Obtaining a Digital Gold Physical Trader Permit from Bappebti, IndoGold Wants to Improve Investment Experience

Digital gold investment platforms have grown in popularity in Indonesia in recent years, with more and more investors seeking to gain access to the gold market through digital means. These platforms generally offer various advantages over traditional gold investment options, such as convenience, transparency, and accessibility.

One of the current application-based online gold buying and selling platforms is IndoGold. To DailySocial.id, IndoGold Founder & CMO Indra Sjuriah revealed the company's plans for this year, after obtaining a permit from the Commodity Futures Trading Regulatory Agency (Bappebti) as a physical digital gold trader.

Focus on profitability

Gold has long been considered an asset safe-haven which can help protect investors from market volatility and economic uncertainty. In Indonesia, investing in gold has become increasingly popular in recent years, as investors seek to diversify their portfolios and preserve their wealth.

Indonesia is also one of the largest gold producers in the world, with the country's gold reserves estimated at around 3000 tons. Against this backdrop, it is not surprising that the gold platform online increasingly popular in Indonesia in recent years.

IndoGold sees that during the period from 2022 to now, the transaction value and transaction volume of physical digital gold trading transactions will continue to increase, in line with interest in digital gold investment driven by post-pandemic investment awareness. The company also noted that as of early January 2023, the number of their users has now reached more than 1,2 million, including users of digital gold services on partner platforms.

Demographically, the majority of IndoGold users are still based on the island of Java. In 2023, the company will focus on expanding access to gold investment by improving the investment experience for users, feature innovation and sustainable financial and investment education programs both online and offline.

IndoGold also strives to continue to open strategic partnerships, to support increased financial inclusion. The company also has a target to achieve transaction and revenue growth. With the various efforts made, it is hoped that in the near future the company can achieve profitability.

"The hope is that it can contribute positively to business growth and that more Indonesians will use the IndoGold platform to invest in gold digitally," said Indra.

Currently, IndoGold has features that make it easier for users to invest in gold. Starting from the features auto debet so that users can schedule gold purchases automatically, the IndoGold Points program which allows users to earn points which can then be used as discounts on gold purchases to the addition of gold withdrawal options, not only ANTAM and UBS, there are precious metal gold options from the EmasKita and Lotus Archi brands. Users can start investing in digital gold starting from IDR 10 thousand or the equivalent of 0,01 gram.

Apart from IndoGold, platforms and marketplaces that offer digital investment in the form of gold include: Pluang, Treasury, LakuEmas, and Sakumas. These five companies formed the Indonesian Digital Gold Traders Association (PPEDI) or Indonesia Digital Gold Traders Society (IDGTS).

Obtain Bappebti's permission

Despite the many advantages of digital gold investment platforms, there are still some challenges that need to be overcome. For example, there is still a lack of awareness among Indonesian people about the benefits of investing in gold. Additionally, there are concerns about policies and regulations for digital gold investment platforms, particularly around consumer protection and fraud prevention issues.

To be able to provide more trust and service, IndoGold under the auspices of PT Indogold Makmur Sejahtera, has recently received permission from the Commodity Futures Trading Supervisory Agency (Bappebti) as a physical digital gold trader through Decree of the Head of CoFTRA Number 001/BAPPEBTI/P-ED /01/2023.

With this permit, IndoGold can provide gold buying and selling facilities based on the availability of physical gold. With the regulation of digital physical gold trading by CoFTRA, IndoGold has become one of the licensed physical digital gold traders. It is hoped that Indogold can provide a sense of security for the public to invest in digital gold, because there is legal certainty as well as public protection.

"By obtaining a permit as a physical trader of digital gold by Bappebti, IndoGold's mission is further strengthened because it is regulated by an authorized institution. For this reason, we are grateful for the direction given by Bappebti in the process of obtaining a permit as a physical trader of digital gold," said Indra.

From protecting against inflation and diversifying portfolios to providing stable long-term returns and high liquidity, gold can be an attractive investment option for those looking to protect their wealth and build financial security over the long term. Thus, gold investment should be considered as a key component of any well-diversified investment portfolio in the country.

"With condition commodity supercycle, it is projected that the price of gold this year will strengthen as demand for gold commodities rises sharply and physical digital gold trading in Indonesia has promising potential in 2023. Physical digital gold traders are launching retail products that can be reached by all levels of investors with the aim of educating the public to start learning invest logically in licensed digital platforms," ​​said Head of the CoFTRA Commodity Futures Market Development and Development Bureau, Tirta Karma Sanjaya.