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Category: Glint

Gold-buying app sees 718% spike in volume as coronavirus volatility drives investors to havens

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By Lina Saigol and Ryan Weeks

 

Gold-buying apps, which allow customers to buy and use the precious metal for everyday spending, are seeing record volumes as investors flock to the safe-haven commodity amid violent market swings on fears of a coronavirus-fueled global recession. British-based startup Glint Pay Services, which operates in the U.S., the U.K. and continental Europe, said it had seen a 718% increase in clients purchasing gold over the last five weeks as volatility stemming from the coronavirus pandemic swept through markets. “Sales are going through the roof,” Jason Cozens, founder and CEO of Glint told MarketWatch in a telephone interview. “We are breaking records everyday.”The average gold purchase per customer has increased in the last five weeks to £2,739 from £1,373, Cozens said.

 

Founded in 2018, Glint allows customers to buy and sell, and spend their physical gold instantly through a debit card linked to the Mastercard MA, +16.61% network and via multicurrency app.

“Customers can buy as little as 1 cent of gold to more than $1 million and use it to buy anything from a coffee to a car,” Cozens said. “Gold is the ultimate form of money.”

To date, Glint, has more than 74,000 app downloads, “tens of thousands of registered users” and more than £69 million in transacted volume. It has plans to launch the app in Asia.

The company will roll out person-to-person payments to clients within the next couple of months so that everyone can send gold in lieu of currency payment “as easily as sending a text,” Cozens said.

Gold trading volumes at Goldex are also soaring, up 125% in 2020 compared with last year, and in a month-to-month comparison to March 2019 the amount of gold buys and sells has increased by a staggering 1,600% with a week left to go in the month.

Launched in London in 2018, Goldex’s app, which is available for both iPhone and Android, links users with the world’s biggest gold peer-to-peer markets, in London, Zurich, New York, Toronto and Singapore.

“Overall we’re seeing a substantial increase in gold demand in the first three months of the year, with this month already surpassing our previous record which was set in January 2020,” Goldex told MarketWatch. “We’re also seeing a significant increase in customers, with user registrations up 35% since the beginning of the year as investors flock to safe-haven assets amid plummeting stock markets,” the company added.

According to Goldex, the price of gold in 2020 has risen by approximately 20%, moving from £1,144.42 an ounce on Jan. 1 to a high of £1,384.56 on Tuesday. That marks a seven-year high for the precious metal after another positive performance in 2019, where gold rose 20% against the U.S. dollar despite a strong year for the U.S. equity market. Since January 2019, Gold prices have increased by almost 38% overall against the pound, and approximately 25% against the U.S. dollar.

Glint’s investors include a number of financial heavyweights, including the Tokyo Commodity Exchange; Nicholas Silitch, chief risk officer of Prudential Financial; Hugh Sloane of the hedge fund Sloane Robinson; and veteran BlackRock fund manager Evy Hambro.

In 2019 Glint successfully defended itself from a hostile takeover attempt that placed the company into administration by out an-of-court appointment without a hearing. The hostile party had purchased a Glint loan that wasn’t due for repayment until January 2020 and sought to use its position as a lender to achieve its aims.

The interest and fees had already been paid. Glint achieved a solvent exit, having raised funds to repay the loan early, plus all creditor, and the administration costs. Glint is now back growing the company with the full support of its shareholders.

Revolut joined the gold app rush earlier in March when it launched a feature allowing customers with certain types of account to access gold through its app.

The U.K.-based digital bank said subscription users can purchase and trade gold, based on live market-performance data, which it obtains through its trusted gold-services partner, the London Bullion Market Association. Gold exposure can be transferred from one Revolut user to another via the Revolut app, or converted instantly into cryptocurrency or into e-money for purchases.

The fintech charges a 0.25% markup when gold is traded during market hours and a 1% markup outside of market hours.

Premiums for gold have increased worldwide – Glints rates also affected

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Such is the demand for physical gold in the current market  – the Financial Times yesterday reported that there was a “growing global shortage of gold bars” – that our gold provider has responded by increasing the spread in gold pricing.

The spread in price today has ranged from 4.1% to 5.9%. The graph below shows the buying price for gold (in green) and the selling price (in red).  This is highly unusual – typically the “spread” (the difference between the sale and purchase price) is almost the same.

The volatility in the “spread” is a direct result of the turmoil in financial makets.

