Goldmoney Inc.
TSX : XAU

Goldmoney Inc.

October 25, 2016 07:30 ET

Goldmoney USA Registers with FinCEN

P2P Gold Transfer Capabilities Expanded to More Goldmoney Network Users in the U.S.

TORONTO, ONTARIO--(Marketwired - Oct. 25, 2016) - Goldmoney Inc. (TSX:XAU), a financial technology company operating a global, 100%-reserved gold-based financial network, today announced that its wholly owned subsidiary Goldmoney USA Limited has registered with the Financial Crimes Enforcement Network ("FinCEN"), complying with the Anti-Money Laundering and Know Your Customer standards of a Money Transmitter. The registration will allow Goldmoney to extend P2P gold transfer capabilities to Network users in the United States, enabling them to send and receive title to vaulted gold on the Goldmoney Network via text, email, and other internet-based messaging platforms. The expanded roll out of U.S.-based P2P transfer capabilities and related Network features will continue to occur on a state-by-state basis, and users in approved states will be notified as new features are unveiled.

"We're pleased to expand P2P gold transfer functionality for Goldmoney Personal and Business users in the U.S., enabling more Americans to instantly send and receive any value of gold on our closed-loop network, and efficiently transact globally without unnecessary fees and delays. For the benefit of our Network users and all Goldmoney stakeholders, we are committed to operating the Goldmoney Network at the highest standards of transparency and accountability, including global best practices in account security, regulatory oversight, and compliance," said Josh Crumb, Chief Strategy Officer of Goldmoney Inc. "Effectively connecting fintech innovation with gold, the world's universal and best performing store of value, the Goldmoney Network successfully safeguards users from foreign exchange volatility and the costs and delays of exchanging value globally, while doing so in a safe and transparent environment with appropriate regulatory oversight."

Goldmoney Network users in the U.S. can instantly redeem and settle to a verified bank account in USD within 24 hours, or order physical gold delivery (in cubes, coins, or bars) for one percent of the gold price at redemption. All gold purchased by Goldmoney Network users is 100% allocated, and securely stored and insured without charge in Brink's vaults located around the world.

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 the Goldmoney Network, comprised of Goldmoney Personal and Goldmoney Business, anyone with internet access can buy, sell, transfer, earn, or redeem physical allocated gold. 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 1.27 million user signups from more than 150 countries and $1.8 billion in client assets under administration (as at October 24, 2016). Goldmoney Network is registered with the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC). Goldmoney Wealth is regulated as a Money Services Business by the Jersey Financial Services Commission. For more information about Goldmoney, visit goldmoney.com.

Forward-Looking Statements

This news release contains or refers to certain forward-looking information. Forward-looking information can often be identified by forward-looking words such as "anticipate", "believe", "expect", "plan", "intend", "estimate", "may", "potential" and "will" or similar words suggesting future outcomes, or other expectations, beliefs, plans, objectives, assumptions, intentions or statements about future events or performance. All information other than information regarding historical fact, which addresses activities, events or developments that the Company believes, expects or anticipates will or may occur in the future, is forward-looking information. Forward-looking information does not constitute historical fact but reflects the current expectations the Company regarding future results or events based on information that is currently available. By their nature, forward-looking statements involve numerous assumptions, known and unknown risks and uncertainties, both general and specific, that contribute to the possibility that the predictions, forecasts, projections and other forward-looking information will not occur. Such forward-looking information in this MD&A speak only as of the date of this MD&A. Forward-looking information in this MD&A includes, but is not limited to, statements with respect to: growth of the Company's business, expected results of operations, acquisition of Schiff Gold Inc., and the market for the Company's products and services and competitive conditions.

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; history of operating losses; future capital needs and uncertainty of additional financing; fluctuations in the market price of the Company's common shares; the effect of government regulation and compliance on the Company and the industry; legal and regulatory change and uncertainty; jurisdictional factors associated with international operations; foreign restrictions on the Company's operations; product development and rapid technological change; dependence on technical infrastructure; protection of intellectual property; use and storage of personal information and compliance with privacy laws; network security risks; risk of system failure or inadequacy; the Company's ability to manage rapid growth; competition; effectiveness of the Company's risk management and internal controls; use of the Company's services for improper or illegal purposes; uninsured and underinsured losses; theft & risk of physical harm to personnel; precious metal trading risks; and volatility of precious metals prices & public interest in precious metals investment; and those risks set out in the Company's most recently filed annual information form, available on SEDAR. 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 update or revise any forward-looking information, except as required by law.

Contact Information

  • Media and Investor Relations inquiries:
    Goldmoney Inc.
    Jacquelyn Humphrey
    Director of Global Communications
    jac@goldmoney.com

    Goldmoney Inc.
    Josh Crumb
    Chief Strategy Officer
    +1 647-499-6748