Mumbai, Feb 17: Spare8 Platforms Private Limited (“Spare8”) today announced the signing of a Memorandum of Understanding (MoU) with Thailand-based Quantum X Aurum Group (“QXA”) to develop a cross-border gold financial platform connecting Asia and the Middle East.
The partnership brings together QXA’s access to gold sourcing and minting networks with Spare8’s extensive digital gold ecosystem in India, including its large customer base, jeweller partnerships and operational gold leasing platform. The companies are establishing operational anchors across India, Thailand and Dubai — key corridors in the global gold trade.
Building A Cross-Border Gold Financial Ecosystem
The venture aims to create an integrated system linking gold sourcing, processing and financial usage. The platform is designed to simplify how gold is owned, financed and transacted across borders, backed by physical gold aligned with international standards.
Key components of the platform include:
- Mining & Minting Access: Coordinated supply chain management from production to end market.
- Gold Mining Devices: Structured programs connecting customers to gold output streams.
- Visa Gold-Backed Credit Card: Enabling customers to spend against gold holdings via global payment networks.
- Global Gold Leasing: Supporting productive use of gold through jeweller networks.
- Structured Revenue Streams: Income channels across issuance, custody, transactions and spreads.
India As The Demand Engine
Spare8 is positioned as the demand and distribution engine of the partnership, leveraging:
- 1.6 million users
- Digital onboarding and payment capabilities
- A nationwide jeweller redemption network
- A live gold leasing platform
This infrastructure provides immediate access to India’s robust gold consumption ecosystem, strengthening the platform’s cross-border scalability.
Capital Strategy And Growth Plans
To accelerate expansion, the companies are preparing for an asset-backed capital raise of USD $10–15 million, with the ability to scale as institutional participation increases. The funding strategy is structured to support growth through tangible asset backing while positioning the venture for access to larger global capital pools over time.
Commenting on the partnership, Ronit Harisingani, Co-Founder and CEO of Spare8, said:
“Gold is one of the world’s most trusted assets. What has been missing is modern infrastructure that connects supply, ownership and everyday financial use. This partnership brings those pieces together at scale.”
Long-Term Vision
The platform is being structured as an international operation from inception, designed to align with global institutional standards as it grows. Over time, the venture aims to position itself for participation in major capital markets, establishing a scalable and compliant cross-border gold financial ecosystem.
With this MoU, Spare8 and Quantum X Aurum Group take a significant step toward redefining how gold functions in modern finance — bridging traditional asset trust with digital infrastructure across Asia and the Middle East.
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