GoldMoney has today announced the separation of its digital currency-focused arm, Netagio Limited (netagio.com) from the GoldMoney group. Netagio was launched in December 2013 by the GoldMoney group, one of the world's leading online precious metals dealers.
Chief Executive Officer, Geoff Turk said the decision to make Netagio a standalone company is down to the dynamic nature of the digital currency business: 'It is a rapidly evolving opportunity and we felt we could best take advantage of that by creating a small, nimble operation that can be focused on the unique nature of this new market, allowing GoldMoney to continue to concentrate on its established customer base and core business opportunities.
'Netagio has been infused with more than a decade of knowledge and experience from GoldMoney, which is now being applied to digital currencies such as Bitcoin. The same high standards that have been used successfully by GoldMoney to enable the purchase and storage of more than US$1.5 billion of precious metals will also be applied to digital currencies by Netagio.'
Speaking further about the reasons for the spin off, Turk continued: 'Netagio has benefitted greatly from its GoldMoney parent, but it's time for us to separate the businesses to ensure we can fully focus on their unique customer profiles. Netagio is an exciting venture in digital currencies which represent the way ahead for online transactions. GoldMoney will continue to focus on the world's oldest currencies, gold and other precious metals and the interests of its 22,000 customers worldwide.'
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 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.
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.