• Consumer inflation has everywhere been on the rise for the past 12 months.
• In the US and the UK it’s now at its highest since 1982.
• Glint clients have responded to the debasement of their fiat currencies by inflation by increasing their gold holdings by almost 30% since March 2021.
Glint, the global gold-based payments platform, with offices in the USA, UK and Japan, reports that it has observed a distinct correlation in the past 12 months between the rise in inflation in the US and UK and an increase in the amount of gold bought by its clients.
In March 2021, the annual inflation rate in the US was an official 2.62%, and in the UK 0.74%. The average amount of gold held in Glint accounts by clients in both countries was, in that month, more than 47 grams. Since that date the annual inflation rate in the US has risen to 7.5% and in the UK to 5.4%. In both countries the average amount of gold in client accounts has risen to more than 61 grams.
Glint makes gold easier: simpler to access, simpler to share and for the first time ever, a viable option to spend.
Jason Cozens, Founder & CEO of Glint, www.glintpay.com , says: “There can be no better proof of humanity’s confidence in one of gold’s most important characteristics – a defense against the poison of inflation – than that our clients have increased their gold holdings as inflation has taken a hold. We are living through deeply troubling, deeply uncertain times. Gold will become increasingly important as an alternative to fiat currencies; the turbulence of today merely reinforces that.
“What we’re building here at Glint is special. We are experiencing rapid but sustained growth to deliver our vision of a global, gold-based alternative to banking, payments and money, and we have both the capability and opportunity to build a significantly scalable financial eco-system, connected to, but outside of the existing banking and cryptocurrency systems”.
At a time of extraordinary monetary policy and when trust in currencies, banks and existing payment systems has been eroded, Glint helps us move to a more stable global economy. Glint is bringing reliability, independence, choice, and control to clients, by reintroducing the most universally trusted form of money, Gold.
Glint Pay Ltd. (glintpay.com) is a fintech company, based in London, Boulder (US) and Tokyo, that uses gold as an alternative global currency to enable its clients instantly to buy, sell, save, spend, and send their physical gold and other currencies, through the Glint Mastercard® and Glint App.
Glint offers no credit facilities, it allows users to transfer, receive and save real gold, which is secured in Brink’s vaults in Switzerland.
Glint is able to issue cards to clients around the world and can open accounts in over 200 countries. With more than 90,000 registered users, Glint has completed over $300million worth of transactions to date.
Glint is authorised and regulated by the UK’s Financial Conduct Authority which has given permission for Glint to issue electronic money (e-money) and provide payment services (FRN 900657).
Gold is not regulated by the FCA. However, Glint’s clients know their gold is secured in a Brinks Vault in Switzerland, insured by Brinks with Lloyds of London and their policy covers the replacement value of Glint client’s Gold as held in their vault.
The Glint card is issued in the UK by Glint Pay Services Ltd pursuant to licence by Mastercard International Inc.
Glint is a U.S.-based authorized Card Program Manager. Funds are held at Sutton Bank, Member of the Federal Deposit Insurance Corporation (FDIC), in an FDIC-insured account.
Glint Pay Inc. employs effective Anti-Money Laundering (AML), Countering the Financing of Terrorism (CFT), and fraud prevention systems and controls to mitigate and combat risks.
Whilst we strongly believe that gold is the fairest and most reliable currency on the planet, we obviously need to point out that it isn’t 100% risk free. Whilst we have seen a steady increase over time, the value of gold can fall, which means the purchasing power of the customer can also fall.
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