RCM hires firm to sell MintChip

The Royal Canadian Mint has selected Origin Merchant Partners to facilitate the sale of its MintChip digital currency product, which it began developing in 2012.

The RCM stated in a press release that Origin was selected as the result of a competitive procurement process.

“The Mint is pleased with the recent work completed by Boston Consulting Group in successfully packaging the MintChip assets, as well as identifying and engaging interested parties. We are well prepared for the next stage,” said Bob Zintel, director. “As we embark on the sale phase, we believe Origin is an excellent partner with a level of experience and expertise that will help us maximize the return on our investment.”

Working with Origin, the Mint expects to begin actively marketing the MintChip assets to the private sector in early February, 2015.

As reported previously by CCN, the MintChip is a digital currency system, for which the Mint has prototypes and eight patents pending, which aims to be the digital equivalent of the coins Canadians use every day to carry out financial transactions with retailers and with each other. Rather than a bit-coin wallet, it uses a secure chip to hold electronic value and a secure protocol to transfer electronic value from one chip to another.

Rather than create a new currency, MintChip is expected to integrate the buyer and seller and their banks into one system. Transactions are cloud based, and stored on a microSD card.

Origin Merchant Partners is an independent investment banking partnership that provides value added mergers and acquisitions, corporate finance and merchant banking services to clients across a broad range of industries.

 

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