Digital Gold Platform SafeGold’s Partnership With Jar Enabled Investments to Rise From 36 to 17K Per Day

SafeGold, a leading Asian digital platform accelerating the digital gold ecosystem in India, post its partnership with Jar, a daily gold savings app that lets you save money has boosted the daily transactions by about 99%. In April-May 2021, the average number of transactions per day on the app was 36, which then picked up significantly to 24k by November 2021, and is now averaging over 170k transactions per day.

India has a population of 130 crores out of which 9 crore people have a Demat account. However, only 3 crore people have made an investment above 10,000 rupees. This data clearly suggests that the investment market has created an echo chamber wherein a minor section of the society actually invests. In this sense, the term affordability is closed off for only the top layer of the educated segment. This has created a huge gap between rupee-earned and invested, especially in terms of the time taken for the average new investor to start saving.

Gold, as a commodity, has always been regarded with high respect, especially as an asset. However, it was always bought as jewellery for consumption. Bars and coins have increased their share in annual consumer demand from less than 15% to nearly 25%. Clearly, Indians are increasingly looking at gold as an investment rather than just for consumption. With players like Jar and SafeGold coming up, they are accelerating the adoption of alternative investment options outside of the traditional discourse.

Gaurav Mathur, Founder & MD, SafeGold, said “India is a nation filled with possibilities and potential. There is a need for startups with a creative outlook to bridge this gap. As SafeGold, we are making strides towards enabling digital-first investors who are interested in alternative investment commodities”.

Nishchay Ag, Co-Founder & CEO at Jar, said “When it comes to making smart financial investments, most Indians do have the inclination but lack the information on the right catalyst that will help mobilise their resources in the best way possible. Our partnership with SafeGold has helped our universe of customers to invest without any hassle. With this, we hope to inculcate smart investment habits for our new age-digital-first investors at low friction entry points”.





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