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Goldmoney (TSX:XAU) formally exits cryptocurrency business

Tony Zerucha

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Goldmoney (TSX:XAU) has decided to exit the cryptocurrency business. They will work with its customers who store their cryptocurrency with it to minimize any inconvenience this decision may cause.

As of March 6, cryptocurrency purchases are no longer available. Customers who store cryptocurrency with Goldmoney will be able to liquidate their position or request that their cryptocurrency be delivered to their wallet.

Customers may liquidate their position or take delivery up until May 6, 2019. On that date, Goldmoney will sell any remaining cryptocurrency positions and place the proceeds from the sale in the customer’s holding, after which all cryptocurrency related activity on the Goldmoney.com platform will cease.

“The Goldmoney board of directors made this decision following a review of several factors,” the company said in a release. “By exiting this business line, Goldmoney will maintain its focus on new growth initiatives within the precious metal industry.”

The material is not to be construed as an offer or a recommendation to buy or sell a security. See full Terms of Service.

Tony Zerucha

Tony Zerucha is an alternative finance journalist with more than seven years experience in the space. The author of more than 1,000 articles, Tony was named LendIt's 2018 Journalist of the Year.

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