FinTech Paysera LT starts physical gold trading

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Lithuania-based Paysera has announced that it has started trading physical gold. The company will be trading in actual bars and coins rather than units of precious metal sold on the exchanges. Paysera LT stated that buyers would be able to store their gold, purchased via the app, at the company’s storage facilities, order home delivery or pick it up at the company HQ.

“Precious metals maintain their value and popularity even during an economic downturn. No wonder central banks hold gold in their reserves. Since the price of gold, by taking into account inflation, remains more or less the same in the long run, gold, in general, is considered a safe haven in turbulent times and a safeguard against monetary depreciation. Thus, the bars and coins sold by us are first of all intended for people who want to preserve their purchasing power in the long run,” said Vytenis Morkūnas, CEO of Paysera LT.

Paysera stated that buyers will be able to either store the purchased gold at the company’s storage facilities, or to pick it up and store it themselves. Gold purchased via the app may be sent as a gift to another user of the app.

Paysera is Lithuanian capital FinTech headquartered in Vilnius. Its network companies also operate in Latvia, Estonia, Bulgaria, Romania and Kosovo. Founded in 2004, the company is a payment processor and the first electronic money institution (EMI) in Lithuania.