History of Vaultoro
The Story of bitcoin and the scigala brothers
We’re going back… way back.
Launch of the First Gold to Bitcoin Exchange
Closing a Seed Round
Receiving Investment from DASH DAO
The New Vaultoro
Closing Equity Crowdfunding Campaign
Planned: Launch of VGOLD
Digitize the world’s assets and make them transparently accessible to everyone!
The Vaultoro Story
The story 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 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 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