TORONTO Dec 21 The Royal Canadian Mint has
joined a blockchain platform run by Goldmoney Inc, the
first time in the world that mint-vaulted bullion has been
traded on such a private digital ledger, the Canadian fintech
company said on Wednesday.
The deal "lays the groundwork for further integrations by
other countries and other mints," Roy Sebag, Goldmoney's chief
executive officer, said in a phone interview.
Blockchain first emerged as the system underpinning digital
currency bitcoin. The technology creates a shared electronic
ledger that allows all parties to track information through a
secure network, with no need for third-party verification.
"It's no different than what gold or silver used to do, but
in digital form," Sebag said. "You're circumventing the banking
system and you're able to exchange value instantly with no
The Mint plans to extend its relationship with Goldmoney in
order to promote Canada's "leadership role in the global
precious metal industry," spokesman John Moore said.
Goldmoney says it has more than a million users in 150
countries and administers $1.7 billion in client assets.
(Reporting by Alastair Sharp; Editing by David Gregorio)