Goldmoney Inc. and the Royal Canadian Mint have revealed 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. Goldmoney Fintech is putting the Royal Canadian mint-vaulted gold Bullion on a private blockchain.
It is now possible for 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 is the addition of the Mint’s Ottawa vault to the Goldmoney Network. This 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.
Darrell MacMullin, CEO of Goldmoney Network, said: “As a leading fintech company globally, we’re thrilled to collaborate with one of the world’s premier minting facilities. 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.”
Founder and chief strategy officer of Goldmoney Inc., Josh Crumb remarked: “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. 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.”
John Moore, vice-president of sales at the Royal Canadian Mint, commented: “We’re excited to join the Goldmoney Network and offer Goldmoney and its Network users highly-secure storage services at our vaults in Ottawa. We also look forward to working with Goldmoney on future marketing initiatives that demonstrate Canada’s leadership role in the global precious metal industry.”