Digital gold platforms form DPMACI as self-regulatory body amid SEBI scrutiny
PhonePe, BharatPe, MobiKwik, CRED, Gullak and others have launched DPMACI, a self-regulatory organisation mandating 1:1 physical gold backing, third-party audits and an ombudsman framework. Move comes as SEBI flags the segment's regulatory grey area, with 90% of transactions running on UPI and ₹10 minimum tickets driving mass adoption.
India's digital gold platforms including PhonePe, BharatPe, MobiKwik, CRED and Gullak have formed a self-regulatory body, DPMACI, mandating 1:1 physical gold backing, third-party audits and an ombudsman framework amid SEBI's regulatory grey-area concerns.