Spend gold like money? Glint says its debit card makes it possible
Excerpt: “Our mission is to bring a reliable gold currency to the fingertips of everyone in the world,” said Jason Cozens, founder and CEO of Glint. “We are excited to introduce Glint to the U.S. market and continue our steady growth towards democratizing gold.” By backing up users’ assets with physical gold, Glint offers multi-currency accounts, though U.S. customers will only have access to gold and dollar wallets for now. The company said the gold is stored in a Swiss Brink’s vault and insured by Lloyd’s of London. Allocated gold belongs outright to the owner, which the company said would shield users “from the destructive effects of inflation” and protect them from “the systemic risk of future global financial crises.” Glint charges a 0.5 percent fee when buying or selling gold or spending in foreign currencies. There’s no fee for making a U.S. dollar or gold purchase in the U.S. using the card. The service launched in parts of Europe last year. In addition to the U.S., the company said it will also launch in Canada, Japan and Scandinavia this year. [Interesting. I wonder how much of an initial deposit it would require? Does it function as a credit card as well? Likely not. Ron P.]
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