Trading platform Dhan on Wednesday (April 29) introduced ‘Gold Vault’, which the company said is a first-of-its-kind offering that enables individuals to purchase bullion by participating in contracts on the Multi Commodity Exchange of India (MCX).
The transactions are routed through the exchange ecosystem, with clearing and settlement handled by MCX Clearing Corporation Limited (MCXCCL).
The product allows investors to take exposure to gold and silver futures and subsequently opt for physical settlement, with holdings stored in exchange-regulated vaults. Investors can also request delivery of the bullion.
The company said the offering operates within the regulatory ambit of the Securities and Exchange Board of India (SEBI), with prices benchmarked to exchange rates.
“Gold has always been a trusted store of value for Indian households, but digital ownership has largely remained outside regulatory purview,” said Pravin Jadhav, Founder and CEO of Dhan. “The model is built on exchange settlement, regulated vaulting and aims to reduce counterparty risks in gold ownership.”
Jay Prakash Gupta, Co-founder and COO, said the platform routes purchases through MCX futures settlement and MCXCCL clearing, adding that the approach seeks to address structural risks associated with some digital gold products.
From the exchange side, Praveena Rai, Managing Director and CEO of MCX, said the initiative expands access to existing infrastructure. “By combining exchange-led price discovery with regulated settlement and vaulting, investors can access gold investments with greater transparency and security,” she said.
The launch comes as gold continues to remain a widely preferred asset class in India, with newer platforms attempting to offer alternatives that combine price transparency with storage and delivery options.
