Glint reintroduces gold as money

Wednesday 07th March 2018 05:35 EST

Glint, a UK-based startup, is making money fairer, providing, for the first time, the ability to store, exchange, send and spend gold through the global electronic payment system. It has launched the first global currency, account and app based technology, which reintroduces gold as money.

In a world of low interest rates, it make sense to save for future events –eg deposit for a house (bank rates are derisory and 'value of money in the bank’ will be eroded by creeping inflation). Glint’s platform makes gold instantly accessible as a global currency with unprecedented liquidity and will be available to anyone to store, send peer to peer, and spend anywhere in the world.

Glint’s iOS app is linked to the Mastercard global payment system and will allow its users to make day to day payments by debit card with multicurrency capabilities including for the first time gold. Pricing is based on interbank exchange rates and no hidden charges.

Glint is authorised and regulated by the UK’s FCA with clients’ money stored in segregated bank accounts. Physical gold holdings are legally allocated to each individual client and held in a London Bullion Market Association Accredited Brink’s bank vault in Switzerland.

The Glint app is available on iOS (hyperlink) in the App Store for download and registration. Once your account has been approved you can use to start buying gold and your Glint card will be with you within 5 working days.

Following its UK launch, Glint will roll out in targeted European territories through 2018 and into Asia. Glint was founded by Jason Cozens and Ben Davies and is backed by investors in the UK, Europe, Canada. Key investors include, NEC Capital Solutions through its venture fund co-operated with Venture Labo Investment, and the Tokyo Commodity Exchange (“TOCOM”). NEC Capital Solutions is the affiliated company of NEC Corporation, a leader in the integration of IT and network technologies. TOCOM is Japan’s largest and one of Asia’s most prominent commodity exchanges.

Jason Cozens, CEO, Glint, said: “Glint’s ability to use gold as money as part of the global payments system is a landmark event. Everyone is familiar with gold as one of society’s oldest means of exchange, its universal acceptance, its reliability, its history as a store of wealth and as a means of underpinning the value of “paper” currencies. Unlike “paper” currencies gold can’t be wiped out, devalued or corrupted.”

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