Glint has therefore been forced to buy our gold at the market price available, while retaining our 0.5% fee.

Glint sees gold buying soar as markets meltdown

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Glint sees several hundred percent increase in the amount of gold clients buy over the last 5 weeks as global markets see meltdown and gold price reaches all-time high.

March 23, 2020

LONDON, UK.- Glint Pay Services Limited (“Glint”), the fintech company that makes gold an alternative global currency by enabling its clients to buy, sell, save and spend their physical gold instantly through Glint’s prepaid debit card (Mastercard)4 and multi-currency app, today announces that it has experienced a several hundred percent increase in its clients buying gold during the recent turmoil effecting global equity markets.

Glint’s clients have been the big winners as they flocked to gold, the safe haven currency of last resort, as the markets swung violently over the last few weeks on fears of a global economic downturn.

Global stock markets lost some USD 6 trillion to date, but even after a brief rally, shares around the world arguably had their worst day since the financial crisis of 2008, with the dramatic falls leading to the day being dubbed “Black Monday.” According to the Wall Street Journal [5] of 19 March 2020, the DJ Industrial Average and the S&P 500 have lost around 30% since they peaked in mid-February.

Compounding the situation is the ongoing tussle between Saudi Arabia and Russia over crude oil production levels, which has seen benchmark crude oil prices collapse to below USD 30/barrel for WTI and Brent crude.[6]

Central banks around the world have cut interest rates and governments have injected massive amounts of money into the financial system to try to prevent further declines in equities and fend off corporate bankruptcies. They are using the firepower they have to prevent what is by now a probable recession into becoming a serious depression.

Conversely the price of gold has hit some high points in both GBP and USD, trading on 19 March 2020 at USD 1,470 per ounce.

To date, Glint has more than 74,000 app downloads, tens of thousands of registered users and more than GBP 69 million in transacted volume.

Stock markets have recovered somewhat as central banks and governments have injected paper money into the financial system. However, this not a signal of ‘things returning to normal.’ Not least because it is no longer clear what that ‘normal’ might be – too many shocks are around.

In such politically and macro-economically volatile times it is natural that people search for safe havens –and gold has throughout history been seen as one of the safest. Gold has historically been a better store of value than any government created currencies, which typically erodes over time. Since 1970, the U.S. dollar has lost 86% of its purchasing power due to inflation2, whereas over the same period if you had held your wealth in gold, your purchasing power would have risen 505%1 (inflation adjusted).

In 1970, a cheeseburger would have cost you USD 0.55 cents in the US. In 2018, the same cheeseburger cost USD 3.47 due to the increase of U.S. annual average inflation, thus decreasing the value of the U.S. dollar. In 1970, a gram of gold would have bought you two cheeseburgers, whereas today a gram of gold would allow you to purchase twelve cheeseburgers. 2

“Glint’s mission to bring a reliable gold currency to the fingertips of everyone in the world is being validated as the global economy unravels,” said Jason Cozens, Founder and CEO of Glint. “Glint offers an alternative that is valued globally anytime, anywhere. Welcome to money’s new standard.”

As a fintech company, Glint is at the cutting edge of finance, enabling its customers to stay ahead of the fast-moving world of currency depreciation and exchange. “Gold has a crucial historic role as money, and we see it defining a future whereby people can take control over their own income streams and not leave them to the mercies of banks,” says Cozens. “As the world inexorably moves to being cashless, Glint provides a future-proofed solution to 24/7 globalized living.” adds Cozens.

Glint offer an innovative multi-currency payments solution that provides instantaneous ownership of physically allocated gold and the ability to use it as money digitally through an app and prepaid debit Mastercard (gold is converted into e-money for transactions).

Physically allocated gold belongs outright to its owner, as opposed to unallocated gold, “exposure to gold” such as when the gold is owned by a FinTech company (e.g. Revolut) or a capital markets instrument such as an exchanged traded fund (“ETF”). By offering access to gold Glint helps shield clients them from the destructive effects of inflation and protects them from the systemic risk of future global financial crises

Glint enables you to save, spend, and exchange between USD, EUR, GBP and gold wallets. Glint’s clients know their gold is securely held in a Brinks Vault in Switzerland. Brinks is insured with Lloyds of London.

