Gold dispensing vending machine arrives in Singapore

In the top 9 vending machines list we did a couple of months back, the gold dispensing ATM-style kiosk was positioned on the third position and there is a very good reason why it managed to feature in the top three. As a concept, gold to go vending machines have become quite popular and though Abu Dhabi’s Emirates Palace was the first in the world to use it, several cities across the world now have these vending machines installed at places like hotels, airports etc. The latest to join the growing list is Singapore that now has its first automated teller machines (ATMs) that dispense gold. Two such ATMs were launched on Wednesday morning at Resorts World Sentosa and Marina Bay Sands.

These gold vending machines are custom built to dispense a variety of pure gold items, ranging from one to ten gram pure gold bars, customised gold coins and even silver ingots. The gold products will have different prices daily, pegged to the day’s global prices. The company behind the machines, Asia Gold ATM, says it intends to launch two or three more machines “in the near future” as it looks for more locations to base the ATMs. The brand is among the top three Swiss refiners and producers of Swiss fine gold in the world. The Suisse Gold products offer 24K 999.9 purity, the finest of pure gold. To increase usability, the SMART Gold ATM provides an integrated platform for credit card and cash payment. Though it’s being touted as the first in Asia, but as we mentioned before Abu Dhabi and Dubai were the first to get gold vending machines in the continent. Even an Indian company installed a gold vending machine in Mumbai a couple of years back.

[Via – Luxury-Insider]

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Sayan Chakravarty, a Senior Writer at Luxurylaunches, brings over 10 years of automotive journalism expertise. He provides insightful coverage of the latest cars and motorcycles across American and European markets, while also highlighting luxury yachts, high-end watches, and gadgets. An authentic automobile aficionado, his commitment shines through in educating readers about the automotive world. When the keyboard rests, Sayan feeds his wanderlust, traversing the world on his motorcycle.