Laos awards online operating licence for first digital gold trading platform
The awarding of the licence means Easy Gold is officially certified as the first digital gold trading platform in Laos.
'Over the last three years of service, we have shown that privacy, security and ease of access is at the heart of our business. Today we take another step by handing over a guarantee contract of 100 billion kip (US$46,254) to create the maximum confidence in our operations,' Chief Executive Officer of Easy Gold Co., Ltd., Chanthavong Phamisith, said.
The licence presentation ceremony was attended by the Head of the Internal Trade Department of the Ministry of Industry and Commerce, Santisouk Phounsavath, ministry officials and the Board of Directors of Easy Gold Co., Ltd.
Santisouk said the licence was awarded to enable the lawful purchase and sale of gold through the Easy Gold app, in line with the regulations set by the government. Official recognition of the trading platform would create trust, while providing a convenient and secure service for users from all walks of life.
This meant anyone could now buy gold in small increments using the Easy Gold by Khamphouvong app on a mobile phone. Use of this platform would avoid problems in the conduct of such activities, such as fraud and misuse of trading channels, ensuring compliance with the law.
The Internal Trade Department had approved the registration of a licence to engage in the business of buying and selling gold online in small quantities using the Easy Gold by Khamphouvong app as requested by the company. The licence complied with the terms and conditions of an agreement on the online trade in gold, dated April 22, 2025.
On behalf of Easy Gold, Chanthavong said the company had been attempting to obtain a licence for two years and received a one-year licence based on the agreement on the operation of electronic gold buying and selling services. Finally, the company had renewed its licence today.
Chanthavong thanked the Ministry of Industry and Commerce, especially the Head of the Internal Trade Department, who has managed Easy Gold for the past three years.
Easy Gold is the first online gold buying and selling platform for use by the general public. It is the most trusted platform of its kind in Laos and more than 100,000 people have purchased gold through it as an inheritance for their children.
'To inspire confidence in the system and to comply with the Easy Gold agreement, we have issued a guarantee with a private bank in the amount of 100 billion kip to express our gratitude and show our commitment, responsibility, and determination to ensure the Lao gold industry develops to an international level,' Chanthavong said.
'The licence not only authorises the company to do business, but is a commitment that we will continue to improve the Easy Gold app and embark on a mission to teach the younger generation about the importance of saving and investing in gold. We will make sure that everyone knows that investing in gold is not just something for the rich, but is the right of all individuals, and can be done easily and securely,' he added.
'Finally, I would like to thank all levels of government for not only allowing but also encouraging private businesses to share in the nation's development. Easy Gold will not stop here; we will move forward responsibly, create a new standard for the Lao gold industry, and prove that from starting out as a small gold shop, we can become the number one gold buying and selling platform in the country.'
The agreement on the online trade in gold serves to safeguard the legitimate rights and interests of gold buyers and sellers through electronic means.
It ensures that the purchase and sale of gold is conducted in compliance with the law, and supports the development and advancement of the Lao gold market, enabling the gold industry to rise to international standards step by step. In addition, it is another contribution to the nation's social and economic development. - Vientiane Times/ANN
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