Bukalapak confirmed that it has not been partnering directly with PT Antam for its gold-based investment product
Indonesian e-commerce startup Bukalapak confirmed that its recently launched BukaEmas product has not set up a partnership with state-owned mining company Antam, which produces and certified gold bars.
However, the startup declined to give further comments on whether there is a possibility for them to partner with Antam in the future for this investment product.
Previously, as quoted by Kompas, Antam President Director Arie Prabowo Ariotedjo said that the firm has “discovered” Antam-certified gold bars on Bukalapak.
Ariotedjo said that the gold bars sold on the platform do have PT Antam stamp and certification, but he stated that BukaEmas does not partner with the firm.
“[There is a partnership] but it was not with PT Antam. We have forwarded our complaints to related parties about this matter,” Ariotedjo stated.
The president director also mentioned that PT Antam is currently looking into the possibilities to sell their gold bars online.
Bukalapak teams up with IndoGold
Bukalapak CEO Achmad Zaky explained to DailySocial that BukaEmas was launched through a partnership with PT Sinar Rezeki Handal, which manages gold trading company IndoGold.
Zaky admitted that there has been a misunderstanding that makes it seem like Bukalapak is working directly with PT Antam.
The system that is implemented in BukaEmas is similar to what IndoGold has implemented. Customers are able to “save” and pay for gold installment with affordable price, starting from IDR3,000 (US$0.22), and there is no need for them to purchase it intact in physical form, with one gram multiplication scheme.
Once the accumulated gold purchase has reached 0.5 gram, customers may apply to have the product delivered in physical form.
BukaEmas is the second investment service that Bukalapak has developed, following BukaReksa.
Three months after its launch, the feature that aims to ease mutual bonds purchase has managed to secure 30,000 customers.
Both services are using BukaDompet as its e-wallet service, and can only be accessed through desktop at the moment.
Image Credit: DailySocial
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