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Vaulted precious metals platform OneGold announced the launch of a new Mastercard (NYSE:MA) that instantly liquidates users' gold and silver holdings at spot prices to fund everyday retail purchases and ATM cash withdrawals.
The OneGold Card card was introduced alongside a full rebuild of the company's mobile application and website, allowing customers to spend their allocated metal balances anywhere Mastercard is accepted.
The system bypasses the traditional friction of liquidating physical bullion, eliminating the need to sell assets at coin shops, wait for checks to clear, or delay transactions while bank transfers settle.
When a customer swipes the OneGold Card or utilizes it via Apple Pay and Google Pay, the platform instantly converts the required fraction of their gold holdings into fiat currency at the current spot price.
The company stated it will not charge selling fees on US gold conversions used to fund purchases or withdrawals. A similar selling fee waiver applies to US silver holdings through December 31, 2026.
“With this card, gold is money again,” said Ken Lewis, CEO of Bullion International Group, OneGold's parent company. “For centuries, gold has been the ultimate store of value and inflation hedge, but it hasn’t been something you could spend at the register. The OneGold Card removes that final barrier, making precious metals as liquid as the cash in your wallet.”
Founded in 2018, OneGold attempts to combine the liquidity and low trading costs of an exchange-traded fund with the direct ownership of physical metal. Customers hold allocated positions in gold, silver, and platinum stored in their choice of vaults globally.
The platform currently manages more than 4 million ounces of metal, which is fully insured through Lloyd’s of London and verified by regular third-party audits. To date, OneGold has processed over US$1.5 billion in transactions.
Bullion International Group operates multiple entities across the precious metals supply chain, providing minting, vaulting, wholesale, and retail services through brands including APMEX, MTB, and GOLD AVENUE.
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Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.
Editorial Disclosure: OneGold is a client of the Investing News Network. This article is not paid-for content.