Goldmoney accelerates instant settlement of direct-to-bank gold redemptions


Goldmoney Inc. (TSX:XAU), a Toronto based financial technology company operating a global, 100%-reserved gold-based financial network, today introduced a new closed-loop network integration that enables instant gold redemption and expedites direct-to-bank value settlement for 87 countries and 44 currencies, accelerating global commercial transactions and supporting small business growth.

Goldmoney Personal and Business users can now redeem gold balances to supported local currencies instantly and receive value settlement denominated in local currencies within 48 hours for a fee of only one percent.

“We’re continuously strengthening our partnerships and improving the functionality of the Goldmoney network making it one of the most efficient methods for global transactions. With this new integration, we’re making personal and business global gold payments and redemptions faster and easier than ever before,” said Darrell MacMullin, CEO, Goldmoney Personal and Business.

“International wire transfers can take up to one week, imposing unnecessary delays on person-to-person transfers, impeding cash flow and delaying small business growth. By using vaulted gold bullion for universal and efficient payments, Goldmoney Personal and Goldmoney Business users in eligible countries can instantly receive payments in gold and redeem to supported currencies at any time. Direct-to-bank settlements of redeemed value are completed in under 48 hours—and in some cases, within minutes.”

5 Year Futures Price Quote for Gold (COMEX)
5 Year Futures Price Quote for Gold (COMEX) to USD


Direct-to-Bank Redemption Availability and Associated Settlement Times

CountryPersonalBusiness1Settlement TimeSupported Currency
AntiguaSame DayXCD
ArgentinaNext DayARS
AustriaNext DayEUR
BangladeshSame DayBDT
BarbadosSame DayBBD
BelgiumNext DayEUR
BeninNext DayCFA
BoliviaSame DayUSD
BrazilSame DayBRL
BulgariaNext DayBGN
Burkina FasoNext DayCFA
CanadaNext DayCAD
ChileNext DayCLP
ChinaNext DayUSD
ColombiaWithin Minutes to HoursCOP
Costa RicaSame DayCRC
CyprusNext DayEUR
Czech RepublicNext DayEUR
DenmarkNext DayEUR
Dominican Rep.Within Minutes to HoursDOP
EcuadorWithin Minutes to HoursUSD
EgyptSame DayEGP
El SalvadorWithin Minutes to HoursUSD
EstoniaNext DayEUR
EthiopiaSame DayETB
FinlandNext DayEUR
FranceNext DayEUR
French GuianaNext DayEUR
GambiaSame DayGMD
GermanyNext DayEUR
GhanaSame DayGHS
GreeceNext DayEUR
GuadeloupeNext DayEUR
GuatemalaWithin Minutes to HoursGTQ
GuineaWithin Minutes to HoursGMT
Guinea BissauNext DayXOF
GuyanaSame DayGYD
HaitiSame DayUSD
HungaryNext DayEUR
IcelandNext DayEUR
IndiaWithin Minutes to HoursINR
IndonesiaSame DayIDR
IrelandNext DayEUR
ItalyNext DayEUR
Ivory CoastNext DayXOF
JamaicaSame DayJMD
JapanSame DayJPY
KenyaSame DayKES
LatviaNext DayEUR
LiechtensteinNext DayEUR
LithuaniaNext DayEUR
LuxembourgNext DayEUR
MalaysiaSame DayMYR
MaliSame DayCFA
MaltaNext DayEUR
MartiniqueNext DayEUR
MexicoWithin Minutes to HoursMXN
MoroccoSame DayMAD
NepalWithin Minutes to HoursNPR
NetherlandsNext DayEUR
NigerNext DayXOF
NigeriaWithin Minutes to HoursNGN
NorwayNext DayEUR
PakistanWithin Minutes to HoursPKR
PanamaSame DayUSD
PeruWithin Minutes to HoursPEN
PhilippinesWithin Minutes to HoursPHP
PolandNext DayPLN
PortugalNext DayEUR
ReunionNext DayEUR
RomaniaSame DayRON
RussiaWithin Minutes to HoursRUB
SenegalNext DayCFA
SlovakiaNext DayEUR
SloveniaNext DayEUR
SpainNext DayEUR
Sri LankaSame DayLKR
St Kitts & NevisSame DayXCD
SwedenNext DayEUR
ThailandSame DayTHB
TogoNext DayCFA
Trinidad & TobagoSame DayTTD
UkraineSame DayUSD
United KingdomNext DayGBP
UsaNext DayUSD
VenezuelaSame DayVEF
VietnamSame DayVND

1Only Goldmoney Business account holders may redeem to a business bank account.

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Goldmoney accelerates instant settlement of direct-to-bank gold redemptions

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