Market Overview

Want To Invest In Bitcoin And Gold At The Same Time? Goldmoney Has Your Back

Want To Invest In Bitcoin And Gold At The Same Time? Goldmoney Has Your Back

The Benzinga Global Fintech Awards are a yearly showcase of the best and brightest in fintech. In preparation for its biggest installment yet in May 2018, we're profiling the companies competing for the BZ Awards.

Our next feature is on Goldmoney.

What does your company do? What unique problem does it solve?

Paul Mennega, Chief Operating Officer: Goldmoney (OTC: XAUMF) is a global leader in precious metal and digital asset investment services, and the world’s largest precious metals payment network.

Safeguarding nearly $2 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. Clients can invest, earn, or spend gold, silver, platinum, palladium, and digital bearer-assets such as Bitcoin and Ethereum through an online account with Goldmoney.

All bullion assets are fully allocated and stored in insured vaults in seven countries. Individuals and businesses can get low costs, convenient 24/7 access, instant global payments, fast settlement, and the security of a closed-loop system with a proprietary digital ledger and exchange.

Who are your customers?

Individuals and businesses are both our customers.

How long have you been in business?

Goldmoney is previously BitGold, which was founded in 2014. In 2015, BitGold acquired the original GoldMoney and integrated the businesses.

Where are you located?

Goldmoney has offices in Toronto, New York, Beijing, and St. Helier, Jersey. Our first branch is located in Toronto’s Yorkville area.

Who is your company's leadership? What kind of experience do they have?

BitGold was co-founded by Roy Sebag and Josh Crumb. Roy ran a successful long and short investment firm for many years. Josh was a top metals economist with Goldman Sachs. The original GoldMoney was founded by James Turk who is now the lead director. He has decades of experience working for top financial institutions around the world.

Who are your investors, if any?

Goldmoney is listed on the Toronto Stock Exchange. More than a quarter of the company is insider ownership, and top 10 investors are mostly institutional investors including Friedberg Mercantile Group, Wellington Management, and Soros Fund Management.

Is there anything else Benzinga should know about your company?

Goldmoney’s investee company Menē Inc. has gained substantial traction since being officially launched in January. Menē designs, manufacturers and markets pure 24 karat gold and platinum investment jewelry that is sold direct –to-consumer in 80 countries. Customers can buy, sell, and exchange Menē jewelry by gram weight at the prevailing market price, plus a transparently disclosed design and manufacturing fee that is no more than 20 percent of the price. Menē’s approach is revolutionizing the western jewelry business model where traditionally consumers pay a hefty price for design and marketing.

To check out companies like Goldmoney for yourself, grab a ticket to the Benzinga Global Fintech Awards May 15-16 in New York.


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