Rishidas Vaniyankandi speaks about Palm Holdings Ltd and the future of gold — a future built on his vision to inspire trust and value.
From the OTC FX markets to the creation of a fully integrated gold ecosystem, Rishidas Vaniyankandi, Founder and CEO of Palm Holdings Ltd, has redefined the way we perceive precious metals — not merely as commodities, but as foundations of trust, transparency, and global value.
With operations spanning from Africa to Europe and from the United Arab Emirates to Cyprus, Palm Holdings stands out as one of the most integrated and forward-thinking groups in the gold industry, bridging the physical and financial worlds through innovation, ethical sourcing, and technological advancement.
Tell us about Palm Holdings Ltd. How did it begin, and what does it represent today?
Palm Holdings’ precious metals trading brand, SEC was founded in 2019 with a simple but ambitious vision: to build an ecosystem. That ensures trust, transparency, and efficiency from source to end-user. Too often, mining, refining, trading, and investment are fragmented. We wanted to create a model of vertical integration. Staying true to that vision, we have since invested in large-scale mining assets in Africa and established the state-of-the-art Palm Gold Refinery in the UAE, now one of the UAE’s leading refining facilities.
Today, Palm Holdings is the UAE’s only fully vertically integrated gold group. We operate across Africa, the Middle East, Europe, and Asia, and our group turnover now exceeds USD 40 billion since inception. But more than numbers, what we are building is resilience — a global ecosystem of value anchored in gold and other precious metals.
What are the key pillars of Palm Holdings’ business?
We’ve structured the group around five core pillars:
- Palm Gold Refinery FZE is our state-of-the-art refining and minting operation in the UAE.
- SEC Jewellery, based in Dubai, is one of the fastest-growing wholesale and retail precious metals traders in the region.
- SEC Bullion, based in Cyprus and Bulgaria, which connects us to European markets.
- Our mining subsidiaries in Africa ensure ethical and reliable sourcing from the ground up.
- Finior Capital, our licensed financial brokerage in Abu Dhabi Global Market, is bridging physical metals with global investment flows.
We’ve also established a Hong Kong presence, which is strategically important as it gives us a foothold in Asia’s bullion and jewellery hub and helps us connect East and West.
Palm Holdings has come a long way since 2019. What was your initial vision when you founded it, and how has it evolved into one of the most integrated groups in the gold industry?
When my partner Jasim and I founded SEC back in 2019, the goal was never to trade gold — it was to reimagine how the entire gold ecosystem could work together. I’d spent years watching the industry fragment, with mining, refining, trading, and investment all operating in isolation. I wanted to bring those worlds under one roof, guided by transparency, integrity, and innovation.
What began as a humble trading venture has grown into one of the most integrated gold groups in the region. Today, Palm Holdings connects five central pillars — mining, refining, wholesale and retail trading, investment brokerage, and risk management — all working in harmony. That integration allows us not only to control quality and efficiency but also to uphold the ethical and environmental standards that modern investors expect.
Six years later, I can say the vision has evolved — from building a gold business to shaping a global ecosystem of trust and value. And as we expand into new areas like real estate and fintech-driven gold investment platforms, Palm Holdings continues to reflect the same spirit that started it all: building something enduring, valuable, and transparent. It’s what our philosophy — “From the Ground to Home” — truly represents: transforming a natural resource into something that holds value, meaning, and trust for every person it touches.
You have a background in OTC FX, derivatives, and commodities. How has this financial experience helped you approach the world of precious metals from a different perspective?
Coming from the world of OTC FX, derivatives, and commodities taught me a lot about how markets really think. You learn that numbers are just part of the story — it’s about timing, sentiment, and how people react to opportunity and risk. That experience shaped the way I look at precious metals today.
When I entered the gold industry, I didn’t see it as a traditional trade. I saw a market that needed more structure, more strategy — the kind of precision that financial markets demand. My background helped me bring that discipline into Palm Holdings. We treat gold not just as a commodity, but as a financial asset — one that deserves the same level of sophistication, hedging, and risk management as any primary global market.
That’s really where our edge lies. We bridge two worlds: the physical and the financial. It’s about turning volatility into opportunity, and making sure that every move we make — whether in mining, refining, or trading — is backed by strategy, not chance.
Palm Holdings operates across Africa, the UAE, Hong Kong and Cyprus. What is the key to effectively managing such a global and vertically integrated structure?
