GoldMoney

GoldMoney Inc
Public
Traded as TSX: XAU
Industry Holding Company
Founders James Turk
Roy Sebag
Josh Crumb
Headquarters Jersey, Crown Dependency, United Kingdom and Toronto, Canada
Area served
 Worldwide
Key people
 Roy Sebag CEO
Josh Crumb CSO
John Butler Head of Wealth Services
Mahendra Naik Chair Audit Committee
Products Payment systems
Savings
Precious Metals
Revenue Increase$$80.3 million (2015)
Subsidiaries BitGold[1]
Website www.goldmoney.com

GoldMoney is a global full-reserve banking and gold-based financial services company founded by James Turk, Roy Sebag,[2] and Josh Crumb.[3] Its core businesses are BitGold and GoldMoney, which independently offer full reserve precious metal focused financial services encompassing savings, payments, wealth services, dealing, execution, custody, and research.[4] GoldMoney Inc. was formed as a holding company following the acquisition by publicly listed BitGold Corp. of the GoldMoney business in 2015. The company subsequently changed its name to GoldMoney Inc. and continues to operate both brands independently. Together, the group has over 650,000 clients and total customer assets of 1.7 billion.[5]

Corporate affairs

GoldMoney Inc has its headquarters located in Toronto Canada and in Saint Helier Jersey.[6] The company is listed on the Toronto Stock Exchange and has a market capitalization of $312 million as of February 27, 2016. GoldMoney Inc. investors and backers include Eric Sprott, Albert D. Friedberg, George Soros, Adam Fleming and Canadian Banks Canaccord Genuity.

Subsidiaries

GoldMoney

GoldMoney is a worldwide precious metal custodian and investment firm headquartered in Saint Helier, Jersey in the British Channel Islands. In 2008, the company announced a partnership with Concentric Sky to create an iPhone app to allow the transfer of digital units of gold.[7] In 2015, BitGold acquired the company for nearly $60 million keeping the business independent and choosing to adopt the GoldMoney name for the publicly listed parent company. GoldMoney operates as a precious metal custodian that allows its customers to buy, sell or hold physical allocated metal stored in high-security vaults located in five countries.[8] GoldMoney also provides its clients with wealth services, trading and execution, custody, and research on macroeconomic market trends relating to financial markets. The company was founded by former Chase Manhattan banker and commodity forecaster James Turk in 2002. Turk has stated that the company's mission was to “establish a financial institution that would recognise gold's significance as a financial asset.”[9] As of December 2015, the company has stated it looks after over 1.5 billion in customer assets.[10][11][12]

BitGold

BitGold is a self-directed gold payments and savings network based in Toronto, Canada.[13] Users of BitGold have the option to save, spend, send, receive and redeem physical gold bullion within the network.[14] The company has stated that it is a full-reserve and gold-based financial service.[15][16][17] Roy Sebag who is the founder of BitGold invented and patented a gold settlement technology named “Aurum” which is a ledger that collects and distributes real-time gold prices from bullion counterparties making it more accessible to buy physical gold at the market spot price.[18]

GoldMoney Insights

GoldMoney Insights® is a research portal available to GoldMoney clients providing objective and unbiased insights into prevailing market conditions and global macro trends affecting the world, markets, and culture. GoldMoney Insights research is led by Alasdair Macleod, Stefan Wieler, John Butler, James Turk, and Joshua Crumb.

See also

References

  1. ↑ "(Press Release) BitGold Announces Acquisition of GoldMoney". GoldMoney. Retrieved 3 July 2015.
  2. ↑ "Interview: BitGold co-founder Roy Sebag explains company's philosophy". Northern Miner. Retrieved 24 December 2015.
  3. ↑ "Who We Are". GoldMoney. Retrieved 20 December 2015.
  4. ↑ "GoldMoney Inc. Subsidiary BitGold Announces Aurum Gold-Settlement Technology Now Linked to Nine Major US Financial Institutions". Retrieved 20 December 2015.
  5. ↑ "GoldMoney Inc. Reports November Key Performance Indicators for the BitGold and GoldMoney Businesses". Retrieved 20 December 2015.
  6. ↑ "Company Profile". GoldMoney. Retrieved 20 December 2015.
  7. ↑ GoldMoney (9 March 2009). "Launch of GoldMoney iPhone Exchange Application".
  8. ↑ "GoldMoney". GoldMoney. Retrieved 19 December 2015.
  9. ↑ "James Turk: Global Money Bubble Getting Close To Bursting". Hard Asset Investor. Retrieved 17 December 2015.
  10. ↑ "BitGold Inc. Announces CAD 51.9 Million Acquisition of GoldMoney.com, Integrating over CAD 1.5 Billion in Assets and over 135,000 User Signups onto the BitGold Aurum Network". Yahoo. Retrieved 19 December 2015.
  11. ↑ "Israel’s Flourishing Fintech Has Many Fathers". Tech Crunch. Retrieved 24 December 2015.
  12. ↑ "Gold Rush 2.0: Is Gold the Missing Link in Bitcoin's Economy?". business.com. Retrieved 24 December 2015.
  13. ↑ "GoldMoney Inc. Announces the Launch of Recurring Savings and Payments Tools for the BitGold Platform". Business Wire. Retrieved 20 December 2015.
  14. ↑ "Spinning gold into dollars: how BitGold intends to become a new standard". The Guardian. Retrieved 20 December 2015.
  15. ↑ "GoldMoney Inc. Launches GoldMoney Insights™ and Multimedia Content Platform". Business Wire. Retrieved 20 December 2015.
  16. ↑ "Spinning gold into dollars: how BitGold intends to become a new standard". The Guardian. Retrieved 24 December 2015.
  17. ↑ "BitGold Connects Blockchain Platform To 9 Major US Banks". Brand New Coin. Retrieved 24 December 2015.
  18. ↑ "Aurum and Gold Pricing". BitGold. Retrieved 19 December 2015.

External links

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