The Royal Canadian Mint has announced a partnership which will allow transfers of gold bullion in its Ottawa vault via Goldmoney’s blockchain network.

The collaboration focuses on the addition of the mint’s secure precious metal storage facility in Ottawa to the Goldmoney Network and an agreement to explore future co-marketing activities.

Goldmoney personal and business users can now instantly purchase any amount of 100 per cent reserved physical gold in Ottawa vault using Goldmoney’s proprietary, closed-loop blockchain technology, for a 0.5 per cent fee and receive free storage for up to 1,000 grams.

The first of several developments to come from the collaboration, the addition of the mint’s Ottawa vault to the Goldmoney Network, provides users with a second Canadian storage option after Toronto.

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 Goldmoney’s web-based Dashboard and mobile app for iOS and Android.

John Moore, vice-president of sales at the Royal Canadian Mint, said: “We’re excited to join the Goldmoney Network and offer Goldmoney and its Network users highly-secure storage services at our vaults in Ottawa. We also look forward to working with Goldmoney on future marketing initiatives that demonstrate Canada’s leadership role in the global precious metal industry.”

Darrell MacMullin, CEO of the Goldmoney Network, added: “As a leading FinTech company globally, we’re thrilled to collaborate with one of the world’s premier minting facilities. We’re proud to add the Royal Canadian Mint to the Goldmoney Network, thereby converting mint-vaulted gold bullion into an innovative modern-day money stock while expanding our storage and physical delivery offerings.”

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