August 1, 2019, Boulder, CO – Glint Pay Inc. (Glint), weighs in on the news regarding the US Fed’s interest rate cut.
“The Fed’s decision to cut its benchmark interest rate by 25 basis points, to 2.25% – the first cut it’s made since December 2008, when the Great Recession was getting going – is a clear sign that US interest rates are going to stay way below their pre-crisis levels of 4% to 5%, for years to come. And that in turn is one of the clearest signs that we are facing a significant gold bull run, also for years to come,” said Jason Cozens, CEO of Glint, which launched its debit Mastercard in the USA this week. Cozens added that “there obviously will be ups and downs for the gold price in the coming months, as speculative investors choose to take profits. But the combination of an inevitably weaker US dollar and considerable geopolitical uncertainty mean that the price trend is firmly up.”
The Federal Open Market Committee since the end of 2015 made nine increases to the federal funds rate. President Donald Trump has pressed the Federal Reserve to make a rate cut and said this week that he would “like to see a large cut and I would like to see immediately the quantitative tightening stop.”
Glint 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 – 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 U.K. 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.
For media and other enquiries please contact:
Head of Marketing, North America – Glint
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