UK’s Royal Mint Reveals Record Profits Amid Significant Demand for Physical G...
While the price of gold has dropped in value from the asset’s all-time high on March 8, the U.K.’s oldest precious metals (PMs) company, the Royal Mint, saw record profits over the last 12 months. In fact, the Royal Mint’s annual earnings show the firm has seen the highest profits in 12 years, with PMs accounting for roughly 86.7% of the Royal Mint’s revenue. Royal Mint Prints Record Profits During Last 12 Months Precious metals demand has skyrocketed, according to the recent annual profits accrued by the Royal Mint over the last 12 months. The official coinage supplier of the United....
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The Royal Mint, owned by Her Majesty’s Treasury, will soon begin a “digitized gold offering” made possible by blockchain technology, bitcoin’s underlying innovation. Announced today, The Royal Mint revealed its partnership with CME Group, a derivatives marketplace to develop the digital gold product called Royal Mint Gold (RMG). For a 100-year-old institution, the announcement represents a significant endorsement of the technology. “RMG will change the way traders and investors trade, execute and settle gold,” The Royal Mint stated. Initially, up to $ 1 billion worth of gold in RMG will be....
The Royal Mint, the body responsible for producing physical coins for circulation in the United Kingdom, and derivatives exchange CME Group have announced the launch of Royal Mint Gold (RMG), a digitized gold offering to be recorded on Blockchain technology. Launching in 2017, RMG will offer a digital record of ownership of up to £1 bln worth of gold held at The Royal Mint’s bullion vault. The aim is to provide an easier and more affordable way to hold the precious metal rather than spot trading, with the added bonus of cryptographic security. David Janczewski, director of new business at....
News of the recent collaboration between Britain's Royal Mint and Chicago-based derivatives exchange CME Group has renewed conversations regarding the intersection between blockchain technology and gold assets. This relationship has led to the creation of an innovative and cost-effective approach to the trading, executing and settling of gold transactions worldwide. Scheduled to launch in 2017, Royal Mint Gold (RMG), as it is known, will provide an alternative to the physical spot-cost model of gold investing that levies management fees and ongoing storage charges. Once fully operational,....
Futures trader of the CME Group is teaming up with BitGo and Alphapoint to develop a Blockchain gold solution for the UK’s Royal Mint. Royal Mint Gold (RMG), a development of which is already in progress, aims to “provide a fast, cost-effective and cryptographically secure method of buying, holding and trading spot gold.” “An RMG is a digital representation of real gold sitting in the Royal Mint vaults,” Sandra Ro, head of digitization at CME Group, said in a release. “When you purchase RMGs you will effectively have real gold that is allocated from a direct ownership standpoint that is....
One of the UK’s oldest bullion producers and the entity that strikes British coins, the Royal Mint has just announced a gold-backed blockchain effort. In partnership with one of the world’s largest options and futures firm CME Group, the two companies aim to release its blockchain project in 2017. 1,000 Year Old Royal Mint to Create Blockchain-Based Gold....