China has deployed an innovative gold ATM in Shanghai, which processes gold items by verifying their authenticity and mass, before transferring the related value to the accounts of users within 30 minutes.
This advancement made by the Shenzhen-based Kinghead Group has achieved traction at a time when global gold prices are skyrocketing. Local residents and visitors are making queues for immediate payment to exchange their traditional jewelery and gold pieces, the report states.
Market mobility
Increased interest coincides with the status of gold as a safe shelter property during global economic uncertainty. Ju Waxin of Shanghai Gold Association allegedly stated that “with rising gold prices, the desire to get out of the public has increased significantly.” Institutional and central bank acquisition has promoted demand, China’s gold ATMs provide efficient public access to this market.
Operating details
The device processes gold items above 3 grams above 3 grams with minimal purity, converts them into cash value based on current Shanghai exchange rates, cuts service fees, and transfer funds to bank accounts within 30 minutes.
Specifications:
- Accepts: Gold jewelery, coins, or bullion (> 3 grams,> 50% purity)
- Analysis: Melting at 1,200 ° C with sensor-based purity test
- Pricing: Based on Shanghai gold exchange rates
- Payment: Direct Bank Transfer Minus fees
- Duration: 30 minutes completion
Penetrated neat
Tansu Yagen, who affected Turkish tech, attracted the ATMs worldwide after sharing a video on X, which received more than 1.4 million times.
Tech commentator Advaita Arora said, “Wow, a gold ATM that melts your gold and sends money directly to your bank. That is why China innovates.”
Innovation discussed widespread online, created praise and interest. Users praised the combination of traditional values with modern technology, while some expressed the desire for equal services in their countries. “This is not the future – this is now happening,” said an X user.
“Gold> Paper. The future is ancient,” Another social media user shared the ATM video.
