SendGold, an Australian P2P Digital Cash or Gold as a Service Platform Stories Over 800% Improve in Transactions, After COVID-19 Outbreak

Fintech agency SendGold, which describes itself as a Gold-as-a-Service (GaaS) platform, stories an 819% improve in transaction quantity and a 311% development in transaction dimension since January 2020.

Established in 2016, SendGold is a peer to look (P2P) digital cash platform targeted on serving the Asia-Pacific (APAC) area.

The SendGold workforce notes:

“We give our clients the facility to construct and switch their wealth, exterior of the banks, throughout borders and throughout generations. Prospects can save, ship and present gold, and money out any time.”

SendGold options an Open API bodily gold platform that goals to “disrupt” the worldwide, multi-trillion-dollar gold market. The corporate is concentrated on “extending gold” into rewards, cell gaming, DIY private wealth, and a number of other different initiatives.

As famous in an replace shared with Crowdfund Insider, SendGold has managed to win India’s ninth quickest rising tech agency, Xoxoday, as a brand new buyer.

As talked about within the replace:

“The partnership will give Xoxoday’s 1,000+ company clients, and tens of millions of their members throughout 70 international locations, the flexibility to alternate their reward factors for fully-owned gold bullion by way of SendGold’s P2P gold funding app.”

The SendGold workforce has recognized a number of different high-potential development markets for GaaS together with on-line gifting ($45 billion), Chinese language New 12 months gifting ($130 billion), gaming ($135 billion), and international digital remittances ($720 billion).

Based mostly in Sydney, Australia, SendGold is an early-stage Fintech agency that was reportedly established by a workforce of skilled entrepreneurs, technologists and scientists from Microsoft, McKinsey, JP Morgan and PricewaterhouseCoopers (PwC).

The SendGold workforce claims to have prior expertise working within the funds, international alternate, monetary danger administration, prudential regulation, blockchain, digital advertising and enterprise development sectors.

Like many different firms creating merchandise involving the gold bullion, SendGold goals to benefit from the valuable metallic’s potential to function a dependable retailer of wealth. Gold has reached new highs throughout the COVID-19 outbreak, and has been one of many best-performing property throughout occasions of financial uncertainty.

The SendGold workforce notes:

“In a world of document low rates of interest, document debt ranges and rising [wealth inequality,] SendGold got down to construct a digital cash platform that [aims to be] hyper-liquid, hyper-accessible, and primarily based on one of many world’s best-known and most dependable shops of wealth.”

SendGold goals to function a P2P digital cash platform that claims to be “hyper-liquid and hyper-accessible.”

The SendGold workforce claims that their merchandise are “safe, 100% compliant, and in-market, with international utility.” The platform goals to deal with the demand for gold and easy funding throughout Asia, and focuses on millennials primarily based within the APAC area and the rising Asian center class.