BackInvestment platform Nivesh to launch digital gold
As per Nivesh, with London Bullion Market Association accredited gold being available for as low as Re 1, it is a safe and sound investment being offered on the platform
PremiumNivesh, a digital-first financial services company, has partnered MMTC-PAMP, a joint venture between India's MMTC (a government of India undertaking) and Switzerland's PAMP SA, to offer digital gold as an investment option.
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 purest gold, which is secured in insured bank-grade vaults on behalf of investors.
As per Nivesh, with London Bullion Market Association (LBMA) accredited gold being available for as low as Re 1, it is a safe and sound investment being offered on the platform.
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.
Sharing her views on this collaboration, Anika Agarwal, president, consumer business, MMTC-PAMP said, “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."
Nivesh offers other investment options such as mutual funds, fixed deposits, peer-to-peer lending, alternative investment funds (AIF), NPS and bonds.
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