Gold-backed digital payment platform to store physical gold at Canadian Mint
Goldmoney Inc., a gold payment and savings platform that aims to allow people to use gold as a currency, has added the Royal Canadian Mint to its storage network.
Beginning Wednesday, users of Goldmoney’s blockchain technology will be able to purchase reserved physical gold in the Mint’s Ottawa vault, in increments as small as 35 cents. Goldmoney will charge a fee of 0.5 per cent, and buyers won’t be charged a storage fee for up to 1,000 grams of gold.
Before the deal with the Mint, The Brink’s Co. was the sole storage and clearinghouse on the Goldmoney network, transferring gold between buyer and seller.