Partnership · Commerce & Consumer Brands

BlueStone, SafeGold launch gold monetisation service

By Startup Enthusiast · 29 July 2026

What they do

Consumers deposit physical gold at BlueStone stores, which is melted and credited as 24K digital gold on SafeGold

Depositors can lease digital holdings to jewellers, earning about 4% annual yield in gold grams

The service aims to bring 30,000 tonnes of household gold into the manufacturing ecosystem and reduce import reliance

BlueStone and SafeGold have launched a gold-monetisation service.
Consumers can deposit physical jewellery or coins at BlueStone stores.
The deposited gold is assayed, melted, and credited as 24K digital gold on SafeGold.
Depositors can lease their digital holdings to vetted jewellers as working capital.
Depositors earn about 4% annual yield in gold grams from the lease.
The service targets bringing an estimated 30,000 tonnes of unmonetised household gold into the manufacturing ecosystem.
The goal is to supply domestic jewellers with working capital and reduce India's gold import reliance.

Digital gold popularity has increased due to UPI, instant digital payments, and rising gold prices.
SEBI issued an advisory last year stating digital gold is not recognised as securities or regulated as commodity derivatives.
The industry launched a self-regulatory organisation called DPMACI months ago; SafeGold is a member.

BlueStone is a jewellery retailer with physical stores.
SafeGold is a digital gold platform.
The new service allows consumers to deposit physical gold at BlueStone stores.
Deposited gold is converted to 24K digital gold on SafeGold.
Depositors can lease their digital gold to jewellers for working capital.
Depositors earn about 4% annual yield in gold grams.
BlueStone reported Q1 FY27 consolidated PAT of ₹5.9 Cr, down 81% QoQ.
BlueStone reported Q1 FY27 operating revenue of ₹736.8 Cr, up 50% YoY and 8% QoQ.