Allow trading of gold bullion stored in insured, audited Swiss vaults against bitcoin.
They do not have any fiat banking services due to the added regulatory burden and the increased fees that would result.
I'm sure they could attract even more customers they could integrate bitFiat and bitGold as they could allow a 3rd asset for their users to hedge against eachother. Vaultoro would be insulated from regulatory burden and could collect fees on any UIA's they issue.
I think BitShares should establish a relationship with them as among other things such a partnership provides bts with a physical gold:bitGold and bitFiat:Physical Gold market to tighten the peg and increases liquidity.
Yet more opportunities to tighten the peg of bitAssets.
If Valutoro accepted bitUSD for gold an average joe banking user would still have to purchase bitFIAT with a bank card, and then send the bitUSD to Vaultoro or any company wishing to avoid traditional fiat integration.
What if BTS can facilitate this transaction in just one step?
The user enters the destination account for the bitUSD and is then presented with banking account numbers etc. to make their payment. The entity providing this service is presented with the risk of a charge-back or fraud.
If this entity could profit from UIAs or referral fees such that it more than covers such risks of fraud then it may be able to provide a service that doesn't require such extensive KYC measures.
Could existing exchanges like CCDEK provide this service?
A user who visits the vaultoro (example) site and wants to buy Vaultoro gold but pay with fiat could be directed to a payment window that links to participating exchanges. Within the window the user provides relevant details in order to purchase the gold. Hopefully after not too much form filling the customer's purchase is complete.
Under the hood, the customer has just bought bitUSD from the Exchange to the value of their purchase of gold at Vaultoro, plus a small fee. The Exchange immediately make payment in the same amount to Vaultoro. Vaultoro then transfer ownership of the gold to the customer. BitUSD transfers are as good as instant, and so long as the exchange can transfer the bitUSD to Vaultoro in a timely manner then the trade will be rather seamless and the customer can use their bank card (ease of use), Vaultoro have no extra regulatory burden and profit from an increase in potential customers, the exchange makes money on the spread, and BitShares benefits from liquidity.
Is this at all possible?