FreePay Joint Venture
OroTree has recently formed a 50:50 joint venture with Technology company Crowd Machine over the South African projects. The joint venture entity is known as FreePay which will ultimately become a 100% gold backed zero-fee payment platform.
OroTree provides exploration, development and operational management oversight to the South African gold mines which upon redevelopment will deliver significant gold production to the FreePay platform.
Crowd Machine is responsible for delivery of the technology to support the gold payment platform. It will operate by providing gold in digital form to subscribers to be used for wealth storage, currency hedge and ultimately for purchase of everyday goods and services once supported by merchant adoption.