GoldMoney, the parent company of gold-based FinTech platform BitGold, has been listed on the Toronto Stock Exchange.
BitGold is a gold-based payments and savings platform that allows users to acquire, store, and spend gold that is stored in a secure vault. The value of BitGold is that gold is considered the most stable currency, so people that invest money in gold can protect their earnings. For example, a Canadian travelling to the US that wanted to convert their gold to US dollars wouldn’t be affected by the exchange rate, and could get more for their money. BitGold, which launched in May 2015, recently surpassed 850,000 users.
“This is another significant achievement for the Company and our shareholders. Graduation to the TSX less than one year after our initial listing on the TSX Venture Exchange reflects our rapid growth and maturation,” said Roy Sebag, president and CEO of GoldMoney. “It is a recognition of the strength and quality of our BitGold and GoldMoney products, as well as our commitment to a strong balance sheet, superior oversight and transparency, and a long-term approach to maximizing shareholder value by investing in our mission.”
As it moves into the TSX, the company also appointed Leslie D. Biddle to the board of directors. Biddle is currently a partner and president at New York-based value investment firm Serengeti Asset Management, and has spent 10 years in Goldman Sachs, where she acted as managing Director in 2004 and partner in 2006.