Goldmoney Announces Dealing and Institutional Crypto Custody Partnership with Malbex
TORONTO, June 21, 2018 (GLOBE NEWSWIRE) — Goldmoney Inc. (TSX:XAU) (“Goldmoney”) (the “Company”), a precious metal financial service and technology company, today announced a new dealing and third-party custodian relationship with Malbex Resources Inc. (TSXV:COIN) (“COIN”), a merchant banking and financial advisory company focused on investments in cryptocurrency and blockchain sector assets (soon to be renamed COIN Hodl Inc.).
Through the new partnership, Goldmoney will facilitate all purchases and sales of cryptocurrencies and Goldmoney subsidiary BlockVault Inc. (“BlockVault”) will act as a third-party qualified custodian for COIN’s crypto-asset holdings.
“Having worked with the Malbex team for over six months to achieve the proper operational structure and listing approvals, we are confident in COIN’s potential and this partnership,” said Josh Crumb, Goldmoney CSO and founder of BlockVault. “COIN is one of the world’s first crypto-asset merchant investment businesses to achieve a listing on a major exchange, and the only one that I’m aware of that will have fully-transparent, third-party insurance and auditing on their crypto-asset portfolio. Our relationship with COIN is an exciting first example of the types of markets we can open up with BlockVault’s institutional cold-storage technology, allowing institutional investors exposure to this new asset class while ensuring the private keys for their underlying assets are securely stored in safe custody and insured. We still find it incredible that anyone managing ‘other people’s money’ is willing to put client capital in exchanges, funds, corporates, or other investment structures where those holding private keys have little to no financial transparency or third-party assurance. While it’s still very early, we believe COIN has the potential to be a go-to investment for those making allocations to crypto-assets.”
“I am excited to be involved in one of the first companies listed on a major exchange that will buy and hold cryptocurrencies along with active and passive investments in other blockchain-related companies,” commented Ben Cubitt, incoming CEO of COIN. “We recently purchased our first 111 Bitcoin, 1,423 Ethereum, and 431 Bitcoin Cash through the facilities of Goldmoney and are looking forward to expanding upon these dealing and custodial relationships.”
About Goldmoney Inc.
Goldmoney Inc., a financial service company traded on the Toronto Stock Exchange (TSX:XAU), is a global leader in precious metal investment services and the world’s largest precious metals payment network. Safeguarding nearly $2 billion in assets for clients located in more than 150 countries, Goldmoney is focused on a singular mission to make precious metals-backed savings accessible to all. Powered by Goldmoney’s patented technology, the Goldmoney® Holding is an online account that enables clients to invest, earn, or spend gold, silver, platinum, palladium and cryptocurrencies that are securely stored in insured vaults in seven countries. All bullion assets are fully allocated and physically redeemable property. Goldmoney Vault Inc is a reporting entity to the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC), and is registered with the Financial Crimes Enforcement Network (FinCEN) in the U.S. For more information about Goldmoney visit goldmoney.com.
BlockVault Inc. is a wholly owned Goldmoney subsidiary that powers investable crypto-asset holdings, and a custodian that provides fully-insured and auditable third-party storage solutions for financial institutions, investment funds, family offices, crypto asset dealers, lenders, miners, and exchanges. For more information about BlockVault, visit blockvault.ch.
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