Managing a group that operates across Africa, the UAE, Hong Kong, and Cyprus is as much about understanding people as it is about understanding markets. The key lies in alignment — every region has its own dynamics, yet all our operations share one common philosophy: efficiency, transparency, and trust.
One of the most significant advantages of global integration is the ability to leverage regional pricing disparities. Gold never trades at the same price everywhere — there are always differences in premiums, logistics costs, and market sentiment between, say, Dubai, Hong Kong, or specific African hubs. Our structure allows us to monitor these spreads in real time and position ourselves strategically. By doing so, we can optimise sourcing, refine and sell into markets where margins are most substantial.
We’ve built Palm Holdings as a connected ecosystem, not just a group of companies. Advanced data systems, centralised compliance, and digital reporting keep every operation transparent and responsive to market shifts.
But above all, it’s our people who make it work. We’ve built teams that understand both the local market realities and the global flows of gold. That combination — local intelligence backed by global strategy — is what allows Palm Holdings to turn regional price disparities into international opportunities.
Gold remains a “safe haven” during times of uncertainty. How do you interpret its current rise, and which factors do you believe will determine its value in the coming years?
Gold has always been more than just a metal; it’s a mirror of global confidence. Whenever uncertainty rises — whether due to geopolitical tensions, inflation, or currency volatility — investors instinctively turn to gold. What we’re witnessing today isn’t just another cyclical rise; it’s a structural revaluation of gold’s role in the global economy.
Several factors are driving this. First, monetary policy diversification — central banks across emerging economies are increasing their gold reserves as a safeguard against the dollar’s long-term volatility. Second, supply constraints — mining output is not keeping pace with demand, and discoveries are becoming rarer and more expensive. Third, technological and investment innovation — from digital gold platforms to tokenised assets — is bringing a new generation of investors into the market.
Over the next few years, I believe gold’s value will be defined by trust — trust in systems, currencies, and governments. As uncertainty becomes the new normal, gold will continue to play its timeless role as the ultimate store of value. At Palm Holdings, we see this not just as a trading opportunity, but as a responsibility — to refine, deliver, and preserve that trust “from the ground to home.”
You often speak about “ethical mining” and “responsible sourcing.” How challenging is it for a company to ensure complete transparency across the entire value chain — from the mine to the final product?
Ensuring complete transparency across the gold value chain is one of the most significant challenges any company faces — but also one of the most important. Mining often happens in regions where governance is weak, documentation is fragmented, and informal operators play a significant role. That creates natural risks around traceability, compliance, and ethics.
At Palm Holdings, we’ve tried to confront this head-on by embedding “responsible sourcing” into the DNA of our operations. That means applying due diligence from the very first step — verifying mining licenses, understanding local community impact, and conducting thorough KYC and AML checks on suppliers. Once material enters our ecosystem, it is tracked through refining, trading, and retailing, with every step documented and auditable.
It’s not easy. The supply chain spans multiple jurisdictions, and each link has its own standards. But by implementing strict internal policies, partnering with trusted suppliers, and maintaining independent audits, we can close many of the gaps.
The bigger picture is that transparency isn’t just a compliance issue — it’s about trust. Customers, investors, and regulators increasingly want to know that the gold they’re holding has been sourced ethically and sustainably. Our responsibility is to make sure that when someone buys Palm gold, they’re not just buying a metal — they’re buying peace of mind.
The Palm Gold Refinery in the UAE is considered a strategic project for your company. What does local refining mean to you, and how does it contribute to regional self-sufficiency and market confidence?
The Palm Gold Refinery in the UAE is more than just an industrial project — it’s a symbol of the country’s evolution as a global trade hub. For decades, the UAE has been one of the world’s most important crossroads for precious metals, yet much of the refining was still handled abroad. By building refining capacity locally, we ensure that value creation, credibility, and decision-making occur within the UAE itself.
Local refining strengthens the country’s role as a trusted marketplace. It reduces dependence on overseas facilities, shortens supply chains, and assures both regional and international buyers that gold processed here meets the highest global standards. When clients see that refining, assaying, and delivery all happen within the UAE, their confidence in the market grows.
Most importantly, it positions the UAE not only as a transit hub but as a full-service ecosystem for the precious metals industry — from import and refining to wholesale and retail distribution. That depth is what transforms Dubai and the wider UAE from a trading corridor into a true global centre of excellence for gold.
Technology and data are radically transforming the way commodity markets operate. How does Palm Holdings integrate innovation — whether through traceability solutions or new financial products?
