Goldmoney adds Royal Canadian Mint to its vault network

Toronto-based Goldmoney is adding Mint’s precious metal storage facility in Ottawa to its vault network.

“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 of 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.”

Goldmoney Personal and Business users can now purchase reserved physical gold in the Mint’s Ottawa vault — and said that the collaboration was notable because it put one of Canada’s oldest institutions on a private blockchain.

“As a leading FinTech company globally, we’re thrilled to collaborate with one of the world’s premier minting facilities,” said Darrell MacMullin, CEO of Goldmoney. “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.”

Users can purchase the gold for a 0.50 percent fee and receive free storage for up to 1,000 grams through Goldmoney. Network users can 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 Brinks vault locations around the world.

This story was originally published by BetaKit.