Axis Bank to Stop Processing Payments for Digital Gold Products Via its Platform

Axis Bank has informed customers that it will no longer support payments for Digital Gold offered through SafeGold, as per the news reports. The change will take place in stages through 2025. Once the process is complete, users will not be able to buy, sell, redeem or request delivery of Digital Gold through the bank’s mobile app or internet banking. 

Closure Schedule 

The bank will stop allowing purchases of Digital Gold from November 30, 2025. On the same day, any ongoing SIPs for Digital Gold will be stopped. Other features will remain temporarily while the exit progresses. All remaining services related to Digital Gold will end on 31 December 2025, marking a full closure. 

Access to Existing Holdings 

Customers who already hold Digital Gold through Axis Bank will keep their units but will need to move them to the SafeGold Wallet. Without shifting the holdings, customers will not be able to view or use them once the bank closes the product.  

As per the news reports, any future action, whether buying, selling, redeeming or requesting home delivery will have to be done on the SafeGold app or website. The bank has not indicated any charges for this transfer. 

Reason Stated by the Bank 

Axis Bank has announced the decision is part of an exercise to tidy up its digital offerings and reduce products available on its platforms. The bank has not linked this to any regulatory change or external instruction. The announcement has been sent directly to customers using the service. 

Regulatory Background 

The timing of the move follows recent notices issued by the Securities and Exchange Board of India (SEBI). The regulator has stated that digital gold products are not classified as securities and do not fall under SEBI’s commodity rules.  

As a result, the normal investor safeguards do not apply. SEBI’s advisories have warned users about issues such as storage responsibility, counterparty reliability and redemption practices on online platforms. 

Read More: Kotak Mahindra Bank Board to Consider Share Split Today on Nov 21! 

Axis Bank Share Price Performance  

As of November 21, 2025, 11:15 am, Axis Bank share price was trading at ₹1,280.10, a 0.40% down from the previous closing price. 

Conclusion 

Axis Bank will end all digital gold services by December 31, 2025. Customers who wish to continue holding or buying digital gold will need to shift their units to SafeGold and use its own platform for all future transactions. 

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.  

Investments in the securities market are subject to market risks, read all the related documents carefully before investing.