TORONTO, ONTARIO–(Marketwired – June 20, 2017) – Goldmoney Inc. (TSX:XAU) (“Goldmoney”), a precious metal financial service and technology company, today announced it will begin consolidating its Network and Wealth business divisions into a streamlined service and one unified account: the new Goldmoney Holding®, which incorporates the best features and functionality of current Network and Wealth accounts.
Effective today, all new Goldmoney accounts will be opened as Goldmoney Holdings (Individual, Corporate, Trust).
- Clients with existing Goldmoney Wealth Holdings will instantly experience the new branding and features available to them in their Dashboard.
- Network users who opened an account prior to June 20, 2017 will continue to have full access to their existing accounts, but are encouraged to apply for the new Goldmoney Holding. Once the new Holding is verified, users can transfer metal from any verified Network account into the new Holding free of charge from most Network vaults, resulting in a credit to the same vault in their Holding.
- An improved Referral Program is now available within the new Goldmoney Holding in lieu of the Golden Heart program, which has been discontinued.
“We’ve listened to feedback from our clients for the past two years and recognized that our clients seek more flexibility and choice; all of the innovation, automation, and accessibility of the Goldmoney Network (formerly BitGold) combined with access to multiple metals, multiple currencies, and the additional client services of Goldmoney Wealth,” said Josh Crumb, CFO of Goldmoney. “Therefore, we are upgrading our platform to provide additional functionality from one account that integrates the best features from each service, with a mission to make the new Goldmoney Holding the safest, most accessible and economic, and most powerful precious metals backed savings account in the world.”
“We’ve put a substantial amount of effort into the technical, legal, and regulatory work required to deliver this unique global offering to clients. With a more robust and streamlined service comes clearer growth objectives and refined messaging that we will begin to incorporate into a renewed online and offline client acquisition campaign,” said Roy Sebag, CEO of Goldmoney. “Additionally, we are now communicating a more succinct message to our shareowners, with a unique focus on Return on Metal Weight (ROMW). With a strong balance sheet and no debt, we are well positioned to execute on our vision for growth while balancing the most important pillar of all: our assurances of integrity and safety to our global clients who entrust us with nearly $2 billion of precious metal savings.”
The New Goldmoney Holding®
- Buy and sell 100% reserved and allocated gold, silver, platinum, and palladium at 0.5%.
- Direct metal-to-metal exchanges between all precious metals at 0.75%.
- Insured custody and secure storage at 13 vaults located in six countries that are operated by leading vault providers: Brink’s, G4S, Loomis International, Malca-Amit, Rhenus Logistics, and the Royal Canadian Mint.
- Hold in reserve or exchange up to nine currencies without paying foreign exchange fees (USD, GBP, EUR, CAD, CHF, JPY, NZD, HKD, AUD).*
- Multiple funding and redemption options (bank transfer, debit and credit cards, AliPay, etc.) including physical redemption (bars, GoldCubes, and coins) at vaults or direct-to-consumer delivery via SchiffGold (coming soon).*
- Send and receive free precious metal and currency payments to and from Goldmoney Holding owners globally (gold, silver, platinum, palladium, and all nine available currencies).*
- Goldmoney Mastercard® Prepaid cards in plastic, silver, and 18K gold (available in CHF, EUR, GBP & USD).*
- Earn precious metals and send free metal payments with Goldmoney business tools (payroll & invoicing).*
- New monthly storage credit program rewards active precious metal buyers and sellers.
- Earn precious metal commissions with the Goldmoney Referral Program.*
- Mobile Holding access via the Goldmoney App for iOS and Android.
- Access to wealth services, pension plans, exclusive research, and events.
- Access to the complimentary Goldmoney Concierge service.*
- Dedicated personal Relationship Manager support via phone, email, live chat, and secure message.
“Taking advantage of this new era of financial technology and payment innovation, we proudly unveil the new Goldmoney Holding. With new payment tools, deposit and redemption automation from our mobile app, and multiple currency and metal offerings, the Goldmoney Holding becomes an unrivaled global savings and payments platform,” said Darrell MacMullin, COO and head of payments & technology. “Over the next few months, we will transition and upgrade Goldmoney Network users to the new platform, while continuing to build more tools and business-focused features to achieve our long-term vision of physical gold and precious metal interoperability with global money and payment systems.”
Goldmoney Holdings do not require minimum balances. Basic Holdings have a maximum funding value of $150,000 USD or equivalent. Full Holdings are unlimited. To apply for a free Goldmoney Holding, visit goldmoney.com.
* Limited to Goldmoney clients with Full Holdings.
About Goldmoney Inc.
Goldmoney Inc., a financial service company traded on the Toronto Stock Exchange (TSX:XAU), is a global leader in precious metal investment services and the world’s largest precious metals payment network. Safeguarding $1.9 billion in assets for clients located in more than 150 countries, Goldmoney is focused on a singular mission to make precious metals-backed savings accessible to all. Powered by Goldmoney’s patented technology, the Goldmoney Holding® is an online account that enables clients to invest, earn, or spend gold, silver, platinum, and palladium that is securely stored in insured vaults in seven countries. All bullion assets are fully allocated and physically redeemable property. Goldmoney Wealth Limited is regulated by the Jersey Financial Services Commission (JFSC) as a Money Services Business. Goldmoney Network is a reporting entity to the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC), and is registered with the Financial Crimes Enforcement Network (FinCEN) in the U.S. For more information about Goldmoney, visit goldmoney.com.
This news release contains or refers to certain forward-looking information. Forward-looking information can often be identified by forward-looking words such as “anticipate”, “believe”, “expect”, “plan”, “intend”, “estimate”, “may”, “potential” and “will” or similar words suggesting future outcomes, or other expectations, beliefs, plans, objectives, assumptions, intentions or statements about future events or performance. All information other than information regarding historical fact, which addresses activities, events or developments that the Goldmoney Inc. (the “Company”) believes, expects or anticipates will or may occur in the future, is forward looking information. Forward-looking information does not constitute historical fact but reflects the current expectations the Company regarding future results or events based on information that is currently available. By their nature, forward-looking statements involve numerous assumptions, known and unknown risks and uncertainties, both general and specific, that contribute to the possibility that the predictions, forecasts, projections and other forward-looking information will not occur. Such forward-looking information in this release speak only as of the date hereof.
Forward-looking information in this release includes, but is not limited to, statements with respect to: service times for transactions on the Goldmoney network; growth of the Company’s business, expected results of operations, and the market for the Company’s products and services and competitive conditions. This forward-looking information is based on reasonable assumptions and estimates of management of the Company 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; history of operating losses; future capital needs and uncertainty of additional financing; fluctuations in the market price of the Company’s common shares; the effect of government regulation and compliance on the Company and the industry; legal and regulatory change and uncertainty; jurisdictional factors associated with international operations; foreign restrictions on the Company’s operations; product development and rapid technological change; dependence on technical infrastructure; protection of intellectual property; use and storage of personal information and compliance with privacy laws; network security risks; risk of system failure or inadequacy; the Company’s ability to manage rapid growth; competition; effectiveness of the Company’s risk management and internal controls; use of the Company’s services for improper or illegal purposes; uninsured and underinsured losses; theft & risk of physical harm to personnel; precious metal trading risks; and volatility of precious metals prices & public interest in precious metals investment; and those risks set out in the Company’s most recently filed annual information form, available on SEDAR. 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 update or revise any forward-looking information, except as required by law.