It is an obvious part of human nature to preserve. Putting life in the context of future tense, preservation makes much more sense.”
Fayzi Omar always believes preserving wealth is one of the main concern in human life. With the frequencies of hyperinflation crises arising globally coupled with debt crisis everywhere, people are resorting to various alternatives of preserving their wealth. One of the options that many people go for is trading precious metal.
Precious metals, such as gold and silver, have managed to endure multiple economic crises. In the past, metals that carried intrinsic value used to be the universal currency. “We believe that gold, which has been retaining its value for centuries, will make a comeback as a universal world currency.”
However, the trading of precious metals like gold and silver bullion between buyers and sellers often performs in a very unsecured manner. Many trades occur on Facebook groups and e-marketplace like eBay, Lazada, and Shopee. Since there is no proper management on these trades, people can easily get scammed, be it on the buyers’ side or even the sellers’ side.
Therefore, Fayzi and his like-minded partners co-founded Nubex (Nusantara Bullion Exchange) in 2009.
Nubex is a secured online marketplace for anyone to trade gold and silver bullion. In Nubex, they will inspect all the bullion that up for sale and grade them according to their conditions. Buyers can check the grade indication and the detailed information of each bullion. Besides, the prices of the bullion are transparent. Sellers can set their selling price, and Nubex will display it to all buyers.
“The obvious reason of people buying golds is the preserve their wealth. The last thing they would want to face is that the gold or silver bullion they bought is not authentic.”
To eliminate the risks and provide the guarantee to the buyers, Nubex is not only focusing on the online marketplace. Like mentioned above, they also involve physical inspection and grading of the items to ensure authenticity. Thus, buyers can shop safely on their platform.
Besides, since Nubex exchanges are connected to all its branches, a seller’s offerings are broadcast all over the world. This system creates massive liquidity where the seller’s items can be sold faster because of the high number of buyers.
To achieve our grand vision of turning gold into a universal world currency, we need to constantly improve our system to ensure gold can be easily traded globally and exchanged between people from around the world with great mobility.”
The team is currently working hard to improve the three critical areas that they identified can build a better gold trading system, which are Decentralization, Liquidity, and Mobility. They are creating a complete ecosystem to address these areas.
The most important thing is to sustain Nubex as a healthy and safe playground for the gold trading activities.”
Nubex has joined ZOM-IN to collaborate in efforts to empower aspiring youths. Join us now at www.zom-in.com/zomin/students/register to participate in upcoming exciting events!