GoldMoney Inc.
TSX VENTURE : XAU

GoldMoney Inc.

September 02, 2015 07:30 ET

GoldMoney Inc. Announces Launch of Mobile Application by BitGold™ Platform

BitGold™ Launches Mobile Application for Android and iOS Platforms

BitGold App Allows Users to Securely Acquire, Store and Spend Gold with Unprecedented Simplicity

TORONTO, ONTARIO--(Marketwired - Sept. 2, 2015) - BitGold (#bitgold), the world's first and only platform for savings (#savings) and payments in gold (#gold), today announced it has launched its mobile application for Android (#android) and iOS (#ios) operating systems. Available today, the official BitGold mobile application is free to download from Google Play and Apple's App Store. BitGold is a wholly owned subsidiary of Canadian-listed GoldMoney Inc. (TSX VENTURE:XAU), a full-reserve and gold-based financial services and technology group.

What is BitGold?

The BitGold platform (web and now mobile) is advancing the digital payments revolution by helping people securely acquire, store and spend fully-allocated gold with unprecedented simplicity. Accounts are free and can be opened in minutes. BitGold provides users with a secure vault account to purchase and hold gold in the vault of their choice using a variety of electronic payment methods, the ability to make and receive instant gold payments, and a prepaid card for spending gold at traditional points of sale.

Every gram owned is the property of the owner and can be fully redeemable as physical 1kg Bullion Bars or 10g GoldCubes®. In addition, users can send and receive gold as payment to and from any BitGold user or seller for free*. BitGold also makes it possible for users to send gold as payment to any non-BitGold users with an email or a mobile phone, and now even easier using existing contacts right from the Mobile App.

The BitGold Mobile App

The BitGold Mobile App provides a rich user experience and offers all the functionality of the desktop platform and more. With the BitGold App, users everywhere can buy physical, titled gold around the world within minutes, or use the App to make and receive free global payments using vaulted gold. Merchants can use the application to accept in-store or online payments and process transactions by tapping into the BitGold network.

App features include:

  • Multi-currency: 106 currencies supported.
  • Instant payments within BitGold network or to native phone contacts: allows users to send gold to other users or non-BitGold contacts via sms, email or social sharing functions by tapping into the contacts already present on their mobile device. Non-BitGold users have 24 hours to sign up and collect their gold, with notifications sent via sms and email.
  • QR payments to simplify point of sale transactions: the BitGold App generates unique QR codes for each user, allowing for instant payments by two unfamiliar parties not required to exchange personal contact information. This QR technology serves as the perfect medium for in-store transactions, allowing purchasers to simply scan a seller's tablet (or printed) QR code to complete a payment.
  • Enhanced BitGold Golden Heart™Program: the BitGold App enhances the Golden Heart program by allowing existing users to share a unique referral link with their native contacts or social sharing, allowing users and their friends to earn gold by growing the network.
  • Multiple deposit methods: the BitGold App delivers unprecedented payment options and user experience through multiple funding rails; bank transfer, credit card, debit card, bitcoin, China UnionPay, Interac and additional deposit methods in the works.
  • Multiple redemption methods: bank transfer, BitGold Prepaid Card load in multiple currencies, physical gold (cubes or bars). The BitGold App serves as a funnel for loading the BitGold Prepaid Cards allowing users to deposit or earn gold and instantly load their card for non-network purchases and ATM withdrawals.

"Our mission is to empower this growing wave of mobile users with a secure gateway to global vaults, while at the same time building a network for the world to transact without so much friction, tolls and inter-bank risks," said BitGold CEO, Darrell MacMullin. "With over 225,000 signups within our first 100 days, we are pleased to see the rapid growth and reception of the BitGold platform. We look forward to launching our next suite of payment tools for the BitGold desktop and mobile platforms this fall."

"In the last quarter alone, over 459 million mobile phones were shipped globally. Watching this profound transformation in how the world connects and transacts has kept us intently focused on our mobile strategy," said GoldMoney CEO, Roy Sebag. "We're proud to unveil a revolutionary new application for this connected mobile community, an unrivaled user experience for savings and payments overlaying the world's most widely accepted and best performing money: gold. We are extremely proud of what's been built so far, and I would like to thank lead mobile engineer Paul Mennega, Chief Design Officer, Mike Busby and our entire engineering team for their tireless efforts these past 6 months."

