In collaboration with SafeGold, the brokerage firm launched digital gold investments on its mobile app and desktop platform on Thursday. Clients of IIFL Securities can now purchase Gold with a single click of a button, just like stocks, mutual funds, and debt products. IIFL Securities has partnered with SafeGold to offer 9999 fine 24 karat gold (99.99 per cent pure).
SafeGold obtains its “Good Delivery” bars from reputable sources for the digital Gold available on its platform. Periodically, Gold is tested autonomously. Be it a weekend or a holiday; Gold can be bought or sold for as little as Rs 1. There is no maximum amount of Gold that a customer can buy or sell. Customers can set up a Gold SIP and redeem jewellery with leading brands throughout the country seamlessly for a while.
Nandkishore Purohit, Chief Digital Officer at IIFL Securities, commented on the product launch, saying, “The partnership with SafeGold is part of our effort to collaborate with fintechs to deliver innovative and continuous investment products to our clients.” In addition to buying, selling, and receiving Gold, our customers will soon be able to transparently exchange their gold balance to purchase jewellery from partner brands, offer Gold via WhatsApp message, and obtain an instant loan on Gold accumulated through this platform.
SafeGold, a Digital Gold India Private Limited brand, is a leading platform that connects consumers, financial media, jewellers, banks, and vaults-strong. It combines the ease and speed of the Internet with the security of a SEBI Registered Trustee and provides more excellent protection than traditional gold purchases. Consumers’ physical Gold is securely stored in fully insured vaults.
Gaurav Mathur, Managing Director of SafeGold, stated on occasion, “Gold has seen a resurgence of interest over the last year, with investors seeing it as the asset class of choice in Gold. We are inspired to be operating with the IIFL Group. Their extensive business enables them to provide various innovative digital gold-related products, ranging from loans and standing lines of credit to bespoke investments and gold deposits for wealth management clients.”