners can expand their sales globally and pay suppliers, partners, and employees while protecting their earnings and working capital.”


New Goldmoney Personal Features for U.S. Users

  • Send and receive vaulted gold through the Goldmoney Network for free via email or mobile phone number. Gold received is vaulted and insured, and can be automatically redeemed to currency in a linked bank account or by delivery of physical metal.


New Goldmoney Business Features for U.S. Users

  • Send gold remittances and micro transactions instantly to multiple recipients worldwide (employees, commissions, dividends, rebates or rewards) with the Goldmoney Payout tool.
  • Invoice international customers for goods and services. Invoices can be paid in any currency via credit card, debit card, or bank transfer, and received as vaulted gold.
  • Instantly receive gold from vendors, contractors, and customers for only one percent per transaction. Transfer to international suppliers or retain gold balance to securely store earnings for free.
  • Elimination of cross-border and foreign exchange fees.

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