TORONTO--(BUSINESS WIRE)--GoldMoney Inc. (TSX-V: XAU), a full-reserve and gold-based financial service and technology group, is pleased to announce a phased launch of gold-to-gold transfer services for U.S. BitGold customers starting in April 2016.
Since launching in the U.S. in July of 2015, U.S. based BitGold users have been restricted from send gold, request gold and related transfer tools on the BitGold platform. These tools allow users to transfer title to gold held in Brink’s vaults to other users. The Company will begin offering these gold transfer services to U.S. users on a state by state basis starting in April. The specific timetable for the state-by-state launch will be announced to users shortly. Further, upon the upcoming launch of BitGold for Business, businesses in these states will also be able to engage in B2B and B2C gold transfer services.
“We are very excited to launch gold payment and transfer services for U.S. based customers,” said Darrell MacMullin, CEO of BitGold. “BitGold is a global platform for payments and savings in gold, a technology that allows instant transfer of title to stable and secure vaulted-gold bullion between known-clients anywhere in the world. We believe these services have large-scale potential to lower costs and reduce friction and settlement risk in the growing segments of cross border e-commerce and remittance in particular. Our U.S. based users represent over 10% of the network and we look forward to enabling these additional services on a state by state basis over the remainder of 2016.”
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 enabling individuals and businesses to make or receive online, in-store or mobile payments. GoldMoney Inc. has over 750,000 clients from over 200 countries and regions 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.
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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.
