PHOENIX, AZ, April 02, 2019 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE --KEY CAPITAL CORPORATION (OTC Pink: KCPC) advises that the Company has agreed to acquire a 20% interest in GoldVault, a start-up that is launching a gold bullion “Round Up” App and savings accounts that will offer 9% per annum equivalent returns in gold – which is around three times the annual interest rate paid by traditional banks and industry competitors.
Saving for many millions of people is very difficult, until the recent introduction of Round Up Apps. Instead of trying to save pennies and loose change in cookie jars, new Round Up Apps automate savings painlessly by automatically making very small deposits into individual savings accounts each time debit card purchases are made. This small deposit is the “round up” amount of each purchase to the next whole dollar (or other currency unit).
With Round Up Apps gaining traction globally, traditional banks such as Bank of America, Wells Fargo, Lloyds, ING, First Citizens, Centier, and many more are also rapidly adopting Round Up offerings. However, as with traditional savings accounts, the interest paid is mediocre and, in most cases, well below 3% per annum. GoldVault has been positioned to uniquely change this low return landscape.
GoldVault Accounts are held in gold bullion rather than as fiat accounts of dollars, pounds, euros, etc. GoldVault Account holders will use their Round Up and/or savings App to purchase fractional gold, with these gold accounts providing for a return (in gold) that is more than three times that of bank savings accounts. Additionally, if the gold price were at any time to escalate, account return values would dramatically increase.
GoldVault will initially focus on this disruptive entry into the global savings market and the fast-growing niche ‘Round Up’ market which has witnessed rapid adoption and growth, especially over the past two to three years. Examples include industry pioneer Acorns, which is now valued at over US$1.5 billion, and London-based Revolut, which catapulted to a US$1.7 billion value last year and then doubled its client base to some 4 million accounts today.
GoldVault has significant points of difference and advantage to banks and competitors including:
- Its ‘currency’ is gold and, therefore, universal.
- Comparable interest equivalent of a base 9% PA is over three times that of banks and competitors.
- GoldVault will utilize its own Refinery and Mint to process and fabricate its bullion products.
- All global remittances and transfers between GoldVault Accounts anywhere will be free.
- Many industry experts expect gold to appreciate substantially over coming years.
As well holding a 20% equity interest in GoldVault, Key Capital will work with GoldVault to secure gold streams and provide Treasury services through proven team members that have successfully managed funds averaging high-yield returns for more than a decade.
In consideration of acquiring the 20% equity interest in GoldVault, on a fully diluted basis, Key Capital will issue 10 million Restricted Shares and US$200,000 cash over 12 months as payment of GBP 4,320,000 (US$5.7 million). GoldVault is currently raising GBP 5.5 million (US$7.25 million).
For further information contact:
Christopher Nichols at +1 (480) 745-2565, or info@keycapitalgroup.com or see www.keycapitalgroup.com
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