TORONTO--(BUSINESS WIRE)--GoldMoney Inc. (TSX-V:XAU), a full-reserve and gold-based financial service and technology group, announces the launch of automated savings and payments tools for the BitGold platform. The BitGold platform, a self-directed savings platform and payments network, continues to add new tools and features never before available in the consumer gold market, driving innovation by increasing access, lowering friction, and increasing the utility of gold as a form of savings and as universal payment medium.
Now available to BitGold clients, recurring payment tools are designed to increase the functionality and engagement for both savings and payments segments. The recurring savings tool, BitGold’s “Gold that Grows” program, is an automated deposit feature that allows clients to pre-define an accumulation plan set on a daily, weekly, or monthly schedule. Clients can choose from multiple funding sources, including ACH bank transfers and credit cards, and create a self-directed, auto-accumulating gold savings plan through the platform. The recurring payments tool allows users to plan and schedule recurring gold payments anywhere in the world. BitGold payments are a free, instant way to transfer value anywhere in the world, ideal for cross border transactions, connecting family savings across borders, or for internet service payments to or from jurisdictions with illiquid currencies or high fee foreign exchange or banking services fees. With a recurring payment plan, clients can standardize periodic cross-border payments and transfers, increasing the BitGold network utility.
“Recurring saving and payment tools have the potential of become some of the most important features of the BitGold platform,” said BitGold CEO Darrell MacMullin. “Mathematically speaking, gold has retained value in savings better than any global currency since the central banks ceased fixed conversion to gold in the 70’s, even after including the standard deposit interest that banks pay customers for taking solvency risk. Before BitGold however, gold was often viewed as an investment where people timed their purchase given the friction, large minimum denominations, and other time and fees involved in accumulating bullion. Leveraging the BitGold platform’s e-payment integrations and settlement technology, savers can now build positions in gold that align with the unequivocal outperformance of gold over time, while tailoring their savings plan to the size and frequency of their needs with maximum automation and minimum cost and friction.”
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 275,000 clients from over 200 countries and $1.5 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.
Forward-Looking Statements
This news release contains certain “forward-looking information” within the meaning of applicable Canadian securities laws that are based on expectations, estimates and projections as at the date of this news release. Any statements that involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as “expects”, or “does not expect”, “is expected”, “anticipates” or “does not anticipate”, “plans”, “budget”, “scheduled”, “forecasts”, “estimates”, “believes” or “intends” or variations of such words and phrases or stating that certain actions, events or results “may” or “could”, “would”, “might” or “will” be taken to occur or be achieved) are not statements of historical fact and may be forward-looking information and are intended to identify forward-looking information. 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; 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.
