SINGAPORE – Singapore 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.
The custom-built machines will dispense a variety of pure gold items that produced by top Swiss refiner, PAMP.
The gold products – available in a variety of sizes from one to ten grams – will have different prices daily, pegged to the day’s global prices.
On the day of the launch, a one gram pendant cost $100 while a ten gram one cost $660.
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.
It also touted its ATMs as Asia’s first.