Axis Bank to discontinue payments for Digital Gold products via its platform

Axis Bank has announced that it will discontinue payment services for the purchase of Digital Gold offered through SafeGold, marking a phased withdrawal from its digital gold offering by the end of 2025.

In a communication sent to customers, the bank said all services related to Digital Gold, including purchase, sale, redemption, and home-delivery, will be wound down in stages across its Internet Banking and Mobile Banking platforms. The process will culminate in full cessation on 31 December 2025.

Under the transition plan, purchases of Digital Gold via Axis Bank’s platforms will stop from 30 November 2025, and any active SIPs for Digital Gold will also be halted from that date. Customers wishing to continue buying Digital Gold have been advised to transact directly through the SafeGold mobile app or website. Existing holdings will require migration to the SafeGold Wallet to remain accessible.

Axis Bank described the move as part of its broader effort to “streamline product offerings” across its digital channels. The bank did not comment on whether the discontinuation is connected to any regulatory developments.

While there is no indication that Axis Bank’s decision is linked to recent regulatory commentary, the development comes at a time when the Securities and Exchange Board of India (SEBI) has separately issued public advisories regarding digital gold products available through various online platforms.

In its notices, SEBI warned that many Digital Gold / E-Gold offerings fall outside its regulatory purview. The regulator clarified that such products are neither recognised as securities nor regulated as commodity derivatives, meaning SEBI’s usual investor-protection framework does not apply. The advisories highlighted potential risks around counterparty reliability, storage practices, and redemption mechanisms on unregulated platforms.

For Axis Bank customers, the key implications are clear:

• Digital Gold purchases through Axis Bank will end on 30 November 2025.


• All SIPs will be automatically stopped.


• Transactions going forward must be done on SafeGold’s own platform.


• Existing holdings need to be migrated to the SafeGold Wallet to remain operable.