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uab bank launches Myanmar's First Digital Gold Investment Platform on uabpay with Shwe Bon Thar Gold Shop Group

Yangon, 29th March 2023 – uab bank recognised as Myanmar’s Best Bank 2022 by Euromoney and Best Bank 2023 by Global Finance today announced the official launch of Myanmar’s first-ever Digital Gold Investment Platform on uabpay, its digital app.

The Gold Investment Platform allows users of uabpay to conveniently buy, sell and invest in gold through the app. Users may also buy and sell gold online in quantities starting from only one (1) Yway, allowing small investors in Myanmar to now have access easily to gold investments whilst also making payments conveniently through the uabpay wallet.

This initiative is made in partnership with Shwe Bon Thar Gold Shop Group (SBT) which is one of largest gold bullion dealers in Myanmar. SBT will ensure that all purchases made though uabpay will be backed by physical gold and for amounts of one (1) tical and above, physical gold may be redeemed at any SBT gold shops, subject to its terms and conditions.

Christopher Loh, MD & CEO of uab bank said, “We are thrilled with this partnership to bring gold investment to the masses, making it accessible with just 1 Yway. We shared SBT’s belief that saving and investment in gold should be secure, affordable, convenient and accessible to everyone. Our uabpay app, launched in April 2020, has emerged as a market changer in its efforts to build itself into a Super App, providing its users many choices in payments, social, lifestyle, learning and investments.”

Aung Kaung Myat, Founder of Shwe Bon Thar, expressed his excitement saying, “Shwe Bon Thar is proud to join forces with uab bank, a leading technology and banking institution in Myanmar. This partnership represents a significant milestone in providing customers with an unparalleled gold investment experience. Combining reliable technology and banking services, Shwe Bon Thar and uab bank are confident that customers will enjoy a secure and positive experience when investing in digital gold. We invite you to join us and experience the power of digital gold, accessible with as little as 1 Yway.”

Kyawt Kay Khaing, Deputy CEO of uab bank shared her enthusiasm for the partnership, stating, “We are honored to announce this collaboration between uab bank and SBT, one of Myanmar’s top bullion dealers. Our uabpay Digital Gold Investment Platform offers users the unprecedented ease of investing in gold digitally. With just a single click, customers can buy, sell, and redeem gold. Moreover, they can access and manage their gold investments securely and efficiently in real time, from anywhere and at any time. We are confident that this platform will greatly benefit our customers and help them achieve their financial goals.”