Revolutionary Gold ATM Launches in Shanghai

China has introduced a groundbreaking gold ATM in Shanghai, designed to melt gold items, verify their authenticity and mass, and transfer the equivalent cash value to users' accounts within a mere 30 minutes, all without the need for documentation. This innovation by the Shenzhen-based Kinghood Group is capturing attention as global gold prices soar.

Why Now?

With gold prices reaching new heights, the public's interest in converting gold into cash has surged. Xu Weixin of the Shanghai Gold Association highlights the growing demand, fueled by both individual and institutional investments in gold as a safe haven during economic uncertainties.

How It Works

The gold ATM accepts items weighing more than 3 grams with at least 50% purity. It melts the gold at 1,200°C, tests its purity, calculates the value based on current Shanghai exchange rates, deducts a service fee, and transfers the remaining amount directly to the user's bank account—all in 30 minutes.

Global Reaction

After Turkish tech influencer Tansu Yegen shared a video of the ATM on X, it went viral, amassing over 1.4 million views. Tech commentator Advait Arora praised the blend of traditional value with modern technology, sparking a global conversation about the future of financial transactions.

"Gold > paper. The future is ancient," remarked one social media user, encapsulating the fascination and admiration for this innovative service.