Toronto-based BitGold is off to the races posting astronomical growth in the second quarter, doubling its number of users in one month. As of June 30th there were 62,629 users. The Company, which offers digital payments and secure savings, doubled also doubled its gold vault value between June 5 and June 30 to C$2,993, 400.
Bitgold deposits, redemptions and payments on the network between June 5 and June 30 hit C$3,479,889.
Also this week BitGold has ankled Darrell MacMullin as Senior Vice President and Chief Operating Officer. Darrell was previously the Managing Director and Head of PayPal Canada.
Post-closing of the previously announced acquisition of GoldMoney.com, BitGold Inc will be renamed GoldMoney Group Inc and will become parent company of the BitGold payment and savings platform.
Post-reorganization Darrell will become the CEO of BitGold, focusing on the growth of an end-to-end international payment platform using gold for real-time settlement of cross-border and cross-currency e-commerce.
BitGold’s mission is to make gold accessible and useful in digital payments and secure savings. The BitGold platform provides innovative solutions to the challenge of transacting with fully allocated and securely vaulted gold. BitGold accounts are free and convenient to open by virtually anyone, anywhere* in just minutes. BitGold provides users with a secure vault account to purchase gold using a variety of electronic payment methods.
The platform will also provide transaction capability including: instant cross-border gold payments, merchant invoicing and processing for gold, prepaid card spending of gold at traditional points of sale, conversions to a customer’s external digital-wallet or bank, and physical gold redemptions. All physical gold acquired through the platform is owned by the customer, stored in vaults administered by The Brink’s Company, acting through Brink’s Global Vault Services International, Inc. (“Brink’s”), which insures gold through third party insurance providers.
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