KUALA LUMPUR: TFP Solutions Bhd (TSB) plans to launch its digital gold investment platform, OneGold, in the third quarter of this year, enabling retail investors to invest in digital gold for as little as RM25.
"The rollout of our very own digital gold investment platform, OneGold, will be a game-changer for the OneCALL & OneCENT digital community as it provides an opportunity for our members to invest into a natural hedge against inflation during times of uncertainty," group executive director Puteri Munawarah Syammiyah Munir said.
"With OneGold, our members could invest in gold without concerns over security and storage, and the platform allows members to redeem the digital gold into a minted gold.
"Our members can invest in digital gold from as low as RM25 (around 0.1 gram)," she said in a statement today.
OneGold results from a collaboration between TSB's subsidiary One Gold Sdn Bhd and ACE Capital Growth Sdn Bhd, a subsidiary of ACE Innovate Asia Sdn Bhd, a Malaysian gold bullion importer listed on the LEAP Market.
OneGold is a shariah-compliant digital gold trading platform that supports multiple apps from various organisations and communities.
TSB will integrate OneGold into its OneCALL Settle All app, its own SuperApp, a mobile financial technology (fintech) solution for the underserved and unbanked population.
On top of the ability to tap into gold investment, OneCALL has features that focus on digital service solutions for individuals, enterprise resource planning, human resource management and campus management systems.
With more than 30,000 members on TSB's OneCALL and OneCENT digital community, the potential for the company to scale its operation is huge.
"The beauty of our digital technology, besides the members, can invest themselves, our platform motivates them to promote our services among their friends, family members and business contacts."
OneGold will potentially bring in an additional turnover of RM60 million by the end of 2021.
OneCALL was launched in collaboration with TSB's subsidiary MBP Solutions Sdn Bhd (MSSB) with a mobile virtual network operator (MVNO) Tune Talk Sdn Bhd (Tune Talk).
Riding on Tune Talk's data and voice services, OneCALL offers value-added features such as embedded Wallet that MobilityOne powers, e-wages, e-remittances that OTRemit powers, e-commerce platform, student loan payment, YADIM donation as well as e-ticketing for those in Labuan and Kota Kinabalu, Sabah.
These features are important, especially for those who do not have access to financial services.
TSB estimated that around two million Malaysians do not have a bank account, and there is an outflow of some RM20 billion of remittances via non-banking channels in 2020.
The e-wages and e-remittances services will play a vital role, especially for companies that employ foreign workers.
MSSB executive director Dr Ammar Hassan said
OneCALL also has features that encourage entrepreneurship.
"Our entrepreneur platform provides training and tools to participants to generate alternative sources of income.
"Our entrepreneur platform is available for school leavers, graduates, the unemployed and those involved in the gig economy," he said.
Dr Ammar also noted that there would also be an e-commerce feature available for mini and micro-merchants, which encourage those in the underserved segments to tap on the potential of the digital economy.
Delivery and rider functions will also be available to assist aspiring entrepreneurs, he said.
"Currently are working with a few non-government organisations (NGO), we expect to bring in about 40,000 e-entrepreneurs, which might contribute roughly RM15 million to our 2021's bottom line," he said.
The digital canteen food order system for schools provides convenience for working parents and safety for schools and canteen operators in the post-pandemic era.
"The integration of OneGold into the existing features in OneCALL and OneCENT will cement our leading position as the innovative mobile fintech provider in the market," he said.