The leadership appointment comes as IGM accelerates efforts to build an integrated digital infrastructure to formalize and transform India’s gold and precious metals economy
Mumbai: India Gold Metaverse (IGM) has appointed former CEO of Diamond India Ltd., Nirakar Chand, as the Managing Director of its bullion market vertical, BullionX.
With nearly four decades of experience, Chand brings a strong understanding of bullion markets and the broader precious metals ecosystem, providing valuable industry insight and strategic vision that will further strengthen IGM’s position in the market.
In his new role, Chand will drive growth initiatives, industry engagement, and nationwide market development efforts at BullionX, which delivers real-time spot and futures pricing, one-click buy/sell execution, comprehensive order management and integrated market intelligence for institutional traders, bullion dealers and large jewellers. Working on the IGM theme of ‘One Nation, One Market, One Price’, this inclusive market model provides a one-shot dashboard of demand/supply using an all-open API for online and offline features.
With Indian households holding an estimated 25,000 tonnes of gold valued at approximately $2.4 trillion, IGM addresses the structural challenges of a largely unorganized market by bridging trust deficits, fragmented pricing, and limited digital adoption.
Nirakar Chand, Managing Director– Bullion Market, IGM, said,“I am delighted to join IGM, which has laid out an exceptionally visionary and timely blueprint to revolutionize the gold industry through transparency, digital accessibility and robust institutional infrastructure. I look forward to working closely with the IGM management and our industry partners to unlock the true potential of our bullion markets and build an inclusive, trusted ecosystem that benefits every stakeholder.”
Welcoming him to the leadership team, Lamon Rutten, Managing Director & Chief Executive Officer, IGM, said, “With his vast experience in the bullion market, Chand will be an invaluable addition to the IGM executive team. His profound domain expertise, deep-rooted relationships across the bullion industry, and operational mastery will provide tremendous impetus to IGM’s objectives. We look forward to his strategic leadership as we build a transformative, world-class market infrastructure.”
IGM combines blockchain, artificial intelligence, and cutting-edge financial market technologies across four proprietary pillars: Elanzia, a digital metaverse uber tech platform of B2B & B2C for jewellers and bullion participants; RamMudra, a blockchain-enabled digital gold, coins and GBST (Gold Backed Stable Token) platform; GoldSense, an an AI-powered digital karatometer and BullionX, an institutional trading infrastructure designed to enable efficient price discovery, liquidity and settlement.
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