Heliad AG
FinLab AG: FinLab holding Vaultoro launches Bar9, a new gold-based online savings account
Frankfurt/London/Berlin, March 2, 2018 – The Crypto start-up Vaultoro, a portfolio company of FinLab AG (ISIN: DE0001218063; Ticker: A7A.GR), announces the launch of its second product: the online gold savings account Bar9.
Using Bar9, customers can immediately invest their money in physical gold and thereby protect it against inflation and currency fluctuations – starting from just one euro. The savings account works in both ways: customers can store their savings balance as gold, but can also turn their gold into money and make withdrawals in euros – just like a normal bank account, but without any involvement from the bank. The bars of 99.99% fine gold are stored in a Swiss vault. Should they wish, the gold can be sent to customers at any time. In a short while, the Bar9 app shall also be ready, the first gold-based debit card be made available and the platform extended to include other precious metals, such as silver and palladium, as well as cryptocurrencies, including Bitcoin. In September 2017, Vaultoro received a seven-figure sum from the listed company FinLab AG, one of the largest company builders and investors in the fintech and crypto sectors to invest in the expansion of its product range. The start-up has already been operating in the market as a real-time trading platform for gold and bitcoin since 2015. With its new product, Bar 9 is now covering another financial area. “With Bar9 we are another step closer to realizing our vision of establishing a fair and global financial system for everyone. Gold is one of the most stable currencies in the world and is considered a safe method to preserve value across cultures. Those who want to invest their money wisely, without needing to invest equally large sums in the process, will find the perfect solution in Bar9,” explains Joshua Scigala, Vaultoro’s CEO and Co-founder. Bar9’s gold partner is Pro Aurum, one of the largest dealers of precious metals in Europe. Pro Aurum stores the bars of 99.99 percent fine gold in a vault facility in Switzerland. The purity is audited by BDO International, one of the largest audit companies in the world. Unlike traditional banking, Vaultoro has opted for a transparent protocol using blockchain technology. The “Glass Books Protocol” guarantees absolute transparency of your own deposits and shows that Vaultoro is not using its users’ property for speculative purposes. End of Media Release Issuer: FinLab AG Key word(s): Enterprise
02.03.2018 Dissemination of a Press Release, transmitted by DGAP – a service of EQS Group AG. |
Language: | English |
Company: | FinLab AG |
Grüneburgweg 18 | |
60322 Frankfurt/Main | |
Germany | |
Phone: | +49 (0)69 719 12 80 – 0 |
Fax: | +49 (0)69 719 12 80 – 011 |
E-mail: | investore-relations@finlab.de |
Internet: | www.finlab.de |
ISIN: | DE0001218063 |
WKN: | 121806 |
Listed: | Regulated Unofficial Market in Berlin, Dusseldorf, Frankfurt (Scale), Stuttgart, Tradegate Exchange |
End of News | DGAP Media |