Royal Canadian Mint joins Goldmoney blockchain platform

Royal Canadian Mint joins Goldmoney blockchain platform

The Royal Canadian Mint is to allow transfers of gold bullion value stored in its vaults over a blockchain network run by Goldmoney Inc.

Goldmoney users can now purchase any amount of 100% reserved physical gold in the Mint’s Ottawa vault using the private firm's proprietary, closed-loop blockchain technology, for a 0.50% fee and receive free storage for up to 1,000 grams.

Network users can also send gold title to anyone for free via text message or email, redeem their gold balance to a Goldmoney Mastercard Prepaid card or bank account in local currency, or make vault-to-vault gold transfers between the Mint and seven Brink’s vault locations located around the world via a web-based Dashboard and mobile app for iOS and Android.

Goldmoney and the Mint have also entered into an agreement to explore future educational co-marketing activities focused on boosting awareness and accessibility of precious metals.

John Moore, vice-president, sales at the Royal Canadian Mint, says: “We look forward to working with Goldmoney on future marketing initiatives that demonstrate Canada’s leadership role in the global precious metal industry.”

Last month, the Royal Mint in the UK announced a partnership with CME Group to create a digital gold product that will be stored and recorded on a blockchain.

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