You are here
Glint Pay, gold payment start-up, is rescued by investors
By Daniel Thomas
Financial Times, London
Thursday, November 21, 2019
A UK start-up that lets customers buy and use gold for everyday spending has been saved from administration by its management and investors.
Glint Pay, which is backed by Conservative MP Steve Baker and operates in the UK and the US, allows customers to buy, sell, save, and spend gold through a Mastercard-linked debit card and app. It claims it is the first to offer direct and instant access to the spending power of gold but collapsed into administration in September after its board was unable to immediately secure funding to repay an outstanding loan.
... Dispatch continues below ...
Transfer Assets and Own Gold and Silver Coins
and Bars in the Safest Way
GoldCore's mission statement since 2003 has been to protect and grow the wealth of our clients, and given growing monetary, cyber, and systemic risks, it is increasingly important to take delivery or have legal title and outright ownership of fully segregated coins and bars.
On all investment and pension purchases and gold and/or silver coin and bars transfers (from banks, ETFs, and digital gold providers) worth more than $10,000 stored in GoldCore Secure Storage in Zurich, Switzerland, we are now offering Secure Storage for free for six months and the gift of a silver bullion coin -- a beautiful, legal tender, 1-ounce Silver Eagle.
GoldCore does not report transactions to any authority, and safety, privacy, and confidentiality are paramount when we are entrusted with safekeeping of our clients' precious metals.
Please visit GoldCore here for more information about this offer:
https://info.goldcore.com/zurich-gold-silver-storage-goldcore-exclusive-...
Key information regarding GoldCore Secure Storage, our partner vaults and jurisdictions, and storage rates is here:
For further information, please email the GoldCore team at info@goldcore.com or call our trading desk:
U.S.: +1-302-635-1160
U.K.: +44(0)203-086-9200
International: +353(0)1-632-5010
This week the UK financial regulator gave permission for it to start trading again after it raised the L5.7 million it needed to exit the UK administration process. On Thursday the process of unfreezing customer accounts began.
The US business was unaffected by the administration.
Glint said all customers' funds, whether in gold or cash, had been secure throughout the process. The gold is kept in a vault in Switzerland and customer money is either in segregated bank accounts or stored as physical gold.
The company's management, headed by founder and chief executive Jason Cozens, said existing and new shareholders had backed the company with new financing.
He said there had never been any problems with the operations or financial stability of the group, blaming the administration on a claim made by a creditor, which had always been disputed by Glint.
Glint repaid the loan and additional fees at the start of October. ...
... For the remainder of the report:
https://www.ft.com/content/7ca15846-0c73-11ea-bb52-34c8d9dc6d84?desktop=...
* * *
Help keep GATA going:
GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at:
To contribute to GATA, please visit:
