Owner: Jay (Founder) · Entity: Fortress Gold Inc. dba SQOOT Pure · Created: June 3, 2026 Companion to: “SQOOT Pure Coin Purchase Design and Requirements 2026 0603” (fixed-size coins). This doc adds the dollar-denominated + gifting feature.
The feature we’re missing isn’t “a gift card” — it’s buying gold by dollar amount (put in $100, get whatever fractional gold that buys). GoldWise’s entire product is built on that. Once you have dollar-denominated buying, a $100 gold gift card is just that same engine pointed at a recipient instead of yourself.
A UK fintech founded by former Royal Mint executives. Mobile-first. It is the cleanest reference for “modern app + real gold.”
Your spec sells fixed coins (1/10, 1/2, 1 oz). GoldWise proves the more flexible primitive is “buy $X of gold.” Add that, and you unlock both: (a) buy any dollar amount, (b) gift any dollar amount — the $100 gift card.
Add a second buy mode alongside fixed coins:
| Mode | User picks | We compute |
|---|---|---|
| By coin (current) | 1/10 / 1/2 / 1 oz × qty | price = spot × weight + premium |
| By amount (new) | $ amount (e.g., $100) | oz = (amount − fee) ÷ spot |
This single addition powers the gift card, round-number gifting ($25/$50/$100), and recurring “stack $X/month” later.
Two models — pick one (recommended first):
Model A — Stored value, gold allocated at redemption (RECOMMENDED). - Buyer pays $100. It’s held as safeguarded stored value (GoldWise-style segregated funds) until redeemed. - Recipient redeems → completes KYC → the $100 converts to allocated gold at that moment’s live spot, owned by the recipient. - ✅ Pros: buyer needs no gold-owner KYC (they’re just paying); recipient becomes the verified owner; simple “gift card” mental model; no title-transfer machinery. - ⚠️ Cons: gold price moves between buy and redeem (recipient bears it); you hold stored value (stored-value / money-transmission + unclaimed-property rules apply).
Model B — Buy gold now, gift the holding. - Buyer pays $100, gold is bought and allocated immediately (price locked at purchase), then title transfers to the recipient on redemption. - ✅ Pros: gift is “locked in gold” — no price risk for recipient; truest to “you gave them gold.” - ⚠️ Cons: buyer must KYC (they momentarily own gold); need a title-transfer/allocation-reassignment flow; harder.
Recommendation: ship Model A first (simpler, lower KYC friction, matches gift-card expectations), and offer Model B later as “lock the gold now” for price-sensitive gifters.
Buy / Send a gift 1. Choose amount — $25 · $50 · $100 · custom. Show “≈ X oz at today’s spot” so it feels like gold, not just money. 2. For me or a gift? — toggle. 3. If gift: recipient name + delivery (SMS / email / shareable link — your gift-link system), optional message, occasion design (Diwali, Birthday, Thank You, Congrats — mirrors Starbucks gift-card occasions and your Diwali 2026 GTM). 4. Pay (Stripe card / Plaid ACH). 5. Confirmation — gift sent; buyer sees status (sent / opened / redeemed).
Redeem (recipient) 1. Opens link/SMS → branded “You’ve been gifted gold” screen with the occasion design + message. 2. Create / sign in to SQOOT Pure. 3. KYC (required — recipient becomes the gold owner; 18+, identity). 4. $100 → allocated gold at live spot; lands in their holdings (“added to your holdings”). 5. Option to keep stacking (cross-sell into the main buy flow).
This is the riskiest part. A monetary gift card + later conversion to gold can trigger several regimes: - Stored value / money transmission — holding $ on behalf of users until redemption can look like money transmission / prepaid access. May require the safeguarded-funds model (GoLdWise uses an EMI; in the US, think Stripe + a stored-value/issuer arrangement). Confirm with Wisdom + counsel. - AML / KYC at redemption — the redeeming owner must be KYC’d before gold is allocated. Don’t allocate gold to an unverified person. - Unclaimed property / escheatment — unredeemed gift balances are governed by US state unclaimed-property law (and gift-card expiration rules, e.g., CARD Act). Define expiration / refund / escheat handling. - Gifting limits & sanctions screening — cap gift size for MVP (tie to the “$100 / 20-coin” thresholds), screen buyer and recipient. - No regulated data in marketing tools — gift promotion (creator links, Diwali campaigns) can run in GHL/marketing; the money + KYC never leaves the compliant stack.
The $100 gold gift card is the cleanest expression of SQOOT’s occasion-first + creator strategy: - Diwali 2026 — “gift gold for Diwali” is culturally perfect; a $100 gold gift beats a generic gift card. - Creator gift links — each creator shares a gift link; attribution via the link system. - Group gift — multiple people chip in toward one larger gold gift (your roadmap item) is a natural extension of the amount-based engine.
v1 — June 3, 2026. Sources: goldwise.com (home, FAQ, fees), fintech.global launch coverage.