The Royal Canadian Mint has partnered with the financial technology company Goldmoney Inc. in order to add its secure precious metal storage facility in Ottawa to the Goldmoney Network.
With this collaboration, the Mint’s Ottawa vault will be added to the Goldmoney Network, thereby providing users with a second Canadian storage option, after Toronto. Goldmoney Personal and Business users can now instantly purchase any amount of 100% reserved physical gold in the Mint's Ottawa vault using Goldmoney's proprietary, closed-loop blockchain technology, for a 0.50% fee and receive free storage for up to 1,000 grams through Goldmoney, the release said.
"As a leading fintech company globally, we're thrilled to collaborate with one of the world's premier minting facilities," said Darrell MacMullin, CEO, Goldmoney Network. "We're proud to add the Royal Canadian Mint to the Goldmoney Network, thereby converting Mint-vaulted gold bullion into an innovative modern-day money stock while expanding our storage and physical delivery offerings."
Additionally, network users can also send gold title to anyone for free via text message or email, redeem their gold balance to a Goldmoney Mastercard Prepaid card or bank account in local currency, or make vault-to-vault gold transfers between the Mint and seven Brink's vault locations located around the world via Goldmoney's web-based Dashboard and mobile app for iOS and Android.
"Through collaborations of this kind, we're creating innovate ways to match supply and demand of precious metals while further expanding the utility and capabilities of the Goldmoney Network," said Josh Crumb, a founder and chief strategy officer of Goldmoney Inc. "We look forward to working together with the Mint to explore educational co-marketing activities that aim to boost awareness and accessibility of precious metals."
According to the official release, the Royal Canadian Mint hand Goldmoney have also entered an agreement to explore future co-marketing activities.
"We're excited to join the Goldmoney Network and offer Goldmoney and its Network users highly-secure storage services at our vaults in Ottawa," said John Moore, vice-president, sales at the Royal Canadian Mint. "We also look forward to working with Goldmoney on future marketing initiatives that demonstrate Canada's leadership role in the global precious metal industry."
