te Gold ATM Hyderabad address buy gold coin from dispensing machine | Zee Business

Gold ATM Hyderabad address buy gold coin from dispensing machine

Gold ATM in Hyderabad: The ATM can store 5 kgs of gold. Also, people will have eight options to choose from.

Gold ATM Hyderabad address buy gold coin from dispensing machine
The coins dispensed from the machine are 24-carat gold and 999 certified. Photo credit: ANI

Gold ATM in Hyderabad: In a first, people can now buy gold from automated teller machines (ATMs). The ATM has been installed by Jewellery manufacturer Goldsikkka in collaboration with a startup - OpenCube Technologies Pvt Ltd. These ATMs let people buy gold coins by using their debit or credit cards. 

According to the news agency ANI, the ATM can store 5 kgs of gold. Also, people will have eight options to choose from. "There are eight available options for the quantity of gold starting from 0.5 grams to 100 grams," the report said.

"This is India's first and the world's first real-time Gold ATM," it added.

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Gold ATM Hyderabad Address

 

The firm's first ATM has been installed at its head office in Ashoka Raghupathi Chambers, Begumpet.

The coins dispensed from the machine are 24-carat gold and 999 certified. One of the important features of the ATM is that the price is updated live. The prices, and also the taxes, are updated and displayed on the screen.

"Goldsikka Limited is a company incorporated 4 years back. We are into bullion trading. Our CEO got an innovative concept of dispensing gold coins through an ATM machine. After doing a bit of research, we found out that it is possible. We tied up with a start-up company, OpenCube technologies. They and our in-house department which gave design and development support with respect to technology," the Vice President of Goldsikka Pratap said.

Pratap said that they are planning the next 3-4 machines in Hyderabad at the airport, old city, Ameerpet and Kukatpally. 

"We are focusing on Telangana first as there is already the concept of Bangaru Telangana. We will further move to South India and set up around 3,000 ATMs across the country over a period of time. We are also planning to go global. We will also come up with a version 2 of this machine," he added.

Written By: ZeeBiz WebTeam
Updated: Tue, Dec 06, 2022
12:48 pm
New Delhi, ZeeBiz WebDesk
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