In the next few months, Glint will launch Person to Person (P2P) payments, giving clients the ability to send gold and currencies to fellow Glint clients as easily and instantly as you might send a text message.

Fees are transparent and simple with Glint when buying or selling gold or spending in foreign currencies. There are no hidden fees and Glint uses the best available market rates with no Glint margin added, when transacting in 150 currencies around the word.

Glint has recently launched the ability for clients to experience no fees when making a gold-based purchase in their home currency of residence using the Glint pre-paid debit card (Mastercard).

You should be aware that Glint’s gold offering is not subject to regulation by the Financial Conduct Authority (“FCA”). Always speak to an independent financial adviser if you have any questions or concerns.

About Glint

Glint is a FinTech that uniquely enables physical gold to be converted into e-money for spending via a pre-paid debit card (Mastercard). Glint also offers a multi-currency account. Glint enables its clients to buy, save and exchange physical gold and other currencies.

Glint’s vision is a world where everyone has an equal opportunity to prosper, made possible by providing everyone with a reliable form of money, gold.

Glint’s clients know their gold is secured in a Brinks Vault in Switzerland. Brinks is insured with Lloyds of London. Glint issues clients with e-money, via the Glint app, upon receipt of fiat funds. All e-money issued by Glint is held in safeguarded and segregated accounts.

Already available in the UK, SEPA3 and the US, Glint is set to launch in Canada, Japan, and Scandinavia in 2020.

Gold is the world’s alternative to government-controlled fiat currencies and has been a secure and globally accepted form of payment since 4,000 BC. Glint is a tangible alternative to cryptocurrencies, because it provides ownership of physical gold and permits instant gold-based purchases. Glint interacts with the global banking system and is a form of instantaneous payment for goods and services.

About Jason Cozens (Founder & CEO of Glint)

Mr. Cozens has more than 20-years’ experience within the eCommerce technology and digital marketing sectors. Mr. Cozens is Chief Executive Officer and Founder of Glint. In this role, he is responsible for shaping the company’s strategy and overseeing the Glint technology platform. Prior to founding Glint, Mr. Cozens was the co-founder of GoldMadeSimple.com, a website he co-created in 2009 to provide customers with a fast and easy way to purchase physical gold bullion bars and coins. Before GoldMadeSimple.com, he helped to found Bite Digital Ltd., a 360° digital marketing and ecommerce development agency. Prior to that, he was the Director of Online Capital at DISC (later sold to Bartercard PLC) where he helped evolve their online group discount retail channel by increasing sales and efficiency through the introduction of technologies, marketing and integrated supply chain processes. Before that, Mr. Cozens was the Founder & CEO of Visuality Ltd., a digital agency that produced pre-build virtual reality visualisations of projects such as the Sydney Olympic and Wembley Stadiums and built and maintained the first ecommerce platforms for some of Europe’s high street retailers and manufacturers.

Media Contact
Kelly McCabe – Head of Marketing, North America – Glint
kelly.mccabe@glintpay.com

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Sources

1- World Gold Council Gold Demand trends Q1 2019: https://www.gold.org/goldhub/research/gold-demand-trends/gold-demand-trends-q1-2019/investment
2 – U.S. Inflation Calculator: Historical Interest rates: https://www.usinflationcalculator.com/inflation/historical-inflation-rates/
3 – We issue pre-paid debit card into the US and the Single Euro Payments Area which is wider than just the UK and EU.
4 – In the US Glint’s prepaid debit card is issued by Sutton Bank, member FDIC, pursuant to a license from Mastercard International Inc. Card account funds are FDIC insured up to $250,000. Terms and conditions apply. See Cardholder Agreement for details. Glint client gold is securely held in a Brinks vault in Switzerland. Brinks is insured with Lloyds of London. In the UK Glint Pay Services Limited (company No. 10117131) is authorised by the Financial Conduct Authority under the Electronic Money Regulations 2011 (FRN: 900657) for the issuing of electronic money. See Glint’s Financial Services Registration linked from our website. Glint’s clients know their gold is secured in a Brinks Vault in Switzerland and insured by Lloyds of London 100%.
5 – https://www.wsj.com/articles/the-stock-markets-trump-bump-is-about-to-be-erased-11584618522
6 – https://www.cnbc.com/2020/03/19/stock-market-today-live.html

Shay O’Brien, Glint investor and Glint card user

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Glint sat down with Shay O’Brien…

There is one obvious question to put to Shay O’Brien – why did he decide to get a Glint card and, moreover, to use it? He says that he has “a portfolio of stocks, bonds, and I like to keep 10% of the portfolio in gold. The idea behind the 10% in gold is that if there is a stock market crash – which happens every five, ten, twelve years or so – then if I need to use some cash, and normally in that scenario that is a need, then I can sell my gold rather than my stocks. In a stock market crash then typically gold will be higher, and you don’t mind selling something when it’s higher. You don’t want to have to sell something when it’s down 20% or 25%. It’s all about timing. So that’s why I like gold.”

