GoldMoney, a full-reserve and gold-based financial service and technology group, has introduced gold balance funded prepaid card through its wholly owned BitGold platform.
The GoldMoney prepaid card is free to request and can be used by qualified users on the platform having a one gram or more settled gold balance and a valid ID and utility bill.
Plans are also on to make the card program accessible to GoldMoney platform customers in the future.
The new program is intended at offering platform clients a payment method that is accepted by over 35 million merchants across the globe, and will offer access and payment utility to fully-reserved and gold-based savings.
GoldMoney CEO Roy Sebag said: "Gold is the world’s best performing money for savings when measured objectively against global currencies over the average human savings cycle, and now we are making it accessible and useful through today’s payment technologies.
"With the launch of this prepaid card we now embark on the second phase of our platform evolution into payments thereby increasing the utility of our network.
"We also unveil an important second business line that will generate recurring revenue and contribute to increased velocity, allowing us to match internal liquidity and earn transaction spreads devoid of processing costs."