BitGold has completed the acquisition of GoldMoney, acquiring the intellectual property and operating subsidiaries in exchange for the issuance of 11,169,794 Common Shares in the capital of BitGold.
As part of the acquisition agreement, three GoldMoney directors, Mahendra Naik, James Turk and Hector Fleming will join the BitGold board. GoldMoney will retain its head office in Jersey.
“We are pleased to complete the GoldMoney acquisition and further reveal our plans to build a global, cross-segment financial service platform,” said BitGold CEO, Roy Sebag. “By combining the unique attributes of gold with the real time connectivity of the smartphone revolution, we’re able to build a global network for savings and transactions that substantially removes credit and settlement risk for both savers and merchants.”