Shanghai Gold ATM Network Expands to 100 Cities

Shanghai has launched a pioneering gold ATM, developed by Kinghood Group, which melts, weighs, and analyzes gold items—including jewelry, coins, or bullion—then transfers their real-time market value directly to a user's bank account within 30 minutes, requiring no paperwork. The machine accepts items over three grams and at least 50% purity, bases payouts on the Shanghai Gold Exchange price, and deducts a small service fee. The ATM has become a sensation, with long queues and fully booked appointments as residents capitalize on soaring gold prices amid economic uncertainty. The innovation has received significant attention both within China and internationally, praised for its integration of traditional assets with advanced fintech. Experts note the ATM reflects a broader trend toward digitized, transparent asset management and increased gold recycling as public and institutional holdings rise. Kinghood’s smart ATM network has now expanded to nearly 100 cities, indicating strong demand for this technology.