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OGold reaches 2 million users in UAE digital gold platform
The fintech app doubled its user base in six months with purchases starting from Dh1.
OGold, a UAE-based app for digital gold and silver ownership, reached 2 million users, doubling its user base in six months. The platform allows purchases starting from Dh1 and provides 24/7 access to buy, sell, save and redeem physically backed gold and silver. The company disclosed the milestone on 27 January 2025. The app operates under a Shariah-compliant framework.
Earnings and holdings structure#
Users can earn up to 5 percent annually on eligible gold and silver holdings. Under that structure, 100 grams of eligible gold could generate up to 5 additional grams per year. The platform stores holdings in vaults and offers redemption for physical bars and coins from SAM Precious Metals, Emirates Gold and PAMP. Customers can choose physical delivery or in-person collection. The app provides both gold and silver holdings, with the same 5 percent annual earning rate applying to both metals.
Insurance and card access#
OGold provides company-level and individual-level insurance protection for customer holdings. The OGold Platinum Mastercard, available in physical and virtual formats, connects to the value of users' gold and silver holdings. The card is issued in partnership with Mastercard and NymCard. Users can access the value of their holdings through the card, which connects traditional precious metals ownership with payment technology. The virtual format provides immediate access, while the physical card offers in-person payment options.
Platform partnerships and founder statement#
The company's partnerships include Botim, Valura.ai, Mawarid Finance, Mastercard, NymCard and MoneyHash. Bandar Alothman, founder of OGold, stated the milestone validates the platform's vision of making gold and silver accessible for everyday financial use. The platform allows users to buy and sell precious metals with 24/7 access through a single digital interface. Purchases can be made starting from Dh1, with no minimum holding period disclosed. The company did not disclose transaction volumes or total value of holdings on the platform.
Sources1 source across 1 domain
- gulfnews.comGulf NewsOGold reached 2 million users, doubling its base in six months, with purchases from Dh1, 5 percent annual earnings on eligible holdings, insurance protection, redemption options from named brands, and partnerships with Botim, Valura.ai, Mawarid Finance, Mastercard, NymCard and MoneyHash
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