Upstox (also known as RKSV Securities India Pvt Ltd) launched a Digital Gold investment platform where one can purchase gold from Re 1 onwards.
Digital brokerage firm Upstox (also known as RKSV Securities India Pvt Ltd), on Tuesday launched a Digital Gold investment platform where one can purchase gold from Re 1 onwards. The Upstox Digital Gold platform, as per the company, 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.
Commenting on the launch, Ravi Kumar, CEO & Co-Founder at Upstox, said, "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," he added.
The Digital Gold on Upstox is certified by the Bureau of Indian Standards (BIS).
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.
Selling Digital Gold on Upstox is also as easy as buying. You just need to enter the amount of gold you wish to sell in grams or rupees and then confirm the details and complete the transaction. The amount will be credited to your bank account within two business days. You can sell your gold any time after five days from the date of purchase. You can get delivery of gold for quantities of 0.1 gram or above.
Upstox has partnered with Augmont, an integrated precious metals management company that empowers customers to begin investing in Digital Gold seamlessly, starting at just Re 1.
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