Technology is transforming the way commodities are traded, and for Palm Holdings, innovation is central to our operations. We see it on two fronts: first, strengthening transparency across the supply chain through advanced tracking and documentation; and second, designing more innovative financial solutions that give clients greater flexibility in managing and investing in gold.
By combining operational transparency with financial innovation, we’re not just moving gold — we’re building confidence in every transaction. That, to us, is the real value of technology: making the market more trusted, more efficient, and more accessible for all participants.
Your financial arm, Finior Capital, stands at the centre of this effort. How does finance connect to the physical gold market, and what is the next phase of this “golden” economy?
Finior Capital, based in ADGM, was built to give institutions the tools to manage risk in the gold market more effectively. Gold has always been a safe haven, but in volatile markets, simply holding the metal is not enough. What institutions need are hedging instruments and structured solutions that allow them to protect margins, smooth volatility related risks, and align exposures with their overall portfolio strategies.
The future we see is one where gold becomes an active risk management tool for institutions — a way to hedge currency, inflation, and market shocks with solutions engineered for today’s global financial environment. That is the core mission of Finior Capital: turning the timeless stability of gold into modern risk-control instruments.
You divide your time between Limassol and Dubai. What is the significance of Cyprus for you, both as a business hub and as a place for family and living?
Cyprus holds a very special place in my life because it combines two worlds that matter deeply to me — business and family. On the professional side, Limassol has become an increasingly important hub for international trade and finance, thanks to its strategic location between Europe, the Middle East, and Africa. For Palm Holdings, that means access to European markets, strong regulatory frameworks, and a platform to expand beyond the traditional gold corridors of Dubai and Africa.
Cyprus is also where we’re expanding into luxury real estate through SEC Homes Ltd (www.sec-homes.com), our new division dedicated to developing high-end residential projects in Limassol. These developments are designed to reflect the same values that define our gold business — quality, trust, and timeless value — creating homes that stand as symbols of excellence and lifestyle refinement.
On the personal side, Cyprus is home. It offers a safe, welcoming environment where my family and I can thrive. The balance of lifestyle, education, and community here makes it more than just a base of operations — it’s where we feel rooted.
In many ways, Dubai drives the business momentum while Cyprus provides the foundation of stability and balance. Together, they complement each other perfectly.
Gold carries centuries of history and culture. How do you combine this timelessness with your own philosophy for the future of precious metals?
Gold is one of humanity’s oldest symbols of value — it has outlived empires, currencies, and crises, always retaining its power to inspire trust. That timeless quality is what makes gold unique.
At Palm Holdings, we see ourselves as custodians of that legacy, carrying it into a new era. For us, gold is not only a reminder of history but also a canvas for the future — a foundation on which to build more transparent markets, responsible sourcing, and innovative financial solutions.
The way we see it, gold’s past gives it permanence, and our task is to ensure its future gives it purpose.
Today’s investors are increasingly focused on ESG principles. How does Palm Holdings put sustainability and corporate governance into practice?
For us, ESG is about responsibility — to people, to the planet, and to the communities we touch. At Palm Holdings, we see sustainability not as a box to tick, but as a duty that comes with being part of an industry as vital and historic as gold.
Environmentally, we support mining practices that minimise harm and encourage the rehabilitation of land and resources. Socially, we work to ensure that gold is sourced responsibly, that local communities benefit, and that the trade brings opportunity rather than exploitation.
Good governance ties it all together. By keeping our operations transparent and accountable, we build trust not just with investors, but with every stakeholder in the value chain.
At its heart, our ESG approach is simple: gold should not only carry financial value but also social and environmental value. That’s how we believe the industry can move forward responsibly.
Looking ahead to 2030, how would you like Palm Holdings to be perceived — as a business, as a brand, or as a global ecosystem of value?
By 2030, I want Palm Holdings to be recognised as the world’s most trusted and integrated gold ecosystem. Not just a company, but a force that has redefined how the precious metals industry operates — from mines in Africa and Latin America to refineries in the Gulf and India, to financial markets in Europe and Asia.
Our ambition is to set the global standard for how gold is sourced, refined, traded, and invested in — responsibly, transparently, and innovatively. I want Palm Holdings to be known as the group that transformed gold from a static safe-haven asset into a dynamic driver of global finance and sustainable growth.
As a brand, I see us standing for integrity, innovation, and impact. As a business, I see us driving value across continents. And as a global ecosystem, I want us to be remembered as the company that bridged gold’s timeless past with its purposeful future.