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Fintech companies target millennials for gold investment
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Treasury app has teamed up with online financial planner Finansialku.com to promote investments in gold among millennials. (Shutterstock/File)
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ewly established app-based gold trading company Treasury has teamed up with online financial planner Finansialku.com to promote investments in gold among millennials to help them prepare for emergency situations.
Treasury brand development head Narantara Sitepu said both companies would jointly hold a roadshow in several cities in Java and Sulawesi in the second quarter of this year in an effort to explain the importance of "emergency funds" among millennials.
He added that some people have ignored the need to save money in preparation for emergency situations because they tended to adopt consumptive behavior due to a lack of financial literacy.
"Treasury will facilitate easy access to gold as an instrument of investment and Financialku.com will provide access to financial knowledge," Narantara said.
Financialku.com founder and CEO Melvin Mumpuni said his company would integrate Treasury's services into its application by the third quarter of this year to provide its users with investment options.
Melvin added that gold was a good investment option as it would hedge inflation. Unlike other instruments, such as time deposits, which would require some time before the depositors could withdraw their money, collectors could easily convert their gold to cash at pawnshops during emergency situations.
"With digital-based gold trading, it will be easier for people to invest in gold," he said. “I may not recommend gold for a long-term investment, but it is a recommended instrument for obtaining emergency funds.”
