Goldmoney integrates Network and Wealth account features and functionality into one unified account offering
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).
"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®
"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.
Forward-Looking Statements
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.
Media and Investor Relations Inquiries:
Jacquelyn Humphrey
Director of Global Communications
Goldmoney Inc.
[email protected]
Josh Crumb
Chief Strategy Officer & CFO
Goldmoney Inc.
+1 647-499-6748