Gold-as-currency enabler Glint seeks US sprint
Golden brown finer temptress, through the stages this firm’s heading west. UK-based gold-as-currency enabler Glint is partnering with Sutton Bank and Galileo Processing to powers its US expansion plans.
Sutton Bank, a 140-year-old US community bank and a prepaid issuer, will be used for Mastercard issuing.
Galileo was founded nearly 20 years ago and provides fraud detection and regulatory compliance functionality. It will be used for its card and ACH processing.
Ben Davies, COO and co-founder of Glint, says: “With their expertise we aim to provide everyone in the US the chance to use a safe and independent money, that of gold.”
The start-up has introduced physical gold as money to spend as a currency via an account and mobile app.
It was launched in December 2017, and explains that it has exceeded its original beta target of 20,000 registered customers with a Glint card.
In addition, customers can now hold, euros and US dollars, along with gold and sterling in multi-currency wallets, all through a single Glint account.
Back in July, Glint was aiming for golden years with plans to raise £1.25 million via crowdfunding with Crowdcube.
The £1.25 million goal is part of a Series A funding to raise £15 million and seek expansion in the UK, US and Japan. Since inception, the firm has raised over £7.5 million in capital from private and institutional investors.
Glint was founded by Jason Cozens and Davies and is backed by investors in the UK, Europe, Japan, and Canada.
Key investors include NEC Capital Solutions, through its venture fund co-operated with Venture Labo Investment, and the Tokyo Commodity Exchange (TOCOM).
In more shiny happy news, Glint found success at our Paytech awards 2018, in the Best Prepaid Initiative category.
