Vaultoro Reaches $1,000,000 USD Milestone in Gold Trading Volume by Extending Banking Options to the Unbanked
Vaultoro, the real-time Bitcoin gold exchange, is pleased to announce that it has reached a significant $1,000,000 USD milestone in gold trading volume.
The milestone comes at a time when the company’s trading growth is increasing at an average rate of 91% per month, while user acquisition is growing by an average of 29% per month.
Vaultoro is seeing this growth all around the world, especially in developing countries where people are often unbanked or underbanked.
“The developing world skipped the land line and went direct to mobile phones,” says Vaultoro’s CEO and co-founder Joshua Scigala.
“They are now doing the same with traditional branch banking because it’s just too uneconomical to set up. Vaultoro enables anyone to easily enter the global economy securely and privately by utilising the native internet currency bitcoin and removing the extreme volatility by combining the security of assigned gold bullion. This will go a long way towards ending poverty by including a potential 5 billion people who have been left behind by traditional banking.”
In support of its mission to expand its global reach, Vaultoro launched its BnkToTheFuture online investment campaign and is about 40% of the way toward its first milestone.
The target of the investment campaign is to raise $780,000 USD in exchange for 25% total of Vaultoro’s shares. This is equity crowdfunding, enabling anyone to fund the project but also to profit from its success. The company has plans to provide services in several different languages and develop a phone app that will give people instant access to private and secure assets.
Vaultoro is a real-time Bitcoin gold exchange that allows its users to convert their Bitcoins instantly to gold and back alleviating volatility risk for Bitcoin users. Vaultoro’s “bank independent trading” allows users to trade gold confidently, in amounts as small as 0.001 gram. Users’ assets are insured and stored safely in top-tier vaults located in Switzerland. Vaultoro provides users the ability to verify their gold holdings via proof of reserves and proof of audit using third-party providers.
In March 2015, Vaultoro took steps to maximize its transparency when it announced its integration with Factom, allowing it to provide customers with proofs of their reserves and user transactions. In partnership with Shapeshift.io, the company also allows users to exchange a variety of cryptocurrencies for gold and instantly spend it anywhere around the world, all without a traditional bank account