Buy gold for Re 1: Paytm launches gold sale vertical

New offering is a wealth management product that would be a part of Paytm's proposed payments bank

There are not many things that can be bought for a rupee, a candy maybe. But, what if you could buy gold with that rupee? Alibaba-backed online marketplace company Paytm, in tie-up with MMTC’s Swiss venture PAMP SA, is making it possible in a first such initiative anywhere in the world. 

Paytm on Thursday announced the launch of ‘Digital Gold’, a vertical to allow its 200-million plus users to buy, store and sell gold instantly. Founder and Chief Executive Officer Vijay Shekhar Sharma referred to the new offer as a wealth management product that would be a part of its