Digital gold is faster and better, says SafeGold CEO

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New Delhi: For centuries the most prized metal for all auspicious occasions, gold is even today stored away in lockers, outshining many other asset classes as the investment of choice with assured returns and the ability to glitter amid volatility.

Now, technology is shaking things up in the age-old scenario with the advent of a company such as SafeGold. Offering novel ways to invest in the yellow metal, the digital platform allows customers to buy, sell and receive vaulted gold at low ticket sizes 24X7 with the tap of a button. SafeGold’s vision is to create a global standard for digital transactions in gold, founder and CEO Gaurav Mathur told PTI.

“Digital gold has zero cash payments, digital KYC and is ideal for small ticket purchases of gold. It benefits from current market trends at multiple levels as is evident from the scale and growth of our business,” he explained.

The mission, Mathur added, is using technology to create innovative products in the gold industry by building a technology driven ecosystem, including consumers, banks, NBFCs, fintech platforms and jewellers, all connected through a common platform.

Typically, festivals see a surge in gold buying in Indian households where volumes can top 10x-20x of normal daily levels. Having the entire infrastructure on Amazon Web Services (AWS) cloud means that scaling up to manage these peaks becomes an “easy process”, Mathur said.