Cointree and Rush Gold partner to bring world first Gold-as-a-Service APIs to its platform
Australian cryptocurrency exchange, Cointree, has partnered with award-winning Rush Gold to bring world first Gold-as-a-Service APIs to its platform, allowing investors to own gold bullion in their cryptocurrency wallets in a world-first initiative.
Powered by Rush Gold’s innovative world-first APIs, the service will enable Cointree’s customers to buy and sell gold bullion directly through the Cointree trading platform and hold it in their multi-coin wallet, just as they would any of the 280+ cryptocurrencies currently on offer.
Cointree COO, Jess Renden said this is a huge move for Cointree’s offering, but also to further its ongoing mission to deepen the Australian investment markets financial literacy and knowledge.
“We are thrilled to start the new year by bringing a new technology to Australian investors. By offering a service to purchase gold directly through the platform, we are able to assist our investor membership, who are primarily young, retail investors, in better understanding how to diversify their investments and hedge against market risk,” said Ms Renden.
“With many cryptocurrencies seeing a correction over the last few months and some of the volatility in crypto markets smoothing, investors are now seeking ways to secure their gains for the long term and strengthen their portfolio to hedge against the potential of inflation.
“We are always looking at ways to innovate and broaden our offering to members, and provide solutions to their changing needs, and this offering meets that,” said Ms Renden.
Rush Gold’s new APIs greatly simplify the process for purchasing gold bulletin directly and enable investors to better manage their physical assets on a centralised platform. Compared to CFDs or ETFs, the new product offering uniquely gives investors direct title to gold bullion, adding the level of control that many crypto investors are accustomed to.
Rush Gold CEO, Jodi Stanton said, “Gold has a long track record of preserving capital and hedging against inflation, which is why so many savvy investors include an allocation of gold in their portfolio. Cointree is a market leading exchange for digital currencies in Australia, so when looking to offer our technology through an exchange, Cointree was an obvious first choice.”
“Rush Gold’s APIs allow apps and platforms to fully integrate with real-time gold pricing, transactions and reporting. They align well with the structure and layout of the Cointree platform and we share the same vision on how directly owned assets like gold and cryptocurrency will be used and traded in the future,” said Ms Standton.
The partnership between Cointree and Rush Gold finding appeal amongst investors who generally look for more control over their assets. Both platforms have recently seen a rise in individual investors as well as SMSFs holders, who are looking to protect their portfolio against market uncertainty.
Both companies are also known for their world-class security, with Rush Gold holding gold bullion on behalf of their customers in a high-security Australian vault, insured by Lloyds of London and protected by Australia’s strict financial controls and world leading property rights.