1,100 Year Old Royal Mint is Fintech's Hottest New Brand

We at FintekNews are HUGE fans of the CME (Chicago Mercantile Exchange) and while we wrote about this partnership a few months ago, we just had to “refresh” this collaboration. It's not often that one of the world’s oldest brands teams up with an innovative financial firm AND is now considered fintech. So, that’s what’s happened and that’s what makes this such a cool read.

The Royal Mint is over 1,100 years old and is still considered a fintech company. That’s correct, they're working in partnership with the Chicago Mercantile Exchange (CME) to develop a fintech product that promises to shape the way physical gold trading will be done in the future. Branded RMG (Royal Mint Gold), this new product will use blockchain technology to feature a new trading platform and revolutionize the way gold is bought, held and traded in the spot market. Guess you can teach an old Mint new tricks. (Bill Taylor/CEO)

"In November 2016, The Royal Mint announced the launch of Royal Mint Gold (RMG), a new exchange-traded product that will provide an easier, more cost effective and secure alternative to buying, holding and trading spot gold. Working in partnership with CME, the world’s most diverse derivatives marketplace, this new FinTech product will shape the future of physical gold trading, and is proof that there’s more to the centuries-old Royal Mint than meets the eye.

The Royal Mint is over 1,100 years old, its longevity built on a spirit of continuous innovation. It has constantly challenged and improved the way in which currency and precious metals are manufactured, stored and distributed. This mindset is underpinned by centuries of experience, and a reputation for integrity and accuracy. As a result The Royal Mint has not only survived and thrived for over 1,000 years, but is fit for the next 1,000 years and beyond.

The latest evidence of this philosophy is the announcement of a partnership with CME Group to change the way we trade gold with Royal Mint Gold (RMG). This new exchange-traded product will see RMGs issued as a blockchain based digital record of physical gold that stored in The Royal Mint’s own secure on site precious metals vault. CME Group, the world’s most diverse derivatives marketplace, will develop and operate the digital trading platform. The Royal Mint's vision is for RMG to offer an easier, more cost effective and secure alternative to buying, holding and trading spot gold, building on the learnings from The Royal Mint’s history to shape the future of gold trading."