GoldMoney Launches World’s First Gold Balance Funded Prepaid Card Via the BitGold Platform
November 13 2015 - 7:30AM
Business Wire
GoldMoney Inc. (TSX-V: XAU), a full-reserve and gold-based
financial service and technology group, is pleased to announce that
after a successful beta program, its wholly owned BitGold platform
has today launched the GoldMoney Prepaid program. The Prepaid
program aims to empower hundreds of thousands of platform clients
with a payment method accepted by over 35 million merchants
worldwide, giving access and payment utility to fully-reserved and
gold-based savings.
The GoldMoney Prepaid card is free to request and available to
qualified users on the platform with a 1 gram or more settled gold
balance and a valid ID and utility bill. The prepaid card program
will also be available to GoldMoney platform customers in the near
future.
“Gold is the world’s best performing money for savings when
measured objectively against global currencies over the average
human savings cycle, and now we are making it accessible and useful
through today’s payment technologies,” said Roy Sebag, CEO of
GoldMoney. “With the launch of this prepaid card we now embark on
the second phase of our platform evolution into payments thereby
increasing the utility of our network. We also unveil an important
second business line that will generate recurring revenue and
contribute to increased velocity, allowing us to match internal
liquidity and earn transaction spreads devoid of processing
costs.”
“The prepaid program offers users many conveniences and
versatility, with or without a large gold savings balance,” added
Darrell MacMullin, BitGold CEO. “Our clients can easily access
their wealth in three convenient currencies at one low
gold-conversion rate, thus no longer exposed to high foreign
exchange fees when traveling throughout the USA, Europe or the
United Kingdom. The prepaid program is also great for shopping
online in different currencies, or sending gold value across the
world where it can easily be converted and spent as foreign
currency - useful for students, foreign workers, or for remittance
value transfers.”
About GoldMoney
GoldMoney Inc. is a global, full-reserve and gold-based
financial services group. GoldMoney provides financial services as
a trusted, limited third-party, combining the unique attributes of
gold with technology-driven innovation. Through GoldMoney® the
company offers precious metals custody and wealth services, trading
and execution, and independent research to individual investors and
institutions. Through BitGold™ the company operates a self-directed
savings platform and a payments network allowing individuals and
businesses to make or receive online, in-store or mobile payments.
GoldMoney Inc. has over 450,000 clients from over 200 countries and
$1.6 billion in client assets under administration. GoldMoney is
regulated by the Jersey Financial Services Commission (JFSC) as a
Money Services Business. The JFSC is the main supervisory body that
oversees and regulates Jersey's large financial services industry.
For more information on BitGold, visit bitgold.com. For more
information on GoldMoney, visit ir.goldmoney.com.
No stock exchange, securities commission or other regulatory
authority has approved or disapproved the information contained
herein. Neither the TSX-V nor its Regulation Services Provider (as
that term is defined in the policies of the TSX-V) accepts
responsibility for the adequacy of this release.
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at the time it was made, and involves known and unknown risks,
uncertainties and other factors which may cause the actual results,
performance or achievements of the Company to be materially
different from any future results, performance or achievements
expressed or implied by such forward-looking information. Such
factors include, among others: the Company’s limited operating
history; future capital needs and uncertainty of additional
financing; the competitive nature of the industry; unproven markets
for the Company’s product offering; volatility of gold prices &
public interest in gold investment; lack of regulation and customer
protection; the need for the Company to manage its planned growth
and expansion; the effects of product development and need for
continued technology change; protection of proprietary rights; the
effect of government regulation and compliance on the Company and
the industry; network security risks; the ability of the Company to
maintain properly working systems; foreign currency and gold
trading risks; use and storage of personal information and
compliance with privacy laws; use of the Company’s services for
improper or illegal purposes; global economic and financial market
conditions; uninsurable risks; and those risks set out in the
Company’s public documents filed on www.sedar.com.
Although the Company has attempted to identify important factors
that could cause actual results to differ materially, there may be
other factors that cause results not to be as anticipated,
estimated or intended. There can be no assurance that such
statements will prove to be accurate as actual results and future
events could differ materially from those anticipated in such
statements. Accordingly, readers should not place undue reliance on
forward-looking information. The Company undertakes no obligation
to revise or update any forward-looking information other than as
required by law.
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GoldMoney Inc.Josh Crumb, 647-499-6748Chief Strategy
Officer & Director