Industry

Published by Australian Fintech on 11 July 2022
Click here to read on the Australian Fintech website

Rush Gold and BGL Corporate Solutions have announced that the industry’s first and only gold bullion transaction integration for self-managed super funds (SMSF) is now live.

Rush Gold is an Australian award-winning fintech and Gold-as-a-Service (GaaS) platform. BGL Corporate Solutions is Australia’s leading provider of self-managed superannuation funds, investment portfolios and company compliance management software. The partnership will offer gold bullion for the first time in BGL’s Simple Fund 360 and Simple Invest 360 products.

Rush Gold CEO Jodi Stanton said, “We’re thrilled to be the first to offer a low-cost premium gold investment opportunity to BGL’s growing client base, especially as investors increase their SMSF and investment portfolios within this inflationary environment.”

BGL Corporate Solutions Founder and Managing Director, Ron Lesh commented on the partnership saying, “It’s great to add Rush Gold to the BGL Ecosystem. The integration with Simple Fund 360 and Simple Invest 360 will allow the administration of physical gold bullion holdings to be consolidated and managed within investor portfolios.”

Simple Fund 360 is an AI-powered SMSF administration solution providing streamlined SMSF compliance management and administration. Simple Invest 360 is an end-to-end investment portfolio management solution helping accountants streamline CGT compliance management for trusts, companies, and individuals.

Stanton concluded, adding, “Rush Gold’s unique Gold-as-a-Service platform is expanding from its home in the Australian market, across the world, giving digital access to a premium gold product.”

Rush Gold is currently active in 15 countries and the BGL Ecosystem has over 350 partners, so the reach with these two companies is wide-reaching and global.

Published by Australian Fintech on 07 March 2022
Click here to read on the Australian Fintech website

BGL Corporate Solutions, Australia’s leading provider of SMSF administration, portfolio administration and ASIC corporate compliance solutions, in collaboration with Cointree, a leading cryptocurrency exchange, announce the release of NBOC; an Australian based solution providing a daily price feed for hundreds of cryptocurrencies.

“This is an industry first solution, and we are extremely proud to have developed NBOC together with our long-term friends and partners at Cointree,” said Ron Lesh, BGL’s Managing Director. “Unlike stocks on the ASX that cease trading every afternoon and have a single price, cryptocurrencies are traded 24/7 across multiple exchanges and in multiple countries. This makes accurate valuation challenging. So, BGL and Cointree developed NBOC to solve this problem for our clients with the goal of making cryptocurrency valuations reliable and more accessible for everyone.”

“We have witnessed a significant increase in SMSFs and trusts investing in cryptocurrency over the last five years,” said Shane Stevenson, Cointree’s CEO. “There is an increasing need to value cryptocurrency trades accurately and with confidence. The BGL team has been fantastic to work with and we are all very excited to deliver an industry-first solution to SMSFs.”

Cryptocurrencies are a growing asset class in BGL’s Simple Fund 360 and Simple Invest 360 which now administers $100’s of millions in cryptocurrencies. NBOC’s exclusive daily automated data feed will provide Simple Fund 360 and Simple Invest 360 clients with up-to-date prices for cryptocurrency for SMSFs, companies, trusts and individuals. The cryptocurrency valuation is used for calculating values for financial reports and member balances at 30 June.

NBOC aggregates the public pricing data from five of Australia’s largest and longest-running crypto exchanges; Cointree, BTC Markets, CoinSpot, CoinJar and Independent Reserve. Combining this data provides a ‘fair and reasonable’ valuation. As each exchange may have differing prices, NBOC will generate valuation taking into account these differing prices.

“The BGL Ecosystem has 350+ partners and we are thrilled to add Cointree NBOC to the list,” added Lesh.