Collaborating with Pluang, Funds Add Gold Investment Features in Applications

Dana is the next electronic money player to release a digital gold investment feature in its application with the Dana eMas feature. Pluang is a provider partner for the feature -- previously partnered with Gojek to release GoInvest.

Written in his official statement, the pandemic has created uncertainty in the capital and financial markets which caused high-risk investment assets to collapse. The investors then rearrange their investment portfolios by placing their money in instruments safe-haven, one of which is gold.

Historically, world gold prices have continued to climb and continue to set new records. In the local market, Antam's gold price so far this year (year-to-date) increased by more than 30%.

"In the midst of uncertainty due to the Covid-19 pandemic, we see people starting to reduce unnecessary spending and choosing to invest long-term by buying gold. Through the Dana eMas feature in the Dana application, users can now easily start investing in gold online,” said Dana Co-Founder and CEO. Vincent Iswara, Friday (7/8).

This feature, continued Vincent, is intended for Premium Fund account owners. To start buying gold, users can choose from 0,01 grams or less than IDR 10 thousand directly at no cost. In addition to buying and selling gold transactions, users can buy gold with an installment program from 3-24 months.

Pluang Co-Founder Claudia Kolonas said that both companies believe that the key to empowerment is to create products that are less intimidating and build confidence that good financial products can be enjoyed by everyone, not just a few.

“[..] Everyone has the right to have savings for a brighter future. Pluang's collaboration with Dana to launch Dana eMas aims to help us fulfill this vision and mission," said Claudia.

It should be noted that this feature does not provide physical gold when withdrawing or selling from the portfolio of Fund users. However, Pluang ensures that this investment is safe because the company is under PT PG Berjangka which has been registered with the Commodity Futures Trading Supervisory Agency (CoFTRA).

The customer's gold is fully deposited and guaranteed by the Indonesian Futures Clearing House (KBI). "That way, all transactions that occur are not only recorded in the application, but also recorded in the authorized government agency and physical gold is stored and guaranteed by KBI whose status is BUMN," said Vincent.

Most players

Gold is one of the oldest commodities in the world and an investment safe haven. A number of these advantages ultimately make the prestige of gold investment relatively high and familiar to the ears of Indonesians. Therefore, gold investment is often the initial gate to attract new investors to jump into other investment instruments.

Meanwhile, applications that so far only provide gold investments besides Pluang, there are Tamasia, E-mas, Lakuemas, IndoGold, Treasury, and Pegadaian. All of these players offer the convenience of buying and selling gold digitally. The player was finally hooked by other digital players. For example, there are Bareksa, Tanamduit, Tokopedia, Bukalapak, and Gojek.

Thanks to this partnership, the total contribution of gold purchases online reached 10% of transactions nationally. His contribution was also fueled by the impact of the pandemic, according to a report from The Ken.