India, April 24 -- A new service has been introduced to people in Shanghai. It is a gold ATM. Unusual as it sounds, it is a gold ATM that melts gold items, checks their purity and puts the cash value in the users' bank account in 30 minutes. Fintech has come a long way. The process is automatic, saving individuals from the possibility of under valuation that may happen in buying gold manually.

Kinghood Group has made this innovation, which is changing the way people trade in gold. Across the world the prices of gold have increased. More people are interested in fast and transparent transactions while gold prices are on the rise. The new machine allows one to easily trade gold for cash quickly and conveniently.

Just like a traditional ca...