You can turn Krugerrands into cash in seconds, says this startup – without selling them | BISouthAfrica
"We then also send you a Troygold Mastercard. Our Mastercard is sponsored by Access Bank, so behind your Troygold wallet, you actually have a fully-fledged bank account, and it is what powers our Mastercard," he said."If you've got gold in your app, effectively you instantly have 75% of the value of that gold available in your currency wallet, so you can effectively take your Troygold Mastercard and instantly spend the value of that gold anywhere in the world," he said.
While the Troygold account charges no monthly account fees, it has standard transactional fees, and its loan interest rate is set at 1.25%. Bastiat said the company is in talks to get the interest rate even lower to be more competitive.
Troygold, which is also financially backed by another local fintech, Crossfin Ventures, is currently only available in South Africa, but the company plans to spread its operations internationally.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
MARC HASENFUSS: Now for the HCI cash-spinnerIf HCI sells out of its oil and gas interests, MarcHasenfuss’s money is on a cash-spinning machine.
Read more »
MARC HASENFUSS: Now for the HCI cash-spinnerIf HCI sells out of its oil and gas interests, MarcHasenfuss’s money is on a cash-spinning machine.
Read more »
Treasury DG says corruption could turn SA into a failed stateDondo Mogajane warns the country is sliding towards becoming a failing state
Read more »
LIVE | Russia announces ceasefire in two cities to allow evacuation in Ukraine, defence ministry says | News24As Russia embarks on its war with Ukraine, it's facing diplomatic, economic and public pushback from many different quarters.
Read more »
'The Queen' bows out after years on the small screenLocal telenovela The Queen has officially been canned and its final season will come to an end in January 2023. | MasegoSeemela
Read more »
BRIAN KANTOR: Bright prospects for SA if it seizes the mining momentThe country is perfectly poised to cash in on demand for oil and gas
Read more »