Tech company Glint Pay Services is encouraging investors to throw their weight behind the precious metal as they “reintroduce gold as money”.
Users will be able to make payments through mobile phone apps or a conventional MasterCard, allowing anyone to buy, sell and gift gold by the gram – or fraction of a gram.
Available for iOS only, the way the app works is as follows: once you have successfully signed up, including passing the mandatory anti-money laundering checks, you are asked to top up your account. You can then choose to either leave your money in Sterling or convert it into gold (and in future any of the other supported currencies). Then when you pay for things with the Glint debit card you tell the app which ‘wallet’ (a particular fiat currency or gold) you want to spend from, and Glint does the conversion on the fly, including effectively selling the required gold to cover the cost of the purchase.
Official website: https://glintpay.com/