The GoldMoney group launches a new digital currency-focused company in the UK. Netagio Limited (Netagio) will be offering Europe's first free 'cold' storage service for digital currencies, such as Bitcoins.
This new business is a completely separate undertaking to GoldMoney's well- established precious metals business based in Jersey. The new business benefits from the group's experience in trading and storing US$1.4billion in precious metals for its customers in secure vaults operated by specialist storage providers around the world.
Bitcoins are a peer-to-peer digital currency which can be exchanged for national currencies, and they have seen increased investment interest after the value against the pound rose exponentially in the last 12 months.
One of the biggest risks associated with Bitcoin holdings is their storage. Netagio will keep a customer's holding securely offline and protected against unauthorised access: "Utilising our thirteen years experience in the secure purchase and storage of precious metals, we wanted to make storing digital currency is just as easy and secure," said Geoff Turk, CEO, the GoldMoney group. "Netagio is the only Bitcoin wallet service in Europe to offer this type of free offline storage service, involving security best practices and strong encryption to give customers comfort and security, and all the while being backed by a reputable company who you can trust."
To start using the service, Netagio customers simply create a free account on Netagio's own website, netagio.com, verify their identity and start transferring Bitcoins in and out of the offline storage vault. Netagio will also give customers the ability to buy and sell Bitcoin, as well as other asset classes, directly through its platform in the near future.
NOTES TO EDITOR
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GoldMoney is one of the world's leading providers of physical gold, silver, platinum and palladium for retail and corporate customers. Customers can trade and store precious metal online easily and securely, 24 hours a day.
GoldMoney has offices in London, Jersey and Hong Kong. It offers its customers storage facilities in Canada, Hong Kong, Singapore, Switzerland and the UK provided by the leading non-‐bank vault operators Brink's, Via Mat, Malca-‐ Amit, G4S and Rhenus Logistics.
Historically gold has been an excellent way to preserve purchasing power over long periods of time. For example, today it takes almost the same amount of gold to buy a barrel of crude oil as it did 60 years ago which is in stark contrast to the price of oil in terms of national currencies such as the US dollar.
GoldMoney is regulated by the Jersey Financial Services Commission and complies with Jersey's anti-‐money laundering laws and regulations. GoldMoney has established industry-‐leading governance policies and procedures to protect customers' assets with independent audit reporting every 3 months by two leading audit firms.