Business Economy


Nihar Info Global commences commercial operations of GoldnSilver.shop

Hyderabad, Nov 14 (UNI) Nihar Info Global Limited, a publicly listed Indian information technology and e-commerce company, on Saturday said that it has commenced commercial transactions through its proprietary precious metals platform GoldnSilver.shop following its soft launch on November 8, coinciding with Diwali.
The platform offers physical gold and silver coins, gifting products and digital gold under the proposition 'One Platform. Every Way to Own Gold & Silver', Hyderabad based company said in a release.
Nihar Info Global Chairman B S N Suryanarayana said transactions had commenced in physical gold and silver products and digital gold, with the latter integrated through SafeGold.
Customer onboarding has been integrated with DigiLocker, payments with Cashfree and logistics and delivery with Sequel Logistics. Initial transactions on Diwali were completed without technical issues, he said.
He said its GoldnSilver.shop-branded silver coins had received onboarding acceptance on Flipkart, expanding the brand's marketplace presence. The brand is also being developed as a proprietary platform for gold and silver coins and gifting products.
To expand its digital precious metals offerings, Nihar Info Global has signed agreements with Augmont and MMTC-PAMP. However, technical integration of these partnerships and the launch of digital silver transactions are still in progress.
The company is also working on integrating gold and silver exchange-traded funds (ETFs) through Zerodha, with the process in its final stages. Gold loan referral services and gold buyback facilities are among the other proposed segments of the platform.
The company's proposed five-segment business model covers physical gold and silver, digital precious metals, ETFs, gold loan referrals and gold buyback services.
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