Latest News | MMTC-PAMP Launches Digital Silver

New Delhi, Feb 9 (PTI) MMTC-PAMP, a joint venture between state-owned MMTC Ltd and Switzerland-based bullion brand PAMP SA, on Thursday announced the launch of digital silver.

The digital silver can be purchased for as low as Re 1. Investors have the choice of retaining the purchase within MMTC-PAMP's secure digital vault or redeem it later, the company said in a statement.

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This digital asset provides all the benefits of silver, with added benefits of transparency, 24/7 accessibility, assured purity and low entry point to silver investments with no making charges involved, it added.

MMTC-PAMP Managing Director Vikas Singh said the company is already a leader in digital gold.

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"We are democratising the way Indians buy gold and silver breaking down barriers, empowering all. Our digital multi-metals platform enables investment for everyone, with the ability to buy the purest precious metals with any amount," he said.

On the company's platform, investors can also buy digital gold and later redeem it for silver coins, and vice-versa, he added.

MMTC-PAMP said the increasing demand for silver in various industries such as electronics and medical equipment is driving up prices and making it a valuable investment opportunity.

Moreover, silver is a proven hedge against inflation, which makes it an attractive investment option during times of economic uncertainty. This precious metal is a critical component in many sustainable technologies, such as solar panels and electric vehicles.

As the world moves towards a greener future, silver is likely to become even more valuable, it added.

MMTC-PAMP is the first Indian gold and silver refiner to get international accreditation from the London Bullion Market Association.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)