Goldmoney, a financial technology company operating a global, 100%-reserved gold-based financial network, has launched P2P gold transfers for US users.
The rollout will enable Goldmoney personal and business account users in the US to send and receive gold on the Goldmoney Network. The expansion will also enable Goldmoney, which earlier this month released a new version of its Goldmoney App for iOS and Android devices, to distribute its technology across other wallets and financial platforms.
Josh Crumb, co-founder and chief strategy officer of Goldmoney, said: “We’re pleased to extend P2P gold transfer functionality to U.S. users, enabling Americans to instantly send and receive any value of gold on our closed-loop network, and efficiently transact across borders and between currencies without unnecessary fees and charges. Effectively connecting fintech innovation with gold, the world’s universal and best performing store of value, the Goldmoney Network successfully safeguards users from the volatility and targeted-devaluation of currencies and the high costs of exchanging value globally.”
Goldmoney Network users in the US can instantly redeem and settle to a verified bank account in USD within 24 hours, or order physical gold delivery in cubes, coins or bars for one percent of the gold price at redemption.
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Gold transcends borders because its value is timeless and universal.
All gold purchased by Goldmoney Network users is 100 percent allocated, and securely stored and insured without charge in Brink’s vaults which are located around the world.
Darrell MacMullin, CEO of Goldmoney Network, added: “Gold transcends borders because its value is timeless and universal, and transacting in gold puts the world at par. Global commerce is negatively impacted by the cost and delays of foreign exchange, as well as the increasing uncertainty caused by currency manipulation and devaluations. Our merchant tools aim to fuel business growth globally by making it simple to request and receive gold for goods and services from customers and clients around the world.”
Goldmoney Personal and Business Features
New Goldmoney personal features for US users include sending and receiving vaulted gold through the company’s network free of charge via email or mobile phone number. Gold received is vaulted and insured and can be automatically redeemed to currency in a linked bank account or by delivery of physical metal.
Business features include the ability to send gold remittances and micro transactions instantly to multiple recipients worldwide with the Goldmoney Payout tool, elimination of cross-border and foreign exchange fees, and invoicing international customers for goods and services which can be paid in any currency via credit card, debit card, or bank transfer, and received as vaulted gold.