"As the world's most trusted and sought after form of long term savings, relevant across every country and every income segment, BitGold brings gold to the mobile age with unprecedented utility," said Co-founder and CSO, Josh Crumb. "We've built a technology to protect the wealth of our users and remove financial system friction and tolls at every step. We're proud to unveil a mobile savings and payments platform that is unequivocally on the side of the user, focusing all innovation on the security of acquiring and safeguarding a permanent asset, while providing seamless access and utility."

Press Assets: http://bit.ly/1Ub01dO

About BitGold

BitGold's mission is to make gold accessible and useful in digital payments and secure savings. The BitGold platform provides innovative solutions to the challenge of transacting with fully allocated and securely vaulted gold. BitGold accounts are free and convenient to open by virtually anyone, anywhere* in just minutes. BitGold provides users with a secure vault account to purchase gold using a variety of electronic payment methods. The platform will also provide transaction capability including: instant cross-border gold payments, merchant invoicing and processing for gold, prepaid card spending of gold at traditional points of sale, conversions to a customer's external digital-wallet or bank, and physical gold redemptions. All physical gold acquired through the platform is owned by the customer, stored in vaults administered by The Brink's Company, acting through Brink's Global Vault Services International, Inc. ("Brink's"), which insures gold through third party insurance providers.

BitGold is a Canadian corporation with offices in Toronto, Canada, and Milan, Italy. BitGold has partnered with established professionals in bullion dealing, vault security and web security, payment processing, and is committed to best-practice systems for compliance with all applicable laws and regulations regarding anti-money Laundering ("AML") and Know Your Customer ("KYC").

*The BitGold Platform is unavailable to residents of sanctioned countries. BitGold payment p2p features are not yet available in the U.S.

About GoldMoney Inc.

GoldMoney Inc. (TSX VENTURE:XAU) is a global full-reserve and gold-focused financial services business. Through GoldMoney®, the company offers individuals and institutions with precious metals custody, investment and wealth management services. Through BitGoldtm the company operates a self-directed savings platform and payments network allowing individuals and businesses to make or receive online, in-store or mobile payment. GoldMoney Inc. has over 200,000 customers from over 200 countries and $1.5 Billion in client assets under custody. GoldMoney is regulated by the Jersey Financial Services Commission (JFSC) as a Money Services Business. The JFSC is the main supervisory body that oversees and regulates Jersey's large financial services industry. For more information on BitGold, visit bitgold.com. For more information on GoldMoney Inc., visit ir.goldmoney.com.

No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein. Neither the TSX-V nor its Regulation Services Provider (as that term is defined in the policies of the TSX-V) accepts responsibility for the adequacy of this release.

Forward-Looking Statements

This news release contains certain "forward-looking information" within the meaning of applicable Canadian securities laws that are based on expectations, estimates and projections as at the date of this news release. Any statements that involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as "expects", or "does not expect", "is expected", "anticipates" or "does not anticipate", "plans", "budget", "scheduled", "forecasts", "estimates", "believes" or "intends" or variations of such words and phrases or stating that certain actions, events or results "may" or "could", "would", "might" or "will" be taken to occur or be achieved) are not statements of historical fact and may be forward looking information and are intended to identify forward-looking information. 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: risk factors relating to the Company's limited operating history; future capital needs and uncertainty of additional financing; the competitive nature of the industry; unproven markets for the Company's product offering; volatility of gold prices & public interest in gold investment; lack of regulation and customer protection; the need for the Company to manage its planned growth and expansion; the effects of product development and need for continued technology change; protection of proprietary rights; the effect of government regulation and compliance on the Company and the industry; network security risks; the ability of the Company to maintain properly working systems; foreign currency and gold trading risks; use and storage of personal information and compliance with privacy laws; use of the Company's services for improper or illegal purposes; global economic and financial market conditions; uninsurable risks; and those risks set out in the Company's public documents filed on www.sedar.com. 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 revise or update any forward-looking information other than as required by law.

Contact Information

  • Media Inquiries, please contact:
    James Little
    The LaunchPad Agency
    Tel.: 310-529-9793
    james@launchpadagency.com

    Glenn Mandel
    The LaunchPad Agency
    Tel: 760-798-1563
    glenn@launchpadagency.com

    For more information, please contact:
    Josh Crumb
    Chief Strategy Officer & Director
    GoldMoney Inc.
    Tel.: 647-499-6748