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Business News/ Markets / Commodities/  Upstox launches digital gold platform: All you need to know
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Upstox launches digital gold platform: All you need to know

Upstox customers can now buy digital gold of 24 karats, 99.9% purity at live market rates
  • Customers will soon have an option to convert digital gold into physical coins and have it delivered anywhere in India
  • Gold prices in India include 12.5% import duty and 3% GST.Premium
    Gold prices in India include 12.5% import duty and 3% GST.

    Mumbai: Upstox (also known as RKSV Securities India Pvt Ltd), has launched a digital gold investment platform. Apart from investing in the stock market and mutual funds, Upstox customers can now also invest in gold - online and right from the mobile app. Upstox is one of India’s leading and fastest-growing digital brokerage firms.

    The Upstox Digital Gold platform enables customers to buy 24-karat digital gold of 99.9% purity at live market rates, updated in real-time on the platform. The purchased gold can then be converted into physical coins/bars or stored in the vault.

    Also Read | What 2020 did to India’s inequality

    Gold is considered a store of value, a symbol of wealth, and generally one of the safest investment options. At Upstox, we believe that everyone must have access to multiple investment options so that they can build a balanced and diversified portfolio. We want a greater segment of people to take advantage of the Digital Gold offering along with Stocks, Mutual Funds, IPOs, NFOs, and other products to maximize ways to build wealth," Ravi Kumar, CEO & Co-Founder, Upstox, said.

    The transaction is entirely digital, enabling customers to purchase or redeem the purchased gold on the platform itself. Upstox will soon offer customers the option of converting digital gold into physical coins and have it delivered anywhere in India, even for as low as 0.1 gm, with free transit insurance.

    With over 2 million customers, Upstox is incessantly working to increase investment options for its customers while delivering an optimal experience. Upstox has partnered with Augmont, an integrated precious metals management company that empowers customers to begin investing in Digital Gold seamlessly, starting at just Rs1.

    Upstox was founded with the vision of making financial investing easy, equitable, and accessible to all Indian investors. It offers online investments in Stocks, Derivatives, Commodities, Currencies, Mutual funds, and ETFs for professional traders and investors.





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    Published: 19 Jan 2021, 12:03 PM IST
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