Lionsgold (LON: LION), the AIM quoted company focused on the exploration, production and retail application of physical gold, including the development of the Goldbloc digital currency, is pleased to report that Railsbank Technology Limited (“Railsbank”), with whom Lionsgold recently signed a Binding Heads of Agreement (“BHA”) for a 12.5% equity stake and exclusive use of their banking and compliance platform for physical gold and gold derivatives, has today announced that it has entered into an agreement with business to business card issuer, Cornercard UK, to see Mastercard debit cards issued in connection with bank accounts provided through the Railsbank platform.
Railsbank, the UK-based open banking and regtech platform, will become a debit card programme manager under the agreement with Cornercard UK, allowing Railsbank customers, such as Lionsgold’s fintech subsidiary’s digital gold currency, Goldbloc, to have their own branded Mastercard debit cards that work with Railsbank bank accounts and International Bank Account Numbers (“IBAN”s).
Lionsgold Chief Executive Officer, Cameron Parry, commented:
“This is excellent news for Railsbank and for Goldbloc. With Railsbank entering into an agreement with Cornercard UK and confirming the use of Mastercard with their debit cards, this locks in another exciting aspect of the Goldbloc offering, due for release in Q2 this year.
“Further, Lionsgold is midway through its due diligence in relation to its proposed investment to acquire an 12.5% equity stake in Railsbank and secure an exclusive three-year period for Lionsgold to utilise Railsbank’s banking and compliance platform for physical gold related products, such as the digital gold currency, Goldbloc.
“We look forward to updating shareholders in relation to Lionsgold’s proposed investment in Railsbank once due diligence is complete.”
A full copy of the Railsbank announcement can be found at: https://www.railsbank.com/single-post/2018/01/31/Cornercard-UK-joins-the-Railsbank-platform-to-issue-Mastercard-debit-cards
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