Fintech Startup Dinero Launches Winning Option Tuesday, July 12 digital gold MMTC-PAMP . on your app by partnering with India Pvt. Ltd., to attract young Indians. With this launch, users stand a chance to win 999.9 percent pure gold at any time on Dinero’s application, the company said in a press release that day. Digital gold acts as a form of small investment where people can make as little as Re 1 depending on the asset. The Dinero app encourages youth to invest in a variety of ways through its platform, and rewards them with commodities, including digital gold, when they arrive. Invest gold.
What is Digital Gold?
As the name suggests, digital gold is gold that can be bought online. The equivalent value of physical gold is held by the seller on behalf of the investor in a secure vault. One can buy digital gold through various platforms. In India, the three companies that sell digital gold are Augmont Gold; MMTC-PAMP India Pvt. Ltd., a joint venture between state-run MMTC Ltd. and Swiss firm MKS PAMP; and Digital Gold India Pvt. Ltd. with its own SafeGold brand. You can also buy digital gold using payment wallets. Digital gold purchased from MMTC-PAMP is likely to be more pure than others.
What is Dinero Offering?
“Dynero and MMTC-PAMP create the perfect synergy by leveraging the digital infrastructure provided by MMTC’s platform and Dynero’s consumer base, to reach out to the segment of young Indians and ask them to invest their money and get rewarded. To earn digital gold. This partnership will not only encourage investment habit but will also support the successful march of the country towards Digital India,” the company said in a press release.
The application, which is available exclusively on the Android Play Store, emulates the experience of collecting treasure as an exciting and gamified experience. After purchase, the gold will be added to an insured bank-grade vault at a facility owned by MMTC-PAMP and will have zero holding charges.
While many fintechs are still following the traditional methods of cashback, the company is going a step further by rewarding its customers with this timeless asset for building consistent financial habits, the company said.
Commenting on the launch, Kashyap Mahavadi, Founder, Dynero said, “Our current focus is on helping urban youth meet their goals through investments. This could be a game-changer for young users as their consistent investing habits will now be rewarded. Rewards earned on the app can be converted into Digital Gold. We have partnered with MMTC-PAMP, one of India’s leading digital gold providers.”
Amul Saha, Chief Digital Officer, MMTC-PAMP said, “We are extremely pleased to announce our partnership with Dinero. Digital Gold is a dynamic investment instrument that is fully liquid and allows investors to buy 24K, 999.9 pure gold at any time. Allows to buy/sell gold. Unlike gold jewellery, when you buy digital gold you do not have to pay any making charges which can be destroyed 24×7 with a single click. Storage cost, which is considerable When the customer stores gold jewelery in the bank locker, there is zero for digital gold as we ensure that the customer’s holding is kept safe in a 100% secure and insured bank-grade vault at a facility owned by MMTC-PAMP ..”