National News
Grand opening of Joyalukkas Showroom in Jodhpur, Rajasthan
Joyalukkas has expanded its presence with the grand opening of a new showroom in Jodhpur, Rajasthan. The inauguration ceremony was graced by . Vanita Seth, Mayor of Jodhpur Nagar Nigam (South), alongside Joy Alukkas, Chairman and Managing Director of Joyalukkas Group, and Thomas Mathew, Executive Director of Joyalukkas
National News
BlueStone, SafeGold Launch Platform To Convert Idle Gold Into Digital Assets
New initiative enables customers to earn around 4% annual returns in gold grams while supporting gold monetisation and reducing import dependence.
SafeGold has partnered with BlueStone to launch a platform that enables consumers to convert idle physical gold into digital gold, lease it out and earn an annual yield of around 4% in gold grams. The initiative aims to mobilise India’s vast household gold reserves while reducing the country’s dependence on gold imports.
Customers can bring their old gold jewellery or coins to BlueStone stores, where the gold will be assayed, digitised and converted into digital gold through the SafeGold platform. They can then lease their holdings and earn returns in gold grams, allowing their gold holdings to grow irrespective of price movements.
India is estimated to hold nearly 30,000 tonnes of household gold, much of which remains idle. According to SafeGold, bringing even a fraction of this gold into the formal economy can improve capital availability for the jewellery industry while lowering the need for fresh imports.
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