OGold Mastercard
Dubai-based app for buying fractional, physically backed gold and silver from AED 1, with a gold-backed Mastercard launched with Mawarid Finance. It reported more than 1.5 million users in July 2026.
Industry: Digital gold and silver investment | Location: Dubai, United Arab Emirates
About OGold Mastercard
OGold, also written O Gold, is a Dubai-based fintech company that runs a mobile app for buying, selling and saving fractional gold and silver from AED 1 at live market prices. The company says each digital gram is backed by physical, high-purity metal held in insured vaults in the UAE; it does not name the vault operator or the insurer. It also says its offering is certified as Shariah-compliant by the AlHuda Centre of Islamic Banking and Economics. A Wakalah Gold and Silver Earnings product pays returns in gold and silver.
Bandar Alothman is the founder. Gulf News described Ahmed Abdeltawab as co-founder and chief executive in July 2026, while Jawlah called Alothman founder and chief executive in April 2026. The sources read do not give a founding year.
In May 2025 OGold and Mawarid Finance, a Shariah-compliant UAE financial institution established in 2006, announced a prepaid card backed by physical gold, which they described as the first of its kind in the region. The announcement listed SAM Precious Metals and AKW Consultants among OGold's partners. In January 2026 OGold relaunched its app as a broader lifestyle app built around the OGold Mastercard, which lets users spend gold balances on everyday purchases without selling them first, and said it had 800,000 users. Gulf News later listed a Platinum Mastercard, eSIM cards, a gift card marketplace and a jewellery marketplace, as well as partnerships with Botim, Aspora and Valura.ai.
On 28 April 2026 Plug and Play Ventures announced a strategic investment in OGold. The amount was not disclosed, and Amadi Ventures advised OGold. The company said the money would go toward product innovation, a global rollout of the app and the Mastercard, and expansion into international markets. At the time OGold reported more than 1 million users and more than $50 million in gross merchandise value since launch.
On 27 July 2026 OGold said it had passed 1.5 million users. The company has named the Middle East and Central Asia among its expansion targets.
Leadership
- Bandar Alothman, Founder
- Ahmed Abdeltawab, Co-founder and Chief Executive Officer