GoldMoney has separated its digital currency-focused arm, Netagio Limited, which it launched in December 2013, from the GoldMoney group.
Chief executive officer Geoff Turk says the decision to make Netagio a standalone company is down to the dynamic nature of the digital currency business.
“It is a rapidly evolving opportunity and we felt we could best take advantage of that by creating a small, nimble operation that can be focused on the unique nature of this new market, allowing GoldMoney to continue to concentrate on its established customer base and core business opportunities,” he says.
“Netagio has been infused with more than a decade of knowledge and experience from GoldMoney, which is now being applied to digital currencies such as Bitcoin. The same high standards that have been used successfully by GoldMoney to enable the purchase and storage of more than USD1.5bn of precious metals will also be applied to digital currencies by Netagio.
“Netagio has benefitted greatly from its GoldMoney parent, but it’s time for us to separate the businesses to ensure we can fully focus on their unique customer profiles. Netagio is an exciting venture in digital currencies which represent the way ahead for online transactions. GoldMoney will continue to focus on the world’s oldest currencies, gold and other precious metals and the interests of its 22,000 customers worldwide.”