Pegadaian assures customers of adequate supply of physical gold
Pegadaian’s gold is backed on a one-to-one basis. Customers who buy 100 grams, 200 grams, or any amount, have their physical gold available at Pegadaian.
Jakarta (ANTARA) - PT Pegadaian has confirmed that all digital gold investment products are backed by physical gold at a one-to-one ratio stored in the company’s vaults, ensuring adequate supply and that customers need not worry.
Yos Iman Jaya Dappu, the Director of Information Technology and Digital at PT Pegadaian, explained that before customers buy gold through the Tring! app, Pegadaian first prepares and deposits physical gold. Consequently, every purchase is backed by real gold availability.
“This meets two things. First, in terms of security. Second, in terms of the Shariah concept. The physical gold already exists,” he said at the PRIMA Talkshow in Jakarta on Thursday.
Yos cited that if a customer buys 100 grams of gold, Pegadaian has already secured that amount of gold in advance.
This step is taken to avoid price change risks that could harm customers if the physical purchase were made after the customer’s transaction.
He explained that the gold Pegadaian stores is generally in the form of large bars, for example one kilogram.
Within one bar there is a portion of ownership corresponding to the customer’s balance of gold owned. Therefore, it is clear, the process of minting physical gold from the digital balance takes time.
To meet customer needs, Pegadaian provides a Gold ATM facility that enables customers to print physical gold from their digital gold balance.
The availability of this facility is expected to strengthen customer confidence by demonstrating that the digital gold balance truly is backed by physical gold.
In addition, Yos also confirmed that all gold managed has a fineness of 24 karat. Regulatively, Pegadaian is one of two institutions in Indonesia that has government approval to operate a bullion bank.
Through the bullion bank, Pegadaian offers four main products, namely gold trading, gold deposits, gold-based working capital loans, and gold custody services for corporations.
This commitment is continually reinforced by the company as the operator of PRIMA Network switching services.
As part of expanding Pegadaian’s digital investment services to the public, PT Rintis Sejahtera plays a role in integrating these services into the PRIMA Network ecosystem, which includes banks and non-bank institutions.
This integration enables people to transact more easily and seamlessly, including topping up gold savings.
In line with strengthening a safe and reliable digital transaction ecosystem, PT Rintis Sejahtera also provides a fraud detection system, PRDS (Potential Risk Detection System), which helps Pegadaian identify unusual transactions that could potentially constitute fraud.