Alankit partners with Digital Swiss Gold to make buying simpler

Financial and digital solutions major Alankit on Wednesday announced partnership with Digital Swiss Gold (DSG) platform allowing investors to buy and hold physical gold digitally in Switzerland as well as sell and send gold via a mobile app.

The partnership will tap into 2.5 crore customer base of Alankit and enable them to understand as well as invest in high-quality Swiss gold digitally.

An investor can become a DSG member by creating an account on the app within minutes and buy Swiss gold digitally, starting from as little as one gramme, once the KYC process is completed.

Alankit Imaginations Ltd said the collaboration with DSG will allow them to offer competitive and transparent pricing, saving its customers up to 10 per cent when compared to published Indian gold prices by sourcing gold directly from Swiss refineries and eliminating middlemen.

DSG's Swiss gold meets the highest standards of 0.9999 fineness and is compliant with all London Bullion Market Association gold bar specifications.

All purchases are recorded permanently on a private permissioned blockchain and buyers are issued a picture of the gold bar with serial number along with a digital warehouse receipt.

The gold is audited and stored in insured non-bank Brink's vaults at Zurich in Switzerland.

"The innovative and technological approach towards gold purchase will make owning gold accessible to all," said Alankit's Managing Director Ankit Agarwal.

( With inputs from ANI )