Mobile payment and commerce platform Paytm on Thursday announced that it has collaborated with MMTC-PAMP to launch digital gold, which will enable its customers to buy gold online and store it in MMTC-PAMPs secure vaults free of charge.

The customers can also request for their gold to be delivered home in the form of minted coins or sell it back online instantly, a company statement said here.

“Gold is the preferred form of investment for Indians, and we are making it easier for our users to invest in gold digitally. With this product, our customers can buy and sell international quality gold at market-linked prices instantly. The goal is to offer complete flexibility in deciding the amount they want to invest, and enable consumers to develop habit of saving regularly in digital gold for long-term wealth creation,” said Vijay Shekhar Sharma, founder and CEO, Paytm.

“As India’s first and only internationally accredited gold and silver refinery, we are proud to be placing India in its deserved leadership position in the global bullion market. Our partnership with Paytm provides every Indian access to high quality, 24k 999.9 pure gold in a convenient and transparent manner,” said Mehdi Barkhordar, chairman at MMTC-PAMP India.

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