OREANDA-NEWS. Goldmoney today unveiled an exclusive gold vault that allows PayPal account holders in Europe and the U.K. to instantly purchase and redeem any amount of physical 100% allocated gold via the Goldmoney Network. Goldmoney Personal and Business users can now directly link their PayPal account through a one-time secure single sign-on and verification process.

We teamed up with PayPal to advance innovation in the fintech space by enabling PayPal users to instantly purchase and store physical gold directly in a vault secured and insured by Brink’s for the first time. Through the Goldmoney Network, users can instantly redeem their gold balance back to their PayPal account in EUR and GBP (or take physical delivery) via Goldmoney’s web-based Dashboard and mobile apps for iOS and Android devices.

“Integrated into the Goldmoney Network with PayPal’s v.zero Braintree API stack, the exclusive vault provides unprecedented access to gold for hundreds of thousands of Europe and U.K.–based Goldmoney users,” said Darrell MacMullin, CEO, Goldmoney Personal & Business Network. “PayPal is one of the most popular and secure ways for people to transact online, and this partnership provides personal PayPal account holders with the ability to seamlessly purchase gold and quickly establish daily, weekly, or monthly recurring savings plans on the Goldmoney Network, and instantly redeem their gold balance to a payment method accepted by millions of merchants worldwide. PayPal merchants will be able to quickly protect their earnings and settle their sales from EUR and GBP directly into gold, and instantly redeem their gold balance back to their PayPal account when necessary.”

On average, Goldmoney Personal and Business users in Europe and the U.K. deposit more than $400 EUR and redeem more than $700 EUR per transaction.

“With a steadily increasing gold deposit volume of more than 400 kg – equivalent to more than $15.6 million EUR – between Goldmoney Personal and Business users, Europe and the U.K. are the fastest-growing markets for our company,” said Josh Crumb, co-founder and Chief Strategy Officer of Goldmoney Inc. “Owning gold has always been one of best ways to protect one’s earnings and long-term savings. Given the volatility of GBP and EUR in the past year, the new PayPal vault strategically advances the utility of the Goldmoney Network for our Europe and U.K. users while simultaneously providing them with a new way to build gold-based savings and safeguard their wealth.”