Key Data

• Trading Name: VeraCash
• Legal Entity: VeraCash SAS
• Activities: Online Account backed by Assets
• Location: France
• Regulations: acts as a Payment Services Agent 
• Key People:Jean-François Faure
• Latest news: VeraCash
• Latest update: October , 2024

VeraCash is an online account backed by physical precious metals.

Offering

VeraCash offers a unique way to hold and manage precious metals through an online account backed by assets like gold, silver, and diamonds. Users can buy and hold gold (GoldPremium and GoldSpot options), silver (as Vera Silver coins), and diamonds, with assets securely stored in high-security vaults in Geneva. Their platform provides a VeraCash Mastercard, enabling users to spend their precious metals in daily transactions. Additionally, users can transfer funds, diversify portfolios, and protect against inflation with these assets.

Key Features of VeraCash:

1. Gold and Silver Investments: Buy, hold, and sell precious metals such as GoldPremium, GoldSpot, and Vera Silver coins, each offering unique liquidity and pricing options.
2. VeraCash Debit Card: A Mastercard linked to the VeraCash account, enabling users to make payments with gold and silver assets. This allows easy conversion of stored metals into everyday currency.
3. Instant Precious Metal Transfers: Users can send or receive VeraCash between accounts in real-time without traditional banking fees.
4. No VAT on Silver Coins: When buying silver coins instead of bullions, investors benefit from reduced taxation in specific regions.
5. Secure Storage and Insurance: Assets are stored in Geneva Free Ports, one of the most secure storage facilities globally, and backed by insurance.
6. Multinational Payment Service: VeraCash is regulated as a payment services agent, ensuring compliance with financial standards and security protocols.
7. Portfolio Diversification: Offers flexibility to hold and diversify assets into multiple precious metals, adapting to both short- and long-term financial strategies.

Regulation

VeraCash acts as a payment services agent for Treezor SAS, an electronic money institution approved by the ACPR under number 16798 for the provision of payment services within the meaning of article L.314-1 of the French Monetary and Financial

Customer Review

Trustpilot: 4,6 Stars with 560+ Reviews

Key People

• Jean-François Faure:

Jean-François Faure is the founder and CEO of AuCOFFRE.com, a French company specializing in physical gold and silver investments. He also created VeraCash, a gold-backed digital account and debit card service, and VeraOne, a blockchain-based gold token. His focus is on providing secure, transparent investment solutions in precious metals and promoting them as a stable alternative to traditional currencies.

AuCOFFRE.com’s subsidiary

The AuCoffre Group is a French-based company specializing in the trading and storage of precious metals like gold and silver. Established in 2009, AuCoffre focuses on providing secure investment solutions, including physical gold ownership and innovative digital assets. The group oversees several subsidiaries, including VeraOne and VeraCash, which integrate traditional precious metals with blockchain technology, offering investors stability and flexibility. AuCoffre’s mission is to make investing in precious metals more accessible and transparent through both digital and physical means.

Related Schemes

VeraOne, a sister company of VeraCash, is part of the AuCoffre Group and offers a gold-backed stablecoin called VRO on the Ethereum blockchain:

VeraOne

Audit

VeraCash ensures the transparency and security of its precious metals through regular independent audits of its vaults by the ALS Group. With over 30 years of experience, ALS is a global leader in inspection, analysis, and certification of metals. Their services include verifying the presence and authenticity of the stored assets, thereby reinforcing VeraCash’s commitment to trust and integrity for its members. This approach reflects VeraCash’s dedication to high standards of transparency and ethical business practices.

Serving Industries

VeraCash is primarily aimed at individuals looking for an alternative, secure method to store and spend wealth through precious metals. Their target audience includes those who value financial stability, privacy, and the ability to diversify assets outside traditional banking systems. This group often consists of investors, digital nomads, and those seeking to safeguard their wealth in tangible assets like gold and silver, while still having the flexibility to use these assets for everyday transactions.

Rating and Conclusion

Compliance Rating: Green

Customer Rating: Green

VeraCash has been rated as “Green” for both compliance and customer satisfaction, as it meets all necessary criteria in terms of transparency, security, and service quality. Their strict adherence to regular independent audits by the ALS Group, combined with a user-centric approach and high standards of ethical conduct, establishes VeraCash as a trustworthy and reliable partner for its customers. This rating reflects their ongoing commitment to providing a secure and transparent environment for precious metal investments.