Indonesian Tech Giant Gojek’s Digital Wallet GoPay Introduces Gold Investments via GoInvestasi through Partnership with Fintech Pluang

Indonesian tech giant Gojek’s electronic wallet GoPay has introduced a gold-investment feature, GoInvestasi, through a partnership with investment Fintech firm Pluang.

Budi Gandasoebrata, MD at GoPay, noted that the rising demand for making investments via digital wallets had led to GoPay providing the new investment option.

Gandasoebrata said GoPay aims to offer an accessible and transparent investment feature that’s relevant to their customers’ requirements.

Users may sign up with GoInvestasi by using their Gojek-registered phone number. The platform allows people to make investments as small as purchasing 0.01 gram of gold, which only costs about $0.57. The transaction is facilitated with the help of Pluang’s platform, while payment and investment withdrawals are made via GoPay.

GoInvestasi is offered as a GoPay feature, and both can be accessed through the Gojek app.

Customers may save their gold and have the option of exchanging it for PT Aneka Tambang (Antam) certified gold bars.

Gandasoebrata noted that all transactions made via GoInvestasi are monitored by the nation’s Commodity Futures Trading Regulatory Agency (BAPPEBTI). Transactions are also supervised by the PT Kliring Berangkat Indonesia (KBI).

Gandasoebrata added:

“The public’s awareness and willingness to invest has become more apparent and people are drawn to gold investment because it is low risk but still profitable.”

Pluang has acquired $3 million in capital from Go-Ventures, Gojek’s VC division. The funds came as part of the Fintech firm’s Series A round conducted in September 2019.

Many new startups and marketplaces have been launched in Indonesia during the past few years.

In January 2020, Tokopedia, an Indonesia-based e-commerce marketplace, confirmed it was in the final stages of closing an investment round valued at around $1.5 billion from Japan’s Softbank, China’s Alibaba Group and Singapore-based Temasek.

The Tokopedia marketplace, which is notably the largest of its kind in Indonesia, is now on track to become one of the biggest unicorns in the country following its funding round, right behind Gojek, the first Indonesia-headquartered firm to reach a valuation of roughly $10 billion.

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