LAS VEGAS, Oct. 24, 2017 /PRNewswire/ — Civic, the company revolutionizing digital identity with its Blockchain-based technology, today at Money 20/20 announces the expansion of its partnership with BitGo. The new initiative adds KYC services to BitGo’s new Royal Mint Gold (RMG) wallets, enabling consumers to invest in real gold held by the Royal Mint.
“We’re excited to announce that BitGo will be our first full digital KYC partner for the Civic Network, and that we are enabling this important compliance function for their customers,” said Civic CEO Vinny Lingham. “We look forward to continuing our relationship and bringing together our services to better serve customers and improve the investing experience.”
RMG is a new, innovative gold investment product that is digitally traded using blockchain technology. Purchasers of RMG will have the opportunity to invest in real gold with the ability to trade value on an exchange. The project will initially be available to all UK residents and will expand globally in the coming months.
“We chose the Civic identity solution because of their innovative underlying model which protects consumers and businesses alike. Civic is keeping user data safe in a way which provides higher accuracy for businesses at lower cost,” said BitGo CEO Mike Belshe.
RMG was initiated by The Royal Mint (Her Majesty’s Treasury) and CME Group in 2016 and aims to change the way gold is traded, executed and settled by making it available for trade with a transparent ledger of ownership and lowering costs.