To offer digital gold as an investment option, Nivesh, a digital-first financial services firm, has teamed with MMTC-PAMP, a joint venture between India’s MMTC (a government of India initiative) and Switzerland’s PAMP SA.
Digital gold is a virtual gold investment with pure gold as the underlying asset, translating to virtual gold possession. MMTC-PAMP offers 24K, 999.9 purest gold stored in insured bank-grade vaults on behalf of investors.
According to Nivesh, gold recognised by the London Bullion Market Association (LBMA) is accessible as low as Re 1 on the platform, making it a safe and sound investment.
Anurag Garg, Founder and CEO of 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 24×7 with a single click going by real-time rates.”
Nivesh also offers mutual funds, term deposits, peer-to-peer lending, alternative investment funds (AIF), NPS, bonds, and other investment options.
