Gold app Glint collapses just months after fundraising
By GCRU Gold News on Thursday, September 26 2019, 21:55 - Permalink
A U.K. startup that promised to allow people to pay for goods in gold has collapsed, dealing a blow to its backers including Conservative MP Steve Baker, who had promoted the company on Twitter.
The Glint app allowed people to load credit in various currencies, which was then used to buy a portion of a physical gold bar, stored in a vault in Switzerland. Customers could use that gold via mobile and debit card-based payments. Glint said it had attracted tens of thousands of registered users since its launch last year, and had handled transactions worth more than $50 million.