O’Brien talks of his gold as providing “an insurance policy. I definitely prefer gold over cash over the long-term. I loved the idea [of Glint] when I heard about it, so I got the card, and I’ve been spending gold ever since.” O’Brien put a sizeable chunk of money on his card and transferred it into gold. In the 12 months he has held his card he says of his gold holding on the Glint card that “I’ve just not been able to get through it. I’ve been travelling round Europe, to America and so on, and I just kept spending it and using it, and it just keeps on going up [in gold terms]. Obviously it’s easy enough to work out why that is, because gold’s on a rally. I keep looking at the card’s gold holdings – I’m buying dinners, shopping and so on and, because gold has been going up, I just can’t spend it.”

But it’s not just the Glint card’s usefulness as a means of spending his gold that O’Brien enjoys – he also likes the fact that it is a convenient way of calculating and using other currencies. “I don’t always necessarily spend gold – sometimes I spend local currency. I can switch between local currencies at a very favourable exchange rate, and that’s very important to me as well.”

When his gold eventually runs out on his Glint card he intends to top it up again. Is he bothered about a possible fall in the price of gold? Not at all: “I just try to buy it forward. I am more of an ‘averager’ – for me it’s more of a case of ‘middling into it’ really. I don’t believe I am equipped or focused enough to be able to pick the right point, whereas if I average, I know I am going to do OK. That’s really my strategy. The global gold story – that works for me. I intentionally don’t keep any gold price, or stocks and shares, or Bitcoin prices, apps on my phone because it gets very addictive and it’s not good for the brain. You are better buying it, averaging it, and forgetting about it – then it’s there and you’ll do OK long-term. Everything looks so volatile right now but gold is much more stable.”

So how does Glint stack up against Bitcoin and other cryptocurrencies, as far as O’Brien is concerned? He tells me that “I’ve been playing around with Bitcoin for a while. Bitcoin is fun: gold is value – that’s how I see it. Bitcoin is a bit of fun, is without expectations, whereas my gold, that’s my money. It can go down, I realise that, but over the long-term my gold is my security.”

Glint Launches in the US Today

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Glint Pay Brings the Gold Currency to the U.S.

Glint Establishes Gold as Money by Launching a Gold-Based Debit Mastercard and App in the U.S., Following Successful Launch in Europe

https://www.businesswire.com/news/home/20190729005119/en/Glint-Pay-Brings-Gold-Currency-U.S.

BOULDER, Colo.–(BUSINESS WIRE)–Glint Pay Inc. (Glint), a subsidiary of the U.K.-based fintech company that makes gold an alternative global currency by enabling its clients to buy, sell, save and spend their physical gold instantly through the Glint Debit Mastercard and Glint App, today announces the launch of its products in the U.S. and the selection of Boulder, CO as its U.S. headquarters. To date, Glint has more than 50,000 app downloads, 10’s of thousands of registered users and more than USD $50 million in transacted volume.

The U.S. boasts a $7.6 trillion annual gold investment market1 in gold bars and coins that has been locked in vaults and unable to be used as money until now. Gold has historically been a better store of value than any government created currency, which typically erodes over time. Since 1970, the U.S. dollar has lost 86% of its purchasing power due to inflation2, whereas over the same period if you had held your wealth in gold, your purchasing power would have risen 505% (inflation adjusted). In 1970, a cheeseburger would have cost you $0.55 cents in the US.

In 2018, the same cheeseburger cost $3.47 due to the increase of U.S. annual average inflation, thus decreasing the value of the U.S. dollar. In 1970, a gram of gold would have bought you two cheeseburgers, whereas today a gram of gold would allow you to purchase twelve cheese burgers.

