VeraCash provides an online account and payment card that allows users to save and transact using physical gold and silver, ensuring 100% backing by stored precious metals. This service addresses the need for financial independence from traditional banking systems while offering a secure and accessible way to manage wealth through tangible assets.
Funding
$2.4M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
Founders
Product
Problem
Traditional banking systems can be unreliable or inaccessible for some individuals, while storing precious metals at home poses security risks and logistical challenges. Many individuals seek financial independence and a secure way to manage wealth through tangible assets outside of conventional financial institutions.
Solution
VeraCash provides a platform for users to save and transact using physical gold and silver, offering an alternative to traditional banking. Users can purchase and store precious metals, starting with a minimum of €1, with VeraCash handling the storage in secure vaults. The platform provides a digital interface via a mobile app or member area to view savings in grams of gold and silver. A linked Mastercard allows users to make payments backed by their precious metal holdings, offering a way to convert these assets into currency for everyday transactions.
Target Audience
Individuals seeking financial independence from traditional banking, those looking to diversify their savings with precious metals, and those interested in alternative payment methods using tangible assets.
Features
- Online account to buy, store, and manage physical gold and silver holdings.
- Veracash Mastercard for payments backed by precious metals, accepted worldwide.
- Mobile app (iOS and Android) for account management, transfers, and real-time price monitoring.
- Secure storage of precious metals in insured vaults, with regular audits confirming 100% physical backing.
- Option to buy GoldPremium, GoldSpot, Silver and Diamonds.
- No foreign transaction fees on card payments.
- Flexible spending limits on the Veracash card.
- Option to send and receive VRC (VeraCash) for free between users.