paddy10tellys Bronze ✭✭✭
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@GoldIsCurrency some questions: Who is the professional vaulting partner you refer to? Are the deposits insured? Who does the audits?
Compare & contrast your service to say - using a Trezor ... so little folk (me) understand your offer ...
Also - no use owning gold that can't be redeemed in a crisis.
As I understand it @Midas65 - all physical redemptions come from a US vault, via Schiff. If a crisis happens & Uncle Sam says gold just don't gonna move from the USofA then it doesn't matter which vault has it. Your choice is redeem to fiat, redeem to fiat, or ...don't redeem???
@greenuser I think GM are actually more interested in servicing the institutional crypto market - ETF's based on futures contracts, or other derivatives. Such companies are not allowed to hold customers BTC themselves & will need somewhere to keep it. That's where GM steps in (first in this new space).
ETF applications this week: REX Bitcoin strategy ETF; REX short Bitcoin strategy ETF; VanEck Vectors Bitcoin strategy. GM wants their business...
Expect GM share price to rise shortly after they get it, assuming they do...
GM will be absolutely paranoid about KYC/AML because they need to be if this business model is going to fly. Don't take it personally, but you are low on their list of priorities.