Goldsikka with technical assistance from the city’s start-up Opencube Technologies, launched the first Gold ATM in Begumpet.
Hyderabad: This automated teller machine (ATM) is different. No cash, but this dispenses gold coins.
With technical support from Hyderabad-based startup Opencube Technologies, Goldsikka launched its first Gold ATM in Begumpet, calling it India’s first Gold ATM and the world’s first real-time Gold ATM.
The ATM can dispense gold coins of various denominations ranging from 0.5 grams to 100 grams, and according to Goldsikka CEO Sy Taruj, customers can use their debit or credit cards to dispense various coins. You can buy gold coins of seeds. “Prices will be displayed live on screen, transparent and clear to customers, and coins will be issued in tamper-proof packs certified to 999 purity,” he said.
The company said they plan to launch three machines in Hyderabad Airport, Karimnagar and Warangal as well. Taruj said he plans to roll out 3,000 machines across India over the next two years.
Sunisa Lakshma Reddy, Chairman of the Telangana Women’s Commission, attended the launch program, she was the Chairman of Goldsikka, Ambika Burman, P. Vinod Kumar, CEO of Open cube Technologies, M Srinivas, CEO of T-Hub Rao was also present.