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.
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.
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Contacts:
Josh Crumb, 647-499-6748
Chief Strategy
Officer & Director
