BitGold is a Canadian company on the TSXV exchange offering international savings and payments services which allow people and businesses to send payments and hold savings with physical gold. Its headquarters are in Toronto, Canada. They IPO'd this year at 90c and are now trading at $4 a share after rising as high as $8. They are venture funded by Soros Brothers and have $30m in cash and assets with no debt.
In an all stock deal shortly after launch they bought Goldmoney which stores over $1.5bn in physical gold for customers. This business was not technologically developed at all and Bitgold are updating with a money transfer and payments technology to leverage the existing storage business.
Essentially, you can buy or sell Gold at spot + 1% or spend it with a debit card or transfer it between people. Because Gold is used at the base currency there are no exchange fees for transfers.
As a real world example of the savings from having no fees sending EUR1500 costs CAD$2,390 with Paypal, but only CAD$2,300 through Bitgold.
Submitted December 22, 2015 at 08:25PM by Secrets7 http://ift.tt/1J3ODR9
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