Goldmoney Inc.
TSX : XAU

Goldmoney Inc.

August 02, 2016 08:30 ET

Goldmoney Inc. Unveils Unified Platform -- The World's Gold Network

The new Goldmoney® Network is the largest gold savings and payments network worldwide, with more than 1.14 million account signups and $1.95 billion in customer assets

TORONTO, ONTARIO--(Marketwired - Aug. 2, 2016) - Goldmoney Inc. (TSX:XAU) ("Goldmoney"), a financial technology company that operates a global, full-reserve and gold-based financial network, today unveiled the new Goldmoney® Network, a unified service representing the combination of the BitGold and GoldMoney businesses under one brand - Goldmoney - with a refreshed look, enhanced user experience, and superior operating model.

  • Unified Goldmoney service features a simplified user experience and operates under three divisions of the Goldmoney brand: Personal, Business, and Wealth.
  • Goldmoney's enhanced operating model and improved marketing focus developed to achieve higher customer lifetime value.
  • New Real-Time Audit system provides unparalleled transparency; displays the number of accounts, transaction volume, customer assets, and activity on the network in real-time.

Goldmoney account types and services

  • Goldmoney Personal: Self-directed individual savings, payments, and global gold transfers (formerly known as BitGold).
  • Goldmoney Business: Offers a suite of global payment solutions, including ecommerce checkout tools and enhanced payout and invoicing capabilities (formerly known as BitGold Business Accounts).
  • Goldmoney Wealth: Enhanced Goldmoney experience with access to all precious metals, nine currencies, a personal relationship manager, and noted Goldmoney research to assist clients seeking wealth preservation.

New accounts structure designed to improve service and increase customer lifetime value

Account segmentation empowers each individual, family, and business by providing more tools and features to help achieve their respective goals. Users can now move value across different account types1, similar to the interplay between traditional chequing, business, and wealth management accounts.

The enhancements improve Goldmoney's service capabilities and provide clients with a suite of tailored offerings under a unified brand, thereby increasing the potential customer lifetime value of our operating model. To view the full accounts comparison, please visit: goldmoney.com/account-comparison.

Goldmoney new Real-Time Audit system and Final KPIs

In the pursuit of near real-time transparency for stakeholders, Goldmoney Inc. historically published monthly Key Performance Indicators ("KPIs"); the monthly disclosure was derived from Goldmoney's guiding principle - the belief that modern financial services businesses should provide transparency on an ongoing basis beyond the requirements for quarterly disclosures and annual audits.

The new Real-Time Audit system discloses the number of accounts, total client assets administered on the platform, transaction volume, and the real-time value of total client holdings stored in each vault location to all stakeholders. Additionally, a global map displays the activity feed from the Goldmoney Personal and Business divisions in real-time - an engineering challenge achieved with innovative technology designed by Goldmoney CTO Alessandro Premoli and team. To view Goldmoney's new Real-Time Audit, please visit: goldmoney.com/newsroom/real-time-audit.

As the new audit system includes cumulative transaction volume on the network (including Goldmoney Wealth activity since inception), we are providing a final snapshot of the KPIs at the end of July 31, 2016. This allows market participants to track future changes from this point forward as well as gain insight into July activity, which saw record transaction volume and assets under custody for the group. This growth was achieved on the lowest marketing spend to date over a 30-day period due in part to the anticipated launch of the unified brand.

Group Key Performance Indicators for July

Users: 1,143,986 +42,187
Transaction Volume: $86,730,805 + $9,350,210
Client Assets: $1,955,975,617 +$102,505,975

Brand assets and BitGold intellectual property

Goldmoney Inc. will continue to hold BitGold intellectual property consisting of international trademarks as well as several published and unpublished patent applications. Goldmoney will continue to invest and enhance its portfolio of intellectual property in accordance with long-term goals, which include supporting innovation and market leadership as the largest global gold savings and payments network.

"We are honoured to share the new Goldmoney with our stakeholders - one financial service that provides 100%-reserved gold-based savings, payments, and wealth services," said Goldmoney CEO Roy Sebag. "We listened to our growing community, and simplified both the user experience and the interplay between our platform offerings. Having one brand that represents what we are - the world's gold network - is an important step in our long-term goal of making Goldmoney synonymous with gold savings and payments worldwide. Our new Real-Time Audit system demonstrates the full capabilities of our network and technology; not only do we power full-reserved and unlevered gold transactions, which is a major accomplishment in and of itself, but we now disclose the financial integrity of our network in real-time - something that no other financial institution in the world has been able to achieve."

"This announcement marks the culmination of countless hours of planning and hard work to realize the unified operation that was envisioned when BitGold and Goldmoney were brought together one year ago. The entire Goldmoney team is to be congratulated on their important achievement," said James Turk, Lead Director of Goldmoney. "With this unified operating system, a dedicated team, and a solid balance sheet with approximately $60 million in cash and liquid assets and no debt, Goldmoney is well positioned to continue building the world's gold network."

"We're thrilled to unveil version 2.0 of our gold-based global savings and payments network," said Josh Crumb, Chief Strategy Officer of Goldmoney. "Our mission is to democratize global access to gold, a unique global savings asset that remains everywhere and always valuable. While we deliver unparalleled access to gold through a technology-focused platform, we also continue to build long-term financial relationships with a global client base, positioning Goldmoney for scale and reach that few other financial services are able to achieve. The unified brand together with an enhanced user experience will allow us to bolster our marketing and customer acquisition in quarters ahead."

1Feature not currently available to United States residents.

About Goldmoney Inc.

Goldmoney Inc. (TSX:XAU) is a mission-driven financial technology company that operates the world's largest 100%-reserved gold-based savings and payments network. Goldmoney® provides financial services as a trusted third-party, combining the unique attributes of gold with technology-driven innovation. Through Goldmoney Personal and Goldmoney Business, anyone with Internet access can buy, sell, transfer, earn, or redeem physical allocated gold on the network. GoldMoney Wealth offers bespoke precious metals custody and wealth services, trading and execution, card services, tax-free retirement accounts and independent research to high net worth individual investors and institutions. GoldMoney Inc. has more than 1,140,000 user signups from more than 150 countries and $1.95 billion in client assets under administration. Goldmoney Personal and Business are regulated as a Dealer in Precious Metals by the Financial Transactions and Reports Analysis Centre of Canada. Goldmoney Wealth is regulated as a Money Services Business by the Jersey Financial Services Commission. For more information about Goldmoney, visit goldmoney.com.

No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein. Neither the TSX nor its Regulation Services Provider (as that term is defined in the policies of the TSX) 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: 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 CONTACT
    Jacquelyn Humphrey
    Director of Global Communications
    Goldmoney Inc.
    jac@goldmoney.com
    +1 647.360.4694

    INVESTOR CONTACT
    Josh Crumb
    Chief Strategy Officer & Director
    Goldmoney Inc.
    +1 647.499.6748