With Goldtag, even a 1-lira investment in record-rallying gold is possible

Dünya Gazetesi featured Goldtag in its story on record-breaking gold prices and the digitalization of precious-metal investment. According to the report, Goldtag — which provides the precious-metal trading infrastructure behind Turkey’s largest payment platforms — lets users invest in gold through its own app with amounts as small as 1 lira. The company’s growth, which also drew the attention of institutional investors, culminated in a $10M funding round.

With gold prices at record levels on global markets, growing expectations that the US Federal Reserve will cut rates are lending further support to prices. Goldman Sachs’ assessment that gold could climb to around $5,000 an ounce if the Fed’s independence were undermined has turned both institutional and individual investors’ eyes to the metal.

Payment platforms that enable silver and platinum as well as gold to be bought and sold digitally let individual investors in particular act immediately on live market developments.

Goldtag offers this transaction infrastructure integrated into Paycell, MoneyPay, Hepsipay, Papara, AhlPay and PeP. Its own app gives access to the best prices outside business hours too: users can convert their gold at the current rate and transfer the TL equivalent to their own bank account 24/7. If they prefer, they can keep saving in different units — quarter, half, full and gram.

Goldtag Co-Founder and CEO Dolunay Sabuncuoğlu highlighted the social side of the app:

“We are turning financial access into a simple, secure and social experience. In Goldtag’s mobile app, alongside buying and selling precious metals, our users can create digital events such as weddings, birthdays or a ‘gold day’ and collect valuable contributions like gold from their friends.”

At Goldtag, Turkey’s largest digital precious-metal platform, 2.2 million active users were carrying out more than 1 million transactions a month as of the story’s publication.

Raised $10M in funding

Blockchain-based digital asset developer Goldtag is preparing to digitalize investment in different asset classes with the $10M it raised in a round led by RePie Portföy, joined by Turkcell, Colendi, Finberg and Inveo Portföy.

Sabuncuoğlu described where the investment will take the company:

“With this investment we will bring our tokenization infrastructure online and expand access to alternative assets in a scalable, regulation-compliant way. Going beyond precious metals, we aim to also give our users access to alternative investment products such as agricultural commodities (wheat, barley, corn), energy products (oil, natural gas, electricity), metals (copper, aluminum, iron) and solar power plants.”

Gold and precious-metal vending machines on the way

Goldtag, which is working on an experience that will let users physically withdraw the precious metals they own digitally, is designing the special machines developed for this project together with Turkey’s leading engineering firms.

Source: Dünya