History

History of Vaultoro
The Story of bitcoin and the scigala brothers

We’re going back… way back.

February, 2015
Launch of the First Gold to Bitcoin Exchange
Scigala brothers launched a transparent trading platform that helps anyone protect their assets in Physical Gold.
February, 2015
January, 2017
Techstars Accelerator
Vaultoro joins the Techstars Berlin '17 Class. Techstars is a global network that helps startups succeed.
January, 2017
September, 2017
Closing a Seed Round
Vaultoro closes its seed round with German Fintech Venture Capital firm Finlab AG.
September, 2017
March, 2018
Bar9 Launch
In our journey to democratize Gold, Vaultoro launches a second product that allows users to buy gold with Euro, not only cryptocurrency.
March, 2018
May, 2018
Receiving Investment from DASH DAO
The integration of DASH in the existing and working crypto-gold exchange does not only bring DASH to our 12,000+ users from 94 countries but also to make our gold and general commodities community aware of DASH’s advantages and user friendly features.
May, 2018
September, 2019
The New Vaultoro
With a fresh UI upgrade, more trading pairs, cryptocurrencies and (soon) a variety of precious metals, the relaunched Vaultoro allows for faster and better trading.
September, 2019
October, 2019
Closing Equity Crowdfunding Campaign
Heading to its next growth stage, Vaultoro raised an equity crowdfunding round on BnkToTheFuture.
October, 2019
2020
Planned: Launch of VGOLD
The lightning-based gold token is currently under development. The asset will be backed by one gram of investment-grade bullion. VGold will also be insured just like its physical counterpart.
2020

Vaultoro's Mission

Digitize the world’s assets and make them transparently accessible to everyone!

The Vaultoro Story

The History of Vaultoro begins like many startup stories do: with someone frustrated with the status quo, and enough drive to do something and solve the problem.

The Scigala Brothers

As an early crypto enthusiast, Joshua Scigala began promoting the use of blockchain technology around the world. Then in February 2014, the biggest History of the bitcoin exchange at the time, responsible for over 70% of all BTC transactions worldwide, filed for bankruptcy and reported that over $450 million worth of Bitcoin were missing.

The MtGox collapse, as it came to be known, took away the investment of thousands of crypto users, including Joshua’s. Despite the losses, this event gave the Scigala brothers the drive to create a new crypto exchange with transparency at its core, where users could audit the assets of the exchange, anonymously and in real-time.

The Market’s First Gold
Bitcoin-hedging Solution since 2015

In 2015 Joshua Scigala together with his brother Philip Scigala founded Vaultoro – the first crypto / gold exchange in the world to offer a transparency protocol and fully allocated, investment grade (LBMA) gold.

Soon Vaultoro entered into partnerships with two of the largest gold dealers in Europe, pro aurum Switzerland AG and philoro Switzerland AG. Vaultoro chose Brink’s in Switzerland, the world’s oldest and industry leasing storage company for precious metals, as its main warehouse. 

Vaultoro is based in the UK and has a branch in Berlin, Germany.

Supported by global networks 

Vaultoro is powered by fintech accelerators Techstars and Finlab AG. In 2018, the Dash DAO invested in the development of the first Dash-gold trading pair, and in 2019 a crowdfunding campaign via BnkToTheFuture gave Vaultoro users the opportunity to acquire part of the company.

Building trust with the highest process quality

Today, more than 21,000 customers from 94 countries are buying and selling gold against Bitcoin and Dash via Vaultoro. The Vaultoro Group manages 505 kilograms of gold for its customers, worth more than 20 Mio. EUR (as of November 2019) – always more than 100% above reserve, audited monthly, and in addition audited annually by the TOP-5 auditing company BDO Switzerland. All precious metals and all crypto assets are permanently verifiable for every customer by the highly innovative Glass Books Protocol – a great move forward to transparency and reliability for all the customers of Vaultoro!

In 2018, Vaultoro became a member of Blockchain Bundesverband, Germany’s leading association for the blockchain industry. Here, the company exchanges information with other blockchain market leaders, especially on current innovations and regulatory measures.

Expansion of Offered Services in 2019

At the end of 2019, Vaultoro has included DASH as a new crypto currency for trading against gold. The range will also be extended to include tax-free silver. Further precious metals and crypto currencies are planned. Vaultoro is also working on an history innovative service in Switzerland so that customers can pick-up larger quantities of gold from their warehouse themselves.

2020: The number 1 for Gold – Crypto Trading Starts Digitizing Hard Assets

Vaultoro is preparing to launch VGold – a 100% asset backed gold token, tradeable on different exchanges all around the world, transparently accessible to everyone. Users of VGold will profit from European regulation processes and from the proven Vaultoro quality! Shortly after the launch of VGold Vaultoro will be able to transfer the whole framework to other hard assets. So look forward to VSilver and many more 100% and trustfully backed tokens!

Here the graph from the current website vaultoro.com/about

“Bitcoin is one of the greatest peaceful revolutions the world has ever seen."

Joshua Scigala, CEO and co-founder of Vaultoro Tweet