The idea of finance has changed since the emergence of FinTech. In fact, FinTech is quickly becoming an integral part of our financial ecosystem, pushing traditional sectors to reconsider new business models. The perception of gold is evolving with new-age gold business models foraying into the market.
India is the world’s second-largest bullion customer of gold. Indian households may have accumulated up to 25,000 tonnes of gold, thereby retaining the tag of the world’s largest holders of the precious metal, according to the World Gold Council. Traditionally, gold has served as collateral in India’s informal lending market; technology is pivoting it into a debt investment model in the organized lending market.
FinTech-Backed Gold Business Models
The global expansion of FinTech is causing a shift to the formal credit system. This shift has helpe …