The global recession is making us all rethink how we protect our savings. For many of us, the memory of the 2008 financial crash and the failings of the traditional financial system is still fresh in our minds. But the conditions are different now: for the past few years, emerging fintech companies have been offering viable alternatives, like challenger banks and money transfer platforms, that give users more control over their money.
Today, combining technology and safe ways of storing money is a matter of urgency. That’s what Miami-based fintech Coro Global Inc. is doing – building a global payment app for gold (a safe haven asset) and other currencies. Coro has just obtained licenses to operate in the US states of Florida and Alaska, with more approvals to come.
“Coro’s unique platform will allow people of any income to use gold as money in everyday transactions, as easily as they would US dollars or euros,” said Chief Executive Officer Mark Goode. “Our new licenses are the first step in building an international financial system in which anyone and everyone can buy and use gold, which is the world’s oldest currency for a good reason.”
Gold maintains its value over long periods of time, and has proven to be a reliable investment during times of economic crisis. Coro’s mobile app will allow users to easily buy, transfer, and exchange gold and US dollars; it aims to be licensed in all US states and Puerto Rico by 2021.