1 month ago

BlueStone and SafeGold Partner for Gold Monetization

BlueStone and SafeGold Partner for Gold Monetization
BlueStone, SafeGold Partner To Convert Household Gold Into Digital Gold · inc42.com

BlueStone, a jewelry retailer, and SafeGold, a digital gold platform, have teamed up to help people turn their unused gold jewelry and coins into digital gold.

This digital gold can then be leased to jewelers, earning the owners a small amount of extra gold each year.

This idea aims to use the huge amount of gold sitting unused in homes and bank lockers, making it useful again.

It also helps jewelers get the money they need to run their businesses.

While this is a good idea, there are some rules and concerns about digital gold that need to be sorted out.

Key facts

Partners
BlueStone and SafeGold
Objective
Convert household gold into digital gold
Yield
4% annual yield in gold grams
Estimated Household Gold
30,000 tonnes
Regulatory Body
SEBI
Self-Regulatory Organization
Digital Precious Metals Assurance Council of India (DPMACI)
BlueStone Q1 FY27 PAT
₹5.9 Cr
BlueStone Q1 FY27 Revenue
₹736.8 Cr

Quotes

SafeGold founder Gaurav Mathur

Founder of digital gold platform SafeGold

“"We are sitting on one of the largest reserves of idle household gold in the world, yet most of it earns nothing for its owners. Converting physical gold to digital gold allows customers to grow their gold holdings not just in value, but also in grams."”
inc42.com

Sources

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