Hyderabad: This Automated Teller Machine (ATM) is different. Not cash, but this one dispenses gold coins.

Goldsikka with technology support from Hyderabad-based startup, Opencube Technologies has launched its first Gold ATM at Begumpet and described it India’s first Gold ATM and world’s first Real Time Gold ATM.

This ATM can dispense gold coins in different denominations ranging from 0.5 gm to 100 grams and according to Sy Taruj, CEO of Goldsikka, customers can use their debit or credit card to buy gold coins of different denominations. “The prices are displayed live on the screen making it transparent and clear for the customers and the coins are dispensed in tamper proof packs certified with 999 purity,” he said.

The company plans to launch three machines in the Hyderabad at the airport, old city and propose to launch them in Karimnagar and Warangal also. Taruj said plans were being drawn to launch 3,000 machines all over India in coming two years.

Telangana Women’s Commission chairperson, Sunitha Lakshma Reddy participated in the launch programme which was also attended by Ambika Burman, Goldsikka Chairperson, P. Vinod Kumar, CEO, Opencube Technologies and M Srinivas Rao, T-Hub CEO.