“Our mission is to bring a reliable gold currency to the fingertips of everyone in the world,” said Jason Cozens, Founder and CEO of Glint. “We are excited to introduce Glint to the U.S. market and continue our steady growth towards democratizing gold. Welcome to money’s new standard.”

As a fintech company, Glint is at the cutting edge of finance, enabling its customers to stay ahead of the fast-moving world of currency depreciation and exchange. “Gold has a crucial historic role as money, and we see it defining a future whereby people can take control over their own income streams and not leave them to the mercies of banks,” says Cozens. “As the world inexorably moves to being cashless, Glint provides the perfect future-proofed solution to 24/7 globalized living,” adds Cozens.

Glint’s U.S. office has a team of six people leading Operations, Compliance, Customer Service, Sales and Marketing. “We decided on Boulder, CO for our U.S. headquarters due to the state’s rich history in gold mining, vibrant culture and pristine natural surroundings,” said Cozens. “Boulder has also become a leading location for technology innovation, so the local talent pool will help us achieve our growth goals.”

Glint was founded in the U.K. in 2015 and launched its app in Europe in February 2018. It is the world’s first multi-currency payments solution that provides instantaneous ownership of physically allocated gold and the ability to use it as money digitally through an app and debit Mastercard. Physically allocated gold belongs outright to its owner, as opposed to unallocated gold or an ETF, which are still owned by the institutions that distribute them. Glint’s transactional gold currency offers users a more reliable form of money, shielding them from the destructive effects of inflation and protecting them from the systemic risk of future global financial crises.

At the U.S. launch, Glint will enable you to save in, exchange between and spend from dollar and gold wallets. And, in time, it will bring foreign currency wallets (already available in Europe), giving the ability to send gold and currencies to anyone with a smartphone as easily and instantly as you might send a text message, and at low to no cost, as well as paying bills. Fees are transparent and simple with a small 0.5% fee when buying or selling gold or spending in foreign currencies. There are no hidden fees, because Glint uses the real inter-bank exchange rate when spending in 150 currencies around the word. There is no fee when making a USD or gold-based purchase in the USA using the Glint Debit Mastercard.

Clay Wilkes, CEO of Galileo, which is powering Glint’s integration with Mastercard in the U.S., said, “We welcome Glint’s innovation in the U.S. market, giving consumers the choice to use gold—rather than dollars—to support everyday financial activities like buying a cup of coffee, paying bills or even getting cash from an ATM. Our robust APIs provide the flexibility for Glint to make gold-based transacting in the U.S. as simple and convenient as using a debit card. Glint identified an untapped opportunity and we’re delighted to work together to deliver a scalable solution that leverages the Mastercard payments network.”

About Jason Cozens

Mr. Cozens has more than 20-years’ experience within the eCommerce technology and digital marketing sectors. Mr. Cozens is Chief Executive Officer and Founder of Glint. In this role, he is responsible for shaping the company’s strategy and overseeing the Glint technology platform. Prior to founding Glint, Mr. Cozens was the Co-founder of GoldMadeSimple.com, a website he co-created in 2009 to provide customers with a fast and easy way to purchase physical gold bullion bars and coins. Before GoldMadeSimple.com, he helped to found Bite Digital Ltd., a 360° digital marketing and ecommerce development agency. Prior to that, he was the Director of Online Capital at DISC (later sold to Bartercard PLC) where he helped evolve their online group discount retail channel by increasing sales and efficiency through the introduction of technologies, marketing and integrated supply chain processes. Before that, Mr. Cozens was the Founder & CEO of Visuality Ltd., a digital agency that produced pre-build virtual reality visualisations of projects such as the Sydney Olympic and Wembley Stadiums and built and maintained the first eCommerce platforms for some of Europe’s high street retailers and manufacturers. Mr. Cozens received his BA in Architecture from Manchester Metropolitan University with distinction commendation in computing.

About Glint

Glint – Money’s New Standard – is a FinTech that uniquely enables physical gold to be used as money digitally, along with offering a multi-currency account and debit card. Its vision is a world where everyone has an equal opportunity to prosper, made possible by providing everyone with a reliable form of money, gold. Glint, in partnership with Mastercard, enables its clients to buy, save, exchange and spend physical gold, and other currencies, anywhere in the world Mastercard is accepted. Glint’s clients know their gold is secured in a Brinks Vault in Switzerland and insured by Lloyds of London. Gold, and all currencies purchased via Glint, are in safeguarded and segregated accounts. Already available in Europe, Glint launched in the UK in February 2018 and is set to launch in Canada, Japan, Scandinavia, and the USA in 2019.

