Fintech firm Glint Pay, which enables usage of gold as an alternative global currency, has commenced operations in the US.
The move will enable the US customers to buy, sell, save and spend physical gold through Glint App.
The offerings also include a Glint Debit Mastercard, which will enable customers to conduct the ‘gold’ transactions.
The UK-based fintech firm also selected Boulder in Colorado as its US headquarters. Currently, its US office employs six people.
Glint founder and CEO Jason Cozens said: “Our mission is to bring a reliable gold currency to the fingertips of everyone in the world.
“We are excited to introduce Glint to the US market and continue our steady growth towards democratising gold.”
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Established in 2015 in the UK, the company launched its app in Europe in February last year.
Till date, Glint app has been downloaded more than 50,000 times with more than $50m in transacted volume.
It offers instantaneous ownership of physically allocated gold and customers can use it as money through the app and Mastercard.
In the US, customers can save, exchange and spend from dollar and gold wallets. They can also send gold and currencies to anyone utilising foreign currency wallets.
There is no fee when making a gold-based or USD purchase using the Glint Debit Mastercard in the US.
However, the customers need to pay 0.5% fee when transacting gold or spending in foreign currencies.