Fintech firms capitalise on digital gold rush this festive season

Firms store physical gold in vaults to back up the accumulated gold stored digitally in a user's account

This festival season, a digital gold rush has descended on the financial technology (fintech) sector, with companies rolling out new ways for users to invest in gold through micro-purchases and even systematic investment plans (SIPs) for regular savings.

 

Major fintech platforms — PhonePe, Paytm, Amazon Pay, MobiKwik, BharatPe, and others — are offering special deals to drive interest in digital gold investments during Diwali. Paytm, for instance, allows users to invest in gold digitally with a minimum entry of just Rs 1.

 

Across platforms, users can set up recurring investments via daily or monthly SIP options, making it easy to