A Tech-Powered Revolution in India’s Gold Market
India’s First Gold-Melting ATM Unveiled by Goldsikka in Hyderabad: In a pioneering development, Hyderabad-based fintech company Goldsikka has launched India’s first AI-powered Gold-Melting ATM, reshaping how users interact with and manage gold assets. Building on its earlier innovation of a real-time gold ATM in 2022, this next-generation machine brings together Artificial Intelligence (AI) and Augmented Reality (AR) to offer a fully automated, secure, and user-friendly experience for gold buying, selling, and monetisation. This move signals the digital transformation of the gold market, making it more accessible, transparent, and secure.
What Makes This ATM Unique?
The Gold-Melting ATM does much more than dispense gold. It enables users to buy, sell, exchange, lease, and monetise gold in a matter of minutes. When a customer deposits gold, the machine melts it, tests its purity, and displays the real-time value based on current market rates. Upon user approval, the equivalent amount is transferred directly to their bank account within 30 minutes. The ATM’s AR feature allows customers to virtually try on jewellery before purchasing, enhancing user experience and reducing guesswork.
Integrated Security and Digital Verification
With increasing concerns around fraud in gold transactions, this ATM is equipped with robust AI-based security features. It requires Aadhaar verification, ID proof, and real-time photo capture. The system also includes an inbuilt crime detection mechanism, which automatically flags suspicious activities and can alert the police if needed. This adds a layer of protection and legitimacy to gold transactions, particularly in urban and semi-urban areas.
Scaling Up and Future Vision
Goldsikka has already deployed 14 gold ATMs across India and 3 overseas. With the gold-melting version currently awaiting regulatory approval, the company plans to install 100 new machines in India and another 100 internationally within a year. This aligns with its goal to promote financial inclusion, especially by allowing individuals to digitise personal gold assets, which are often stored unused. The innovation could also set a global precedent for introducing automation in precious metals banking.
Static GK Snapshot for Exams
India’s First Gold-Melting ATM Unveiled by Goldsikka in Hyderabad:
| Topic | Details |
| Introduced By | Goldsikka Pvt. Ltd., Hyderabad |
| Launch Year | 2025 (Gold ATM in 2022) |
| Technology Used | AI, Augmented Reality (AR), Aadhaar-based security |
| Virtual Feature | AR-powered jewellery try-on |
| Security Protocols | ID verification, photo capture, crime alert system |
| Financial Objective | Monetisation and digitisation of gold assets |
| Future Installations | 100 in India, 100 internationally planned |
| Regulatory Status | Awaiting final approval |
