Fintech cos Nivesh rolls out digital gold trade on its platform

Hyderabad Fintech services platform, Nivesh, on Friday said that it has partnered with MMTC-PAMP to offer digital gold as an investment option on its platform and provide wealth management experience to its users.

Digital gold is the virtual investment of gold with pure gold as its underlying asset and translates into holding gold virtually. MMTC-PAMP offers 24K, 999.9 pure gold secured in insured bank grade vaults on behalf of investors.

Anurag Garg, Founder and CEO, Nivesh, said: "We had started our journey with offering mutual funds as an investment option. Over the years, we have expanded our offerings and today we are glad to introduce Digital Gold as another investment option for our customers. Digital Gold is an excellent mode of holding Gold and building investment gradually in the long-term without associated costs of storage and safety. We are making investments in Digital Gold easier for our users through our platform."

Anika Agarwal, President, Consumer Business, MMTC-PAMP, said: "MMTC-PAMP strives to deliver authenticity and purity to its consumers and we have the largest gold ecosystem in the nation. Digital Gold is a dynamic investment instrument that is completely liquid by allowing investors to buy/sell at any time, without levying any transaction or exit charges and unlike gold jewellery, digital gold doesn't incur making charges. Whenever required, investors could liquidate their investments 24x7 with a single click going by real-time rates. MMTC-PAMP's quality assurances are unmatched and we have captured the heart of the Indian middle class through this collaboration. Nivesh offering digital gold on its platform will mean the proliferation of digital gold into lower tier cities and will help people be cognizant of a newer, safer, investment option."

MMTC-PAMP brings together MMTC Ltd, a Government of India Undertaking and Switzerland based bullion brand, PAMP SA i.e., a combination of Swiss craftsmanship and Indian values brings to the fore products of quality and purity, the company said.

Nivesh, a wealth creation platform, enables its users to grow their wealth using science, data, and technology. It offers other investment options such as Mutual Funds, Fixed deposits, Peer-to-Peer Lending, Alternative Investment Fund (AIF), NPS and Bonds.