SafeGold vs Augmont vs MMTC-PAMP: who is behind your digital gold

Three companies, three different jobs

They are often listed side by side as “digital gold providers”, but they are not the same kind of business. Two are refiners: they turn imported and recycled metal into bars and coins, and sell digital gold backed by that metal. One is a digital gold platform built on a vaulting and trustee structure. That difference decides who you are relying on if something goes wrong.

Which app uses which company

This is the question most people are really asking. The table lists only apps where the app itself, or the provider, says so in public. Partnerships change, and some apps offer more than one provider, so treat this as a starting point and check the gold terms inside your own app.

Augmont: the refiner that sells to apps

Augmont is a Mumbai bullion house, incorporated in 2012, with refining units in Rudrapur and Mumbai. It sells digital gold under its own Gold For All app and through partner platforms, publishes 24K 999 purity, and lists India Good Delivery, BIS, NABL and RJC credentials for its refinery. Its shares listed at the end of August 2026. The full Augmont profile covers its vault, trustee and partner apps.

SafeGold: the platform built on a trustee

SafeGold is a product of Digital Gold India Private Limited, in which the World Gold Council holds a minority stake. It has powered PhonePe's gold since December 2017. It does not present itself as a refiner: its protection is structural, with metal in a Brink's vault and an independent trustee, Vistra ITCL, holding a charge over customers' gold ahead of other creditors. The full SafeGold profile explains what that means.

MMTC-PAMP: the LBMA refinery

MMTC-PAMP is a joint venture between MMTC Ltd, a Government of India company, and PAMP Ventures SA of the Swiss MKS PAMP Group. Its credit rating agency, ICRA, calls it India's largest gold refiner and the only one with London Bullion Market Association Good Delivery accreditation for both gold and silver. It sells 999.9 gold, and its digital gold sits behind Google Pay and Paytm. The full MMTC-PAMP profile has the numbers.

What actually matters when you compare them

Purity differences here are small: 999 is 99.9% gold, 999.9 is 99.99%. On a 1 gram holding the gap is less than one milligram of gold, and when you sell digital gold you are paid for the weight you hold at that day's rate. What matters more is the structure behind the metal, which is where these three differ most.

• Who holds the metal, and is it named? All three answer this, though Augmont's vault is named by its partners rather than on its own page.
• Who is the trustee, and what can it do? SafeGold states that its trustee holds a charge ahead of other creditors. Ask the others for the equivalent wording.
• What is the spread today? The gap between the buy and sell rate is set by each app, not by the provider alone, and it is the largest cost most buyers pay. How to read it, or see ours today.
• Can you take delivery? Each provider mints coins and bars, but what your app lets you redeem, and at what charge, varies.
• What does the regulator say? None of the three is a SEBI-regulated product. SEBI said so plainly in November 2025. The nine checks apply to every one of them, including the one we use.