OREANDA-NEWS. GoldMoney Inc. (TSX-V: XAU), a full-reserve and gold-based financial service and technology group, announces engineering completion and launch of three core updates to the BitGold platform:
  1. Expanded account types, enabling a private beta launch of BitGold for Businesses and BitGold Pay merchant features
  2. Personal Verified Account features, part of an upgraded account onboarding experience, enabling additional verification and transaction security - streamlining future integrations with additional payment features   
  3. Integration with Dillon Gage, expanding physical bullion redemption options to include traditional bars and sovereign coin minted products, broadening global distribution capability for redemptions, and enabling a framework for physical gold deposits at a future date  

“Our vision is a network infrastructure that facilitates instant-global value transfers from fully-backed physical assets, verified and secure, as opposed to negative yielding debt instruments,” said Josh Crumb, Chief Strategy Officer. “With today’s platform update, in addition to the BitGold partnership with Dillon Gage, we expand the ecosystem to incorporate traditional bullion products as well as business and merchant account nodes.”   

Global Partnership with Dillon Gage for Expanded Physical Bullion Integration

BitGold has formed a global partnership with Dillon Gage Inc., one of the world’s largest international wholesale precious metal trading firms. The partnership will integrate the precious metal products and fulfillment capabilities of Dillon Gage with the BitGold network infrastructure. Dillon Gage is an authorized purchaser for all major world mints, maintains inventory in over 20 countries, and operates an innovative scrap and refining division that enables efficient asset collection, refining returns and settlement.         

The launch of the partnership and phase one integration with Dillon Gage means BitGold customers can now redeem their BitGold balance in pure gold and silver small-once bars and traditional bullion coins such as Gold & Silver Canadian Maple Leafs, Gold American Eagles, Gold Austrian Philharmonics, Gold Australian Kangaroos, Gold South African Krugerrands, and the Gold Chinese Panda. Dillon Gage will also manage fulfillment of BitGold Gold Cube redemptions. BitGold is currently engineering phase two of the integration including physical scrap and deposit capabilities. 

Terry Hanlon, President of Dillon Gage Metals comments, “we’ve been serving the precious metals industry for more than 40 years, and we are excited about our role as fulfilment partner for BitGold and their innovative platform for acquiring and utilizing gold.”

 

BitGold Account Enhancements and BitGold for Business Private Beta

Today BitGold has also launched a new account-onboarding and verification experience. The new onboarding process creates expanded account types, including business accounts with merchant features, as well as a new identification-verification experience. 

In addition, BitGold has implemented a Personal Verified Account feature, enabling additional verification and transaction security on the network. The Personal Verified Account framework will facilitate more seamless integrations as new payment methods are integrated in the platform.

“We’re resolving the increasing demand from users to simplify global commerce in transacting both  B2B and B2C, and we’re building new products and expanding our global network to capture that,” said Darrell MacMullin, CEO of BitGold. “We are continuing to build upon our core strengths, expanding our gold distribution business, and investing in technology with secure, trusted compliance capabilities to connect the digital and physical world for safe transactions using gold.”

About Dillon Gage Metals

Dillon Gage Inc. of Dallas, founded in 1976 is one of the world’s largest precious metals wholesale trading firms. The firm is an authorized purchaser for all major world mints and maintains inventory in over 20 countries around the world. FizTrade Online Trading offers real-time bid/ask trading platform for gold, silver, platinum and palladium. Digital Metals delivers advanced tools and technologies that enable market participants to be more successful in their businesses. Digital Metals offers cloud-based solutions for physical precious metals marketplace built upon the Digital Metals Platform. Dillon Gage Refining, professional assayers and refiners of precious metal scrap, from low grade to karat scrap. Stone removal services and diamond experts on staff.

 

About GoldMoney

GoldMoney Inc. is a global, full-reserve and gold-based financial services group. GoldMoney provides financial services as a trusted, limited third-party, combining the unique attributes of gold with technology-driven innovation. Through GoldMoney® the company offers precious metals custody and wealth services, trading and execution, and independent research to individual investors and institutions. Through BitGold™ the company operates a self-directed savings platform and a payments network enabling individuals and businesses to make or receive online, in-store or mobile payments. GoldMoney Inc. has over 650,000 clients from over 200 countries and $1.6 billion in client assets under administration. GoldMoney is regulated by the Jersey Financial Services Commission (JFSC) as a Money Services Business. The JFSC is the main supervisory body that oversees and regulates Jersey's large financial services industry.