The Company has tens of thousands of clients to date. Gold is the world’s alternative to government-controlled fiat currencies and has been a secure and globally accepted form of payment since 4,000 BC. Glint is a tangible alternative to cryptocurrencies, because it provides ownership of physical gold and permits instant gold-based purchases. Glint interacts with the global banking system and is a form of instantaneous payment for goods and services.

Websitewww.glintpay.com

Sources
World Gold Council Gold Demand trends Q1 2019: https://www.gold.org/goldhub/research/gold-demand-trends/gold-demand-trends-q1-2019/investment 
U.S. Inflation Calculator: Historical Interest rates: https://www.usinflationcalculator.com/inflation/historical-inflation-rates/

Is Trade Tension Forcing China and Investors to Generally Buy Gold?

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Over the past few weeks we have been writing about how gold should be seen as both a portfolio diversifier and portfolio insurance. China’s extended gold buying spree suggests they feel the same too. Over the past six months, the People’s Bank of China has increased its allocation to bullion, now owning 61.61 million ounces (at last count of their ‘official’ figures, it may well be higher). The rise reflects China’s potential determination to move away from dollar linked assets but also maybe the purchase of insurance as their trade war with the United States starts to hurt growth expectations. Similarly, it is evident that retail demand has also gained traction over the past few months. China is now the world’s top producer and consumer of gold (all of Chinese’s still gold remains in the country) and it is facing the prospect of a slowing domestic economy as it fights with Trump and his administration over tariffs on Chinese imports, as well as, restrictions on companies like Huawei Technologies from the US markets. Having paused its purchases of gold in 2016, data published by the People’s Bank of China shows that the country has started purchasing gold at a steady pace, once again. Other countries, most notably Russia have been continually increasing their allocation to gold in recent years.

The price of bullion has risen rapidly over the past few weeks to their highest level since April 2018. If you look across the world, all the dominant asset classes have valuation question marks against them and generally throughout history, this is when gold comes into play. With interest rates in the US falling again as the rising Eurodollar prices show and increased rhetoric looking for a weaker dollar, gold looks poised to benefit.

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While we have seen gold rise back to the crucial $1350 upside break out point over the past month from a trend ready status as demonstrated by our technical trend index tool, we have seen much less interest from a typical monitor of gold (especially retail) buying interest, the GLD shares outstanding ETF. The lagging of investor interest suggests that this up-trade may have been missed so far and that there may be a catch-up surge anytime. We believe gold may have so much more to offer in the coming months.

Protect your assets and purchasing power during this period of uncertainty by purchasing gold through the Glint.

 

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Glint Completes £5 Million Private Placement & Welcomes Sprott as Strategic Investor

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Below is the full press release that was publicly shared today. Hot off the presses!

Click here for the release on BusinessWire.

Click here to read the first article by Kitco about the news.

————————————————————————————————————————-

FOR RELEASE
LONDON, June 13, 2019

Glint Completes £5 Million Private Placement &
Welcomes Sprott as Strategic Investor

Funding Allows Glint to Embark on U.S. Expansion, Giving U.S. Clients Ability to Buy, Sell and Transact in Gold Via the Glint MasterCard and App

Glint Pay Inc (glintpay.com), the first-mover company that enables physical gold to make instant payments using a debit Mastercard, today announces the completion of a private placement of £5 Million in London-based parent Glint Pay Ltd (“Glint” or the “Company”).  The financing was led by Sprott, an alternative asset manager and a global leader in precious metal and real asset investments, with approximately $8 billion in assets under management.

Founded in the UK in 2016, Glint established the first app based account in February 2018 that gave clients in Europe a low cost way to buy, sell and save physically allocated gold and for the first time instantly spend it via the Glint Mastercard anywhere in the world Mastercard is accepted. It then added multiple currency wallets, including USD, GBP and EUR, in July 2018.  The Company is currently working on its launch into the US. The Dollar and the Pound have both lost more than 85% of their purchasing power over the last 50 years whereas gold’s purchasing power has increased by over 470%. Glint’s transactional gold currency account offers users the ultimate form of money, insulating them from the destructive effects of inflation and protecting them from the systemic risk of future global financial crisis.

Jason Cozens, Founder & CEO of Glint said: “Sprott is a leader in the gold industry and are best-in-class investment specialists for precious metals and real assets investment strategies. This financing provides the Company with the financial resources to launch in the USA and bring our gold-based debit card and personal gold standard to all U.S. consumers.” Cozens continued: “Sprott’s investment and partnership is both a validation of Glint’s platform and demonstrates gold’s important role within the 21st century’s global monetary system.”

Sprott becomes one of the Company’s most prominent shareholders, joining a number of existing investors and new High Net Worth individuals in the U.S. and Europe, who have participated in the Private Placement, to bring the total invested to £5 Million.

Peter Grosskopf, CEO of Sprott, explains the rationale for the investment in Glint: “Sprott is committed to being at the forefront of innovation in the gold market by supporting initiatives that make gold quicker, easier and more cost effective to use as a means of paying for goods and services. The Glint Mastercard and its physically-backed storage account are groundbreaking technologies and Sprott is pleased to participate in the launch of Glint.”

Download Glint today!

About Glint
Glint is a FinTech business operating a multi-currency account and debit card that uniquely enables gold to be used as money. Its vision is a world where everyone has an equal opportunity to prosper. Glint is on a mission to provide everyone with a reliable form of money. Glint, in partnership with Mastercard, enables clients to save, exchange and spend physically allocated gold, and other currencies, anywhere in the world where Mastercard is accepted. Glint’s clients know their gold is secured in a Brinks Vault in Switzerland and insured by Lloyds of London. Gold, and all currencies purchased via Glint, are in safeguarded and segregated accounts. Already available in Europe, Glint started issuing its debit card to clients in February 2018 and is set to launch in Canada, Japan, Scandinavia, and the USA in 2019. The Company has tens of thousands of clients and operates primarily through Glint Pay Ltd, Glint Pay Inc., Glint Pay UK Ltd and Glint Pay Services Ltd. Gold is the world’s alternative to government-controlled paper money and is a secure and globally accepted form of payment. Glint is a tangible alternative to cryptocurrencies, because it allows access to physical gold and permits instant gold-based purchases. Glint interacts with the global banking system and is a form of instantaneous payment for goods and services.

About Sprott
Sprott is an alternative asset manager and a global leader in precious metal and real asset investments. Through its subsidiaries in Canada, the US and Asia, the Corporation is dedicated to providing investors with best-in-class investment strategies that include Exchange Listed Products, Lending, Managed Equities and Brokerage. Sprott is based in Toronto with offices in New York, Carlsbad and Vancouver and its common shares are listed on the Toronto Stock Exchange under the symbol (TSX:SII). For more information, please visit www.sprott.com.

Download Glint today!

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JOIN US AT THE FORT LAUDERDALE INTERNATIONAL BOAT SHOW

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As part of our US launch, Glint is attending the Fort Lauderdale International Boat Show (FLIBS) with our US partners, Active Interest Media (AIM). If, like thousands of others, you plan to head to the boat show, join us at the VIP AIM pavilion from 31 October to 4 November, to find out how using gold can potentially save you millions.

SAVE, SPEND and TRAVEL with gold

Glint’s unique proprietary technology offers unparalleled ease and accessibility in buying physical gold bullion. This gold, held in a Swiss Brink’s vault, can be saved to secure monetary value or used as a global currency, anywhere in the world, via the Glint Mastercard. In addition, Glint lets you buy, save and spend in multiple currencies.

This unique proposition makes Glint the perfect solution for everyone involved in the global superyacht industry, a sector known for specific and complex foreign exchange needs, including businesses.

As one of the largest yacht shows, visitors come to Fort Lauderdale from around the world to explore the superyachts for sale and the vast range of equipment and services that support these exceptional flagships.

So whether you’re a buyer, seller, avid traveller, professional crew member or simply work in the yachting industry, a conversation with Glint about our unique gold solution could be your path to financial security.

After all, you’ve worked hard to earn your money, now it needs to work for you.

Glint can be applied to individuals and businesses alike, if you’d like to learn more about one of the fastest growing and exciting companies in the fintech space, this is a unique opportunity to meet the team in person.

We look forward to seeing you there!

Where: AIM Pavilion, Fort Lauderdale International Boat Show
When: 31 October to 4 November