KARACHI: Pakistani fintech ABHI announced on Tuesday that it has signed a partnership agreement with a UAE-based platform to promote fractionalized digital gold investment for its users in the Gulf nation.
ABHI said that the partnership will enable its users to buy, sell, and hold fractional ownership of physically backed gold through JustGold, a digital gold platform based in the UAE.
The Pakistani fintech said the move would allow users to invest in fractional amounts of gold, allowing them to start with smaller contributions instead of large, expensive ones.
“Through our partnership with JustGold, we are making gold investment more accessible, transparent, and inclusive for our users in the UAE,” ABHI CEO and Co-founder Omair Ansari said in a press release.
Zubair Baig, JustGold founder and CEO, noted that gold has been the UAE’s preferred store of value for generations, yet its ownership has remained fragmented as gold is expensive and often inaccessible for everyday investors.
“Our vision at JustGold is to make gold ownership as simple, transparent, and accessible as holding money in a bank account,” Baig said.
ABHI said the service is expected to be rolled out to its users in the UAE “in the coming months.”
Founded in Pakistan in 2021, ABHI specializes in offering earned wage access services. This allows salaried employees to withdraw a portion of their wages before payday through employer-linked digital platforms.
The platform offers services across Pakistan, the UAE, Saudi Arabia and Oman. The fintech says it has over 1 million users and more than 7,000 business partners